Industrial metal prices tumble as President Xi's defiant speech intensifies trade war fears, offer little on economic stimulus or market reforms.
Southern Copper Mining News
On the positive side, the Andean country's iron ore production grew by 66.8% when compared to the previous year.
The recently-created Directorate for Mining Promotion and Sustainability will be in charge of identifying the regions with the mining highest potential.
The walkout, which involved 3,000 members of two out of the five Southern Copper unions in Peru, has been declared illegal by the labor ministry.
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.
Is the industrial metals and steelmaking raw materials rally at en end?
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.
The London Metal Exchange’s three-month copper contract fell as much as 1.4%, the most since Feb. 10, to $4,580 a metric ton.
The fresh collapse dragged main producers down, with BHP Billiton, the world’s largest miner, hitting a decade-low.
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.
Six people have been killed in anti-mining protests so far this year, including three at last week's clash between police and locals near Las Bambas copper mine.
The company could extend a 60-day pause in effect since late May to allow locals more time to clear up their doubts about the project’s environmental impact.
The move suspends civil liberties, allowing police and troops to enforce curfews in an effort to end two months of fresh violence in Arequipa.
The Peruvian government has deployed troops near the Tia Maria copper project, to deal with the deaths of a protester and a policeman over the past week.
Farmers, anti-mining activists and local leaders have opposed the project for years, claiming it will pollute key waterways for Arequipa, where the mine will be built.
The expansion will boost the capacity of the Peruvian mine's copper concentrator to 120,000 tonnes per day from 60,000.
Minister of the Environment Manuel Pulgar-Vidal said the debated and long-delayed copper mine won’t hurt water supplies as opponents claim.
German Larrea is purchasing stock in mining unit Southern Copper Corp. (SCCO) to reinforce confidence amid falling metal prices.
Around 15,000 of the total 55,000 licences in effect risk fines and even losing all privileges over the land.
Chinese backers are now behind one-third of all Peru’s new mining investments by value.