IXM, metal trading company of China Molybdenum Co., Ltd. (CMOC), decided to increase its presence in the port of Callao and expand its mineral warehouse. On June 11, Peru’s National Service for Environmental Certification approved the environmental impact study of this project. As a result, IXM has the green light to move forward with its expansion project in the third bulk mineral warehouse in Callao through an investment of S / 37 million. The disbursement will increase the supply of warehouses for bulk minerals.
The construction and conditioning stage will be carried out in parallel to the current operation of the concentrate warehouse, and will last for 10 months, counted from the approval of the construction license. Meanwhile, the operation and maintenance stage will be for 20 years, which will depend on market conditions and business profitability. This project will allow a significant increase of storage capacity and provide sufficient minerals to IXM's clients such as mining companies of Volcan, El Brocal, Nexa Perú (formerly Milpo) and Chinalco.
IXM is a wholly-owned subsidiary of CMOC, focusing on mineral product and metal trading business. It is among the top three base metal merchants in the world.