Chinalco could invest $426 million in Suriname bauxite project
If approved by parliament, Chinalco could begin construction by the middle of next year.
MMG said on Thursday that transport had been temporarily disrupted due to road blocks by local residents near its Las Bambas copper mine in Peru, forcing it to declare force majeure on some supply contracts.
“Based on Las Bambas’ current schedule, there will be delays to some concentrate shipments as a result of this event,” MMG, a subsidiary of Chinese state-owned enterprise China Minmetals Corp, said in a statement on Thursday.
Las Bambas produces about 400,000 tonnes of copper a year, approximately 2% of the global total.
Las Bambas produces about 400,000 tonnes of copper a year, approximately 2% of the global total
Production at the site was continuing and had yet to be affected by the blockade that began on Dec. 12, but due to the hit to logistics, there was a risk that output may need to be progressively curtailed from this week, the miner said.
If a resolution cannot be reached, Las Bambas will take the opportunity to carry out maintenance at the site, some of which had been deferred due to the impact of covid-19, it added.
On Tuesday, MMG had warned it would progressively reduce production because of the protests by members of the local community that have prevented mining trucks from using a road in Velille district, Cusco region, 200 km (124 miles) from the mine.
MMG, together with representatives from the office of the Prime Minister of Peru and the Peruvian Ministry of Energy and Mines, was seeking constructive dialogue with members of the Velille district, the miner said on Thursday.
(By Rashmi Ashok and Shivani Singh; Editing by Richard Pullin)
Comments