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Peru Suspends Key Permit for Southern Copper – Report

Metal News - Published on Tue, 13 Aug 2019

Image Source: Reuters
Reuters reported that Peru suspended a recently issued construction permit for Southern Copper’s Tia Maria mine, a project that has triggered violent protests by nearby residents. The permit will be suspended until government officials evaluate its legality along with objections from local authorities in the Arequipa region where Tia Maria, a USD 1.4 billion project, would be built, Energy and Mines Minister Francisco Ismodes told local broadcaster RPP. The review will likely take two to three months.

Southern Copper Corp a unit of Grupo Mexico has sought to build Tia Maria for nearly a decade, but opposition from local farmers and residents who fear pollution and loss of water supply has thwarted the effort.

The mine project, expected to produce 120,000 tonnes of copper per year, has been the focus of debate over whether the significant tax revenues from mines outweigh the objections of people who live near them.

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Posted By : Rabi Wangkhem on Tue, 13 Aug 2019
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