The district of Ccapacmarca told Reuters they will block the road to pressure Peru's judiciary to expedite the resolution of a lawsuit they filed challenging the national highway status granted to the roadway used by the mine.
The task of ramping up copper supply to meet growing demand in the clean-energy transition is getting harder as societies and communities resist new mines and politicians seek a bigger share of the profit.
The decision shows the administration is increasingly comfortable prioritizing domestic conservation efforts, even as demand for minerals used to build electric vehicles rises amid efforts to combat climate change.
More than a decade after Vale agreed to pay Steinmetz $2.5 billion for a chunk of the world’s biggest iron-ore deposit, the pair are about to lock horns in a London court.
Prices of copper, considered to be an economic bellwether, rose by a quarter last year and are expected to continue their positive momentum in 2022 due to the metal's central role in the energy transition.