Column: Trump 2.0 won’t reverse Biden’s critical minerals push
Donald Trump has described the Inflation Reduction Act (IRA) as a "green scam" and vowed to repeal it after he returns to the White House in January.
China’s MMG Ltd said on Friday its Las Bambas copper mine in Peru was able to secure critical supplies, enabling it to continue production at a reduced rate after road blockades prevented the arrival of key raw materials.
“Levels of critical supplies remain low and should the situation remain unchanged, Las Bambas will be forced to commence a period of care and maintenance,” the company said in a statement.
Since the Dec. 7 ouster of leftist President Pedro Castillo, operations in key Peru mines have been hampered by transport constraints and some attacks by protesters.
MMG had earlier flagged it would have to halt copper production at the mine by the start of this month if blockades continued to prevent the arrival of key inputs to the site. At normal times, the mine accounts for some 2% of the global supply.
Separately, a Reuters analysis of power usage data at some of the key mines in Peru, the world’s no. 2 copper producer, indicated activity remained near normal levels despite road blockades, attacks and protests that have roiled the Andean nation for over two months.
(By Roushni Nair; Editing by Krishna Chandra Eluri and Subhranshu Sahu)
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