- Write by:
-
Friday, March 25, 2022 - 13:47:21
-
652 Visit
-
Print
Mining News Pro - MMG Ltd on Thursday said it has secured approval from Peru’s Ministry of Energy and Mines to expand its Las Bambas copper mine despite ongoing outrage from local indigenous communities.
Located in the Apurimac region of southern Peru, the Chinese-owned mine has been a flashpoint of protests and road blockades since it started operations in 2016, which have caused it to frequently curtail its operations.
The development will mainly be for the Chalcobamba pit and its associated infrastructure, the MMG statement said, adding that the expansion is expected to underpin a production increase at Las Bambas to around 380,000 to 400,000 tonnes of copper in concentrate per annum for the medium term.
According to the Ministry of Mines and Energy, an investment of $130 million is planned for the construction of the first phase of Chalcobamba.
The Chumbivilcas communities – mostly indigenous citizens of Quechua descent – have repeatedly accused the Chinese company of failing to provide jobs and money to the region, one of the poorest in Peru, despite the vast mineral wealth.
MMG said Las Bambas “looks forward to working with the community of Huancuire to begin development in the coming months.”
Peru is the world’s No. 2 copper producer and Las Bambas produces 2% of the world’s supply of the red metal.
Short Link:
https://www.miningnews.ir/En/News/620943
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Peru’s Las Bambas copper mine, owned by China’s MMG, is facing renewed blockades of a key transport route after failed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Copper traded near a 15-month high as supply concerns and brighter demand prospects triggered a slew of bullish calls on ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
Mining News Pro - Amir Khormishad, the CEO of the National Copper Industries Company of Iran, announced the 49% growth ...
No comments have been posted yet ...