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☆ Peru miners say copper output could climb without impact from protests
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Marco Aquino Acquire Licensing RightsLIMA, Nov 7 (Reuters) - The head of Peru's mining guild on Tuesday said that while copper mining investment might be slow to recover next year, the Andean country could still see growth in production of the metal if large-scale mines are not affected by social protests. Victor Gobitz, president of SNMP - the top mining guild for the world's No. 2 copper-producing country - said 2024 output could hit 2.7-2.8 million metric tons, up from 2.6-2.7 million tons forecast for this year and 2.45 million tons hit in 2022. Mining output was slammed by stoppages early this year during nationwide protests against the government of President Dina Boluarte after the ouster and arrest of her predecessor, Pedro Castillo. Peru's copper output has reached 1.77 million tons through the first eight months of this year, according to official data.

Persons: Marco Aquino, Victor Gobitz, Gobitz, Dina Boluarte, Pedro Castillo, Sarah Morland, David Gregorio Our Organizations: REUTERS, Rights, SNMP, BHP, Mitsubishi, El, Thomson Locations: Tapairihua, Peru's Andes, Teck

☆ Peru seeks mining investment revival with pledge to end 'chaos, disorder'
▼ + stars: | 2023-09-27 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

[1/2] Trucks remain stuck during a roadblock caused due to a demonstration by anti-government protestors demanding the resignation of Peru's President Dina Boluarte, in Condoroma in Cusco region, Peru February 4, 2023. REUTERS/Pilar Olivares/File Photo Acquire Licensing RightsSummaryCompanies Peru mining investment expected to drop 18% this yearMiners push to use contractorsGovernment aims to streamline environmental permittingLIMA, Sept 27 (Reuters) - Peru is looking to put the "chaos" of months-long protests earlier this year behind it to revitalize flagging mining investment in the world's no. As a mining conference in the southern Andean region of Arequipa got started this week, Prime Minister Alberto Otarola addressed concerns about political instability and protests that have led to an expected 18% drop in mining investment this year. The last major investment in Peru was Anglo American (AAL.L)'s $5 billion Quellaveco project, which came online last year and has helped buffer production figures. Reuters GraphicsReporting by Marco Aquino; Editing by Adam Jourdan and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Dina Boluarte, Pilar Olivares, Alberto Otarola, Otarola, Raúl Jacob, Pedro Castillo, Boluarte, Mines Oscar Vera, Victor Gobitz, Gobitz, Marco Aquino, Adam Jourdan, Sonali Paul Organizations: REUTERS, Companies, Miners, Reuters, Mining, Grupo Mexico's, Reuters Graphics, of Energy, Mines, BHP, Mitsubishi, Thomson Locations: Condoroma, Cusco region, Peru, Companies Peru, LIMA, Arequipa, American, Teck

☆ Analysis: Peru copper miners say red tape snarling red metal production ramp-up
▼ + stars: | 2023-07-07 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

[1/5] Trucks from the Las Bambas mine circulate along the mining corridor between Sayhua and Ccapacmarca, near Ccapacmarca, Peru, January 19, 2022. REUTERS/Sebastian Castaneda/File PhotoLIMA, July 7 (Reuters) - Copper miners in Peru, already battling political uncertainty and regular protests, say they have another hurdle to revving up stalled production of the red metal: too much red tape. 2 copper producer, has seen output plateau in the last five years as political instability, revolving governments and flagging investment has let rival producer Congo almost overtake it. 1 producer Chile has also seen production slide, dented by political uncertainty around taxes and regulation. Until that happens, mining executives said Peru's $53 billion mining investment pipeline, largely copper, would only move forward slowly, despite government hopes that some $7 billion of that being unlocked in 2023 and 2024.

Persons: Sebastian Castaneda, LIMA, Raul Jacob, Jorge Soto, it's, Víctor Gobitz, Tia Maria, Marco Aquino, Adam Jourdan, Sandra Maler Organizations: REUTERS, Congo, Reuters, World Bank, BHP, Newmont Corp, Thomson Locations: Sayhua, Ccapacmarca, Peru, Lima, Chile, Canada, Mexico

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