Column: Demand weakness helps cushion tin from supply problems
Tin demand last year was weaker than expected and is on course for only a modest recovery in 2024, according to the International Tin Association.
Chinalco was forced to halt its Toromocho copper projectin March after Peru’s enviromental watchdog found it had has been dumping waste in nearby lakes.
Peru’s environment agency OEFA, which fined and shut down major mines over pollution concerns this year, is setting up three specialized courts to hear cases for the mining, energy and fishing industries.
The move aims to expedite the processing and sanction of cases found by the Court of Environmental Control, said the OEFA in a statement published by the state-owned news agency Andina (in Spanish).
Companies such as Glencore (LON:GLEN) and Volcan were charged for excessive emissions while Chinalco’s $3.4 billion Toromocho copper mine was shut down in March over a tailings leak.
Peru’s mining sector has sometimes proved complex for foreign investment because of local conflicts, often over land and water rights.
Peru is the world’s third biggest producer of copper and silver and a major producer of gold, zinc, lead and other minerals.
