Peruvian Cerro Verde Plans $1 Billion Expansion

CORDOBA, ARGENTINA--August 1, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Sociedad Minera Cerro Verde (Arequipa, Peru) a joint venture controlled 53.56% by Freeport-McMoRan Copper & Gold Incorporated (NYSE:FCX), 21% by SMM Cerro Verde Netherlands B.V., 18.5% by Compania de Minas Buenaventura S.A. (NYSE:BVN), and 6.94% by other shareholders, is planning a $1 billion expansion at its Cerro Verde copper mine in order to boost production from 300,000 tons of copper per year to 400,000 tons per year.