The two sides are $8 a tonne apart on where they would like the treatment charge benchmark to be.

The battle over mining in Ayacucho is a flashpoint for the new government as well as for global metal markets that rely on Peru’s rich deposits.

It is expected that leading global investors focused on ESG & sustainability will comprise the majority of the investors in the offering, the company says.

The mining corridor, as the road is known, has been blocked for over 400 days since Las Bambas began operations in 2016.

There are two major gold and copper mines operating in Ecuador's Amazon region, while other projects have been halted by community opposition.

The global refined copper market is expected to be in a significant surplus in 2022, according to ICSG.

CSN will increase consolidated capex next year by 46%, to $727.80 million.

Las Bambas warned on Friday it would have to suspend production by next week if the situation was not resolved.