09:41 AM EDT, 10/10/2025 (MT Newswires) -- A BlackRock ( BLK )-backed (BLK) copper-shipping hub in Peru has secured government clearance for a $700 million expansion, Bloomberg reported Friday, quoting the port's operator.

The Matarani port has obtained government approval to make investments in new infrastructure to handle growing exports from mines coming online in the country, Bloomberg reported, quoting the port's operator Terminal Internacional del Sur, known as Tisur.

The upgrade, authorized by the government in a decree this month, is part of a 30-year extension of Tisur's concession, the report said, adding BlackRock's ( BLK ) Global Infrastructure Partners arm bought a 50% stake in the operator in 2023.

BlackRock ( BLK ) didn't immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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