Peru's environmental regulator OEFA has concluded that mining waste from the company's Cuajone mine did not spill into a river during heavy rains last week.
Grupo Mexico Mining News
The companies 112 percent rise in net income in all of 2018 was due mainly to higher sales and lower taxes.
The company reported $2.567 billion in revenues for the fourth quarter, down slightly from a year earlier.
The country's environmental agency OEFA detected a "flow of a greenish solution" into the nearby Torata River in the waste deposit area of the copper mine, located in the Moquegua region.
Initially, workers linked to the Los Mineros Union planned to launch a protest action on December 1st, López Obrador's inauguration day.
The planned industrial action is part of a longstanding dispute after Grupo Mexico fired the mine's workforce and reopened it in 2010.
Besides tax hikes, the set of suggested rules include allowing the Ministry of Economy to name certain zones as not viable for mining.
Miner Grupo Mexico could reopen the country's largest underground mine in the first quarter of 2019, after it closed due to a workers strike.
The provincial authority issued a statement after learning that the reopening of the mine will create 3,600 jobs.
Southern Copper Corp. is preparing to scale the ranking of global producers by spending more than $10 billion in Peru and Mexico.
Pan American Silver Corp became the latest company to curtail operations in Mexico due to rising violence and crime.
Southern Copper’s Manager of Technical Services said that the company has been able to knock down previous resistance from local communities.
Southern Copper Corp's chief executive said on Wednesday it had reached a settlement with a company in Peru that blocked development of its $1.4 billion Tia Maria project with a legal injunction.
On the 20th anniversary of the breach of the tailings pond at the Los Frailes mine in Spain, environmental organizations held a press conference to alert the public about the possibility of a similar accident taking place.
The government of new Peruvian President Martin Vizcarra said it would not "impose" mining projects on nearby communities that object to them.
Analysts had forecast a $419 million net profit for the company in the fourth quarter.
Mining investment in Peru is expected to grow 9% this year when compared to 2016, marking the end of a three-year decline than began in 2014, to reach $10 billion next year thanks to these projects.
This is the third strike this year over profit-sharing staged by the company’s unions and it affects Southern Copper's two mines in the country — Cuajone and Toquepala.
Peruvian government is expected to issue a long-awaited construction permit for the mine in the first quarter of 2018.
The indefinite labour action involves 56 unions, which are protesting a government’s proposed reform they see as "anti-workers".
World number five producer adding 600,000 annual tonnes in six years.
The new section of the Toquepala open-pit mine in southern Tacna, Peru, is expected to begin operations in early 2018.
Mexico’s biggest copper producer is leveraging its relatively low debt and strong profit margins to invest more than $4.6 billion expanding some of its mines.
China is currently the top investor in the country's sector, pumping $19.2 billion into several copper, gold and silver projects.
The former president says lack of immediate benefits for communities has driven mining opposition causing the country to lose billions worth of gold and copper projects.