Company to coordinate logistics for three-year construction of central Peru mining project
OVERLAND PARK, Kan., October 1, 2009 – YRC Logistics, a subsidiary of YRC Worldwide Inc. (Nasdaq:YRCW), announced a new three-year service agreement with Minera Chinalco Peru S.A. for logistics activities supporting the construction of the Toromocho Project. The company will begin moving materials in late-2009 and anticipates copper production beginning in the first quarter of 2012.
The Toromocho Project is a large copper-molybdenum open-pit mine, located in the mountainous region east of Lima, with a 25-year lifespan. Production is projected at 273,000 tons of copper annually, generating an estimated 25 percent increase in copper production in the region. Currently, prices for copper are up due to strong demand in the China manufacturing sector.
“As the leading logistics provider in the mining and energy industries, we are honored and eager to apply a broad range of capabilities to this project,” said John Carr, president – YRC Logistics. “As with any project we are awarded, our primary goal is to deliver innovative and reliable supply-chain and logistics solutions, ensuring our customers have the highest level of confidence in our company.”
YRC Logistics will manage the project door-to-door using a dedicated staff located in Lima, and supported by the company’s operations in Houston, Los Angeles, and Miami in the U.S., and China and Europe. Services will include transportation management, purchase order management, international freight forwarding, customs brokerage, warehousing and delivery to the jobsite.
About Chinalco Peru
Chinalco Peru, Inc., an exploration-stage company, engages in the acquisition and exploration of mineable deposits of copper in Peru. Previously known as Peru Copper, Inc., Chinalco Peru became a subsidiary of Aluminum Corporation of China (CHINALCO), the largest diversified metals and mining company in China, on July 31, 2007.
About YRC Worldwide
YRC Worldwide Inc., a Fortune 500 company and one of the largest transportation service providers in the world, is the holding company for a portfolio of successful brands including YRC, YRC Reimer, YRC Glen Moore, YRC Logistics, New Penn, Holland and Reddaway. YRC Worldwide has the largest, most comprehensive network in North America with local, regional, national and international capabilities. Through its team of experienced service professionals, YRC Worldwide offers industry-leading expertise in heavyweight shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. The company is headquartered in Overland Park, Kan.
