Reports related to this article:
Plant(s): View 2 related plants in PECWeb
Released February 02, 2023 | SUGAR LAND
en
Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Protests against Peru's new government, including calls for the president's resignation and new elections, are impacting mining operations in the world's second-largest copper-producing nation. The Las Bambas mine, operated by MMG (Melbourne, Australia), is one of the latest to suffer setbacks.
MMG issued a statement Monday that its operations are at risk of shutting down due to the protests and road blockades spreading across Peru. The mine has been forced to scale back its operations amid a lack of critical supplies.
MMG said it had moved security personnel to the Las Bambas mine and that its asset was safe. But the company warned that if the situation continued, it would have to shut down the mine by Wednesday, February 1, and perform maintenance. The statement has yet to be updated. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant Database can learn more from a detailed plant profile.
This is not the only infrastructure at risk due to the protest, as Glencore plc's (Baar, Switzerland) Antapaccay mine also reported attacks over the last few days. Subscribers can learn more from a detailed plant profile and Industrial Info's February 2, 2023, article - Glencore Maintains 2023 Global Outlook for Copper, Other Materials.
Despite the protests, which started in December, Las Bambas had an annual production in 2022 of 255,000 tonnes of copper, higher than the 250,000 tonnes set in the last guidance, though 12% lower than the volumes seen in 2021. According to an MMG statement, the lower output last year resulted from Peru's unrest, which led to an operational shutdown of more than 50 days.
The company also reported that total copper production (copper cathode and concentrate) in 2022 stood at 305,000 tonnes, also 10% lower than in the previous year.
Operational issues at southern Peruvian mines have been exacerbated over the last few weeks as protesters have blocked major road networks, demanding the resignation of Dina Bolouarte, the new Peruvian president, following former president Pedro Castillo's arrest and dismissal in December. Additionally, protesters are requesting early elections.
Bolouarte has called for early general elections, though Peru's parliament has yet to approve this measure. For more information, see Industrial Info's January 25, 2023, article - Months-long Protests in Peru Impact Mining, Energy Operations.
Despite the setbacks, MMG interim CEO Liangang Li says that the company is making progress and reaching agreements with protesters: "While the dialogue is temporarily on hold due to security reasons amid nationwide unrest, we look forward to progressing discussions once the social unrest dissipates."
Industrial Info is tracking more than US$47 billion worth of active mining projects across Peru. Subscribers can click here for a full list of detailed project reports, and click here for a full list of related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
MMG issued a statement Monday that its operations are at risk of shutting down due to the protests and road blockades spreading across Peru. The mine has been forced to scale back its operations amid a lack of critical supplies.
MMG said it had moved security personnel to the Las Bambas mine and that its asset was safe. But the company warned that if the situation continued, it would have to shut down the mine by Wednesday, February 1, and perform maintenance. The statement has yet to be updated. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant Database can learn more from a detailed plant profile.
This is not the only infrastructure at risk due to the protest, as Glencore plc's (Baar, Switzerland) Antapaccay mine also reported attacks over the last few days. Subscribers can learn more from a detailed plant profile and Industrial Info's February 2, 2023, article - Glencore Maintains 2023 Global Outlook for Copper, Other Materials.
Despite the protests, which started in December, Las Bambas had an annual production in 2022 of 255,000 tonnes of copper, higher than the 250,000 tonnes set in the last guidance, though 12% lower than the volumes seen in 2021. According to an MMG statement, the lower output last year resulted from Peru's unrest, which led to an operational shutdown of more than 50 days.
The company also reported that total copper production (copper cathode and concentrate) in 2022 stood at 305,000 tonnes, also 10% lower than in the previous year.
Operational issues at southern Peruvian mines have been exacerbated over the last few weeks as protesters have blocked major road networks, demanding the resignation of Dina Bolouarte, the new Peruvian president, following former president Pedro Castillo's arrest and dismissal in December. Additionally, protesters are requesting early elections.
Bolouarte has called for early general elections, though Peru's parliament has yet to approve this measure. For more information, see Industrial Info's January 25, 2023, article - Months-long Protests in Peru Impact Mining, Energy Operations.
Despite the setbacks, MMG interim CEO Liangang Li says that the company is making progress and reaching agreements with protesters: "While the dialogue is temporarily on hold due to security reasons amid nationwide unrest, we look forward to progressing discussions once the social unrest dissipates."
Industrial Info is tracking more than US$47 billion worth of active mining projects across Peru. Subscribers can click here for a full list of detailed project reports, and click here for a full list of related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
