The illegal action saw a group of locals spend seven days blocking the only access to the mine in protest for what they call “repetitive abuse” to community members and increasing pollution of their land and only water source.
Peru Mining News
About $816 million will be invested in Peru, including $555 million in copper projects and $216 million in zinc.
South African miner Gold Fields Ltd aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240 million.
The Canadian miner expects annual production from La Arena mine to be near the low end of its forecast 160,000 to 185,000 ounces of gold.
Temporary suspension of mining activities comes after about 100 people trespassed and demanded payment for alleged environmental impacts of the operation on their community.
The company said five holes had been dug on top of a pipeline carrying a solution of gold and cyanide.
Peruvian President Martin Vizcarra says his government will likely pass laws within six months needed to tap a new lithium and uranium deposit, removing a major hurdle for Canadian miner Plateau Energy Metals' proposed $800 million mine.
30-year reserve life.
The president of Peru’s National Society of Mining, Petroleum, and Energy said the project will create 9,000 jobs during its construction phase and additional 2,500 once it goes into production.
The company was deemed not eligible for an automatic approval of its drilling permit for the Cerro Hermoso project.
Koricancha is located about 50km from Inca One’s own processing facility and the potential to produce 50,000 to 75,000 ounces of gold a year.
The Canadian miner plans to acquire the rights to the Milenos 32 concession adjacent to its Cerro Hermoso project in Peru.
The mining sector showed an interannual growth of 0.16 per cent in May.
Copper bears drop price 11% in 3 weeks, but new report shows labour contracts still up for renewal threaten 3 million tonnes of production just in Chile.
Miners around the globe produced 330,000 more tonnes of copper between January and March this year than in the same period of 2017, helped by higher production in world’s leader Chile.
Sumitomo’s move comes as Japanese trading companies have been grabbing assets and increasing their stakes on a few of them thanks higher commodities prices, which have boosted their profits.
Anglo will sell a 21.9% stake in its Peruvian copper project to Mitsubishi, increasing the Japanese firm’s stake in the venture to 40%.
Reaching agreements with residents near the project is expected to take about a year, followed by three to build the mine, which will begin operations by 2022.
As scrap ban bites Chinese traders up May cargoes 37% year on year.
The investment will increase the mine's copper output by 45 percent by 2020, with the value of production exceeding $2 billion annually.
China is Peru's top trade partner and imports most of the minerals the South American country produces.
Southern Copper Corp. is preparing to scale the ranking of global producers by spending more than $10 billion in Peru and Mexico.
The two companies jointly own the Coimolache mining company in Peru, and are both junior partners in large mines in Peru controlled by U.S.-based companies.
Bear Creek would also consider selling a stake in the $550m Corani project in southern Peru to help pay for the project.
Buenaventura’s U.S. shares have surged 63 percent in the past two years, the most among peers.