PERU APPROVES EXPANSION OF LAS BAMBAS COPPER MINE

March 25, 2022 - Lima.- MMG Ltd reported that expects the Development of Chalcobamba support an increase in production in the Bambas from 380,000 tons to about 400,000 tons of copper concentrate per year, in the medium term.

The Government of Peru has approved the expansion of the Las Bambas copper mine of the Chinese group MMG, located in the country's Andes, giving the green light to the Chalcombaba project, the company announced on Thursday, at a time when conflicts with local people seeking greater compensation for their communities intensify.

MMG Ltd said in a statement that it expects the development of Chalcobamba support an increase in production in Las Bambas from 380,000 tons  to about 400,000 tons of copper concentrate per year, in the medium term.

Las Bambas produces 2% of the world's copper supply, while Peru is the second largest global producer of the metal.

The mine has been a constant focus of conflict with impoverished communities set up along a 400-kilometer highway that uses to transport its copper concentrates.

The communities located in the sector have protested against the mining company by blocking the road, accusing the company of not improving their quality of life while truck traffic contaminates their crops.

The Chalcobamba mining deposit will be mined in a pit or open pit and its development will be progressively launched over the next five months, MMG said.

For the construction of the first stage of Chalcobamba, an investment of US$ 130 million is contemplated, according to data from the Ministry of Energy and Mines (Minem).

"Las Bambas hopes to work together with the community (close to the project) of Huancuire to begin development in the coming months, with the first production expected in Chalcobamba during the second half of 2022; the production guidance for 2022 remains unchanged," he said. 

Source: Gestion