Peru tenders $2bn copper project in first major auction in years

Peru will accept bids and award a contract to develop the estimated $2-billion Michiquillay copper mine on Tuesday in the first major auction from the world's No. 2 copper producer in at least a decade. The auction was delayed twice last year, in part due to political turmoil in Peru. The bids will be a gauge of investor confidence in President Pedro Pablo Kuczynski, a former Wall Street banker who was nearly impeached in December.