• 1 day Under COVID, The Rich Got Richer
  • 2 days Will Biden Lift Sanctions On Venezuela?
  • 3 days How To Play The Next Stage Of The Marijuana Boom
  • 3 days India Looks To Import More Venezuelan Oil Under Biden
  • 3 days 3 Unstoppable Stocks With A Biden Boost
  • 4 days The Biggest Biotech Story Of 2021?
  • 4 days Biden Looks To Rejoin Paris Climate Agreement
  • 5 days Capital One Fined Again For Money-Laundering Failure
  • 5 days The Star-Studded Fund Backing Clean Energy Startups
  • 6 days The Unexpected Retail Segment On Track To Hit $68B
  • 8 days Oil Demand Falters On New Wave Of Lockdowns
  • 9 days Signal, Telegram Gain Ground As Social Censorship Breaks Headlines
  • 10 days Investors Should Be Worried About Tech Stocks
  • 12 days Battle For Market Share Intensifies In COVID Streaming War
  • 14 days Censorship Is Now Private, And That’s Scary
  • 16 days Markets Hit ‘Ignore’ Over Capitol Coup
  • 18 days Tesla’s China Strategy Is Yet Another ReasonTo Double Down
  • 19 days NYSE Reverses China Company Delisting Plans … For Now
  • 21 days The Dollar Could Remain Weak For Years To Come
  • 24 days The Simple Secret To Tesla-Like Gains
The Deep-Sea Mining Debate

The Deep-Sea Mining Debate

Deep-sea minerals could meet the…

Indonesia Moves To Bolster Mining Sector

Indonesia Moves To Bolster Mining Sector

Government policy in Indonesia will…

Mining.com

Mining.com

Mining.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

Contact Author

  1. Home
  2. Commodities
  3. Industrial Metals

Protests Threaten $5 Billion Peruvian Copper Mine

Peru Mine

Ongoing anti-mining protests in Peru, triggered by the recent approval of a now halted construction permit for Southern Copper’s (NYSE:SCCO) $1.4 billion Tia Maria project in Arequipa, have extended to Anglo American and Mitsubishi’s $5 billion Quellaveco project, in the neighbouring region of Moquegua.

As road blocks and demonstrations enter a third day, community members continue to demand more employment opportunities and the use of local companies rather than contractors from outside the region.

Moquegua’s authorities claim that Anglo American has not met its commitment to hire 80% of the required labour locally. Instead, they say that only six out of ten people working at the mine site are from outside Moquegua, a charge the company has denied.

Anglo approved the project development in July 2018, saying the asset had the potential to transform the company’s business outlook.

First production at Quellaveco, which has the capacity to generate 300,000 tonnes of copper annually in its first 10 years of operation, is expected in 2022. Ore will be trucked from the mine, situated 3,500m above sea level in southern Peru, to a port 165km away.

Peru is the world’s No. 2 copper, zinc and silver producer and the sixth largest gold producer, but mining conflicts have blocked billions of dollars in potential investments over the past decade.

By Mining.com 

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment