By Prensa Latina,
Seoul : Thirty percent of the biggest copper mine in Mexico will be purchased Friday by a consortium led by South Korean state agency Korea Resources (KORES), reported news agency Yonhap here Thursday.
KORES assured the purchase agreement would be signed with Canadian enterprise Baja Mining Corporation in Washington.
The Baja Mining Corporation will invest 246 million dollars for a deposit in El Boleo, South Baja California.
The enterprise said the mine contains 277 million tons of copper, though it has been opened for 100 years, and it is expected that the production starting in 2010 will be of 41,000 tons a year.
Other national firms such as Hyundai Hysco and Iljin Cooper Foil are also part of the KORES Consortium.
Under the control of local companies, South Korea imported 240,000 tons of copper in 2007, and 4.7 percent of this amount was produced in foreign deposits.