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LONDON, Nov 23 (Reuters) - Chilean copper miner Antofagasta (ANTO.L) last week inked the first major 2024 concentrates supply deal with China's Jinchuan Group. Indeed, it's far from certain there will be a single benchmark for next year due to a shifting copper concentrates landscape. Annual "benchmark" copper smelter treatment chargesSPLIT BENCHMARK? Other members of China's Copper Smelters Purchase Team, a grouping of the country's biggest players, have rejected Jinchuan's terms as a benchmark. Its new Manyar copper smelter will start ramping up from May.

Persons: Freeport, Chen Yunian, Jinchuan, it's, Jan Harvey Organizations: China's Jinchuan, TC, Freeport McMoRan, HK, Study, China's, Copper, Reuters, Thomson Locations: Antofagasta, Jinchuan, Freeport, Indonesia, Panama, Peru, Chile, China, Jiangxi, Canada, Botswana

☆ Union set to strike at Peru's Las Bambas copper mine next week -leader
▼ + stars: | 2023-11-20 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

The Las Bambas copper mine is pictured in Apurimac, Peru May 9, 2022. Erick Ramos, general secretary of the Las Bambas workers union, told Reuters by telephone the union had agreed to go on a strike with no set end date starting Nov. 28. Representatives for Las Bambas did not immediately respond to requests for comment. The union had already kicked off a strike on Sunday, which is set to end Tuesday, over the profit sharing. The union, which represents more than 1,000 workers, is currently registering the strike set for Nov. 28 with the labor ministry, Ramos said.

Persons: Angela Ponce, Erick Ramos, Ramos, Bambas, China's MMG, Pedro Castillo, Marco Aquino, Isabel Woodford, Kylie Madry, Louise Heavens, Kirsten Donovan, David Gregorio Our Organizations: REUTERS, Rights, Workers, Reuters, China's, HK, Thomson Locations: Apurimac, Peru

☆ Union strike underway at MMG's Las Bambas copper mine in Peru
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

The Las Bambas copper mine is pictured in Apurimac, Peru May 9, 2022. REUTERS/Angela Ponce/File Photo Acquire Licensing RightsLIMA, Nov 20 (Reuters) - A multi-day strike is underway at the Chinese-owned Las Bambas copper mine in Peru, the leader of the workers union said on Monday, as part of its demands to improve profit sharing protocols. Erick Ramos, general secretary of the Las Bambas workers union, told Reuters by telephone that the union is considering an indefinite strike from Nov. 28 if the company does not meet its demands. Las Bambas, which began operations in 2016 and is owned by China's MMG Ltd (1208.HK), is one of the largest copper producers in Peru, the world's second largest producer of the metal. A source close to the Las Bambas mine said earlier on Monday that the protest began on Sunday and that the strike was being "partially and peacefully" adhered to.

Persons: Angela Ponce, Erick Ramos, China's MMG, Ramos, Marco Aquino, Isabel Woodford, Louise Heavens, Kirsten Donovan Organizations: REUTERS, Rights, Reuters, China's, HK, Ministry of Labor, Thomson Locations: Apurimac, Peru

☆ Peru's Boluarte calls protests 'threat to democracy,' key mining zones to back them
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] Demonstrators participate in a march called by Peru's General Workers Union against President Dina Boluarte's administration, in Lima, Peru, March 9, 2023. REUTERS/Alessandro Cinque/File PhotoLIMA, July 18 (Reuters) - Peru's President Dina Boluarte said on Tuesday that anti-government protests expected to begin this week are "a threat to democracy and the rule of law," seven months after the ousting of her predecessor launched months of deadly protests. Key mining areas in Peru are planning to support a new round of anti-government protests, said Jose de Echave, the head of environmental NGO CooperAccion, who added that groups of miners from the Andean country's key copper mining corridor are set to arrive in Lima. Peru's is the world's second-largest copper producer and its mining corridor in Condoroma, Cusco, is used by MMG's . Reporting by Marco Aquino; Writing by Sarah Morland; Editing by Alexander Villegas, William MacleanOur Standards: The Thomson Reuters Trust Principles.

Persons: Dina Boluarte's, Alessandro Cinque, LIMA, Dina Boluarte, Boluarte, Pedro Castillo, Jose de Echave, Peru's, Marco Aquino, Sarah Morland, Alexander Villegas, William Maclean Organizations: Peru's General Workers Union, REUTERS, HK, Thomson Locations: Lima , Peru, Peru, Lima, Condoroma, Cusco

☆ 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

LIMA, Feb 16 (Reuters) - Peru's top copper mines are starting to see activity hit harder by protests and blockades in the country's southern Andes, power data reviewed by Reuters shows, with Chinese-owned Las Bambas and Glencore PLC's Antapaccay currently worst affected. Those are MMG's (1208.HK) Las Bambas, Peru's third largest copper mine, and Glencore's (GLEN.L) Antapaccay, which have both been hit by blockades on a key mining corridor highway. The data backs this up, suggesting that mines are at times getting some supplies through the blockades, with Las Bambas in recent days see-sawing between full and half power use. Reuters GraphicsRepresentatives from Las Bambas, Antapaccay and Constancia were not immediately available to comment on whether they were receiving inputs for their operations or sending their concentrates in the two-day window with the blockades eased. "Anecdotal reports and high frequency data suggest that ongoing civil unrest in Peru is beginning to choke off activity at key copper mines.

The analysis of power usage data by Reuters at some of the key mines in Peru, the world's no. The South American nation has been gripped by anti-government protests since the Dec. 7 ouster of leftist President Pedro Castillo. The power data from COES, which represents firms in Peru's energy sector, shows that nearly all major mines are drawing normal or near-normal levels of electricity. A combined index of six key mines is near normal. The other firms did not immediately respond to requests for comment about activity at their mines in Peru.

[1/5] Demonstrators take part in a protest to demand Peru's President Dina Boluarte to step down, in Lima, Peru, January 31, 2023. The protests began after Congress removed President Pedro Castillo on Dec. 7. His ouster fired up anger against the elite, especially in poor rural Andean regions in Peru's south, which had propelled Castillo, a leftist former teacher and political novice, to the presidency in 2021. Castillo's vice president, Dina Boluarte, took over as Peru's sixth president in five years following his ouster. Establishing a timeline for new elections could calm the protests, but even that may not solve Peru's political woes in the longer run.

☆ China's MMG flags production halt at Las Bambas in Peru due to protests
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

Jan 30 (Reuters) - Chinese copper miner MMG Ltd (1208.HK) said on Monday its Las Bambas mine in Peru would likely have to halt production from Feb. 1 due to a shortage of "critical supplies" leading to a slowdown of operations. The Melbourne-headquartered miner said the shortage of supplies was due to transport disruptions from protests in Peru. Peru, the world's second-largest copper producer, has been gripped by growing unrest following weeks of sometimes violent anti-government protests triggered by the ouster of the country's former president last month. Glencore (GLEN.L) suspended operations at its Antapaccay copper mine on Jan. 20 after protestors attacked the premises for a third time. A source at MMG had told Reuters production would continue as long as there was a stock of supplies, but MMG said on Monday that supplies were running low.

☆ Chinese-owned copper mine in Peru may halt production over unrest
▼ + stars: | 2023-01-29 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

LIMA (Reuters) - The huge Chinese-owned Las Bambas copper mine in Peru, normally the supplier of 2% of the metal worldwide, could halt production this week due to protests and blockades that are starting to snarl output of the red metal amid already tight global supply. REUTERS/Angela Ponce/File PhotoThe Andean nation, the world’s second-largest copper producer, has seen growing social unrest since early December, with key mines hit by road blockades and attacks by protesters, mainly impacting transportation of copper rather than production. A source close to the Las Bambas operation said road blockades had been extremely effective and usually were rebuilt after being cleared. A Reuters analysis of power usage by key Peru copper mines, which can be an indicator of mining activity, shows that the protests, while hitting transportation, have yet to fully weigh on production. GRAPHIC: Peru Mines: Power use - hereGRAPHIC: Peru: mines and power - here

☆ Exclusive: Glencore copper mine in Peru running at 'restricted' capacity due to protests -source
▼ + stars: | 2023-01-17 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

LIMA, Jan 17 (Reuters) - Glencore Plc's (GLEN.L) huge Antapaccay copper mine in Peru is operating at "restricted" capacity due to anti-government protests that saw an attack on the facility last week, a company source told Reuters on Tuesday. "The mine has not yet suspended operations, which overall continue in a restricted manner," the company source said, asking not to be named. Road blockades by protesters were preventing trucks from moving its copper, the source said. Last week, two Antapaccay company vehicles were burned and the area around the workers' housing was attacked. Las Bambas mine, owned by China's MMG Ltd (1208.HK) in the Apurimac region, has also seen transport of copper concentrates impacted by the blockades.

☆ Peru's mining south, rocked by violence, braces for 'endless battle'
▼ + stars: | 2023-01-10 | by ( Marco Aquino | ) www.reuters.com time to read: +5 min

The anger in the Andean south looks likely to harden, protest leaders told Reuters, a major risk to firms in the world's no. "This is an endless battle," said Edgar Chura, leader of the Puno Defense Front protest group before the Monday clashes, a view shared by other protest leaders who spoke with Reuters. Protest leaders, meanwhile, say that a government proposal to bring elections forward to April 2024 is not enough. Jose Luis Chapa, a protest leader and workers union official in Arequipa, said new elections must be held this year if the government wanted dialogue. "The agreement is not to talk with anyone from government, least of all Dina Boluarte," the mining region protest leader said, adding protests would be "staggered" around the south.

☆ Key mining route cleared after days of protests, Peru government says
▼ + stars: | 2022-12-24 | by ( ) www.reuters.com time to read: +1 min

Dec 24 (Reuters) - A key road for mining transportation in Peru was cleared after days of protests, a government minister said, as the country struggles with political tensions following the ousting and arrest of former President Pedro Castillo. The so-called southern mining corridor in the Cusco region was cleared on Friday afternoon after a meeting between local and trade organizations, Energy and Mines Minister Oscar Vera said in a statement. Demonstrators have blocked roads and forced the closure of airports as part of protests after the arrest of Castillo and the designation of Dina Boluarte as president. The southern corridor is key for important mines including Las Bambas, which is one of the world's largest copper mines and is owned by China's MMG Ltd (1208.HK). The road has suffered other blockades this year due to protests by neighboring communities who demanded more benefits from the exploitation of resources.

☆ Peru President Boluarte pledges early elections after protests turn deadly
▼ + stars: | 2022-12-12 | by ( Marco Aquino | ) www.reuters.com time to read: +3 min

LIMA, Dec 12 (Reuters) - Peru's new President Dina Boluarte said early on Monday she would submit a bill to Congress to bring general elections forward two years to April 2024, amid protests in the Andean nation following the ouster of former leader Pedro Castillo. "I have decided to present a bill to reach an agreement with Congress to bring forward the general elections to April 2024," Boluarte, 60, said in a speech to the nation. Boluarte said she would present the bill in "coming days" after two teenagers were killed and four people injured in Peru on Sunday during protests demanding the country hold general elections following the ouster of Castillo. Demonstrators, many of them Castillo supporters, have for days demanded Peru hold new elections rather than allow Boluarte to stay in power until 2026, when Castillo's term would have ended. Reporting by Marco Aquino; Writing by Anthony Esposito; Editing by Kim Coghill and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Small-scale copper miners are now challenging Big Copper for territorial control of rich deposits of the red metal. In Peru, artisanal mining permits have doubled to 80,000 since 2020, government records show. Peru's leftist administration presented a new framework for artisanal mining last week that declared artisanal mining is "as important" as big mining. "Where we have concessions we can't have (artisanal mining permits)," Rojas said. The number of valid artisanal mining permits in Tapairihua has fallen from 100 to 32 since May, according to government records.

☆ Chinese copper companies say more mining is needed to boost supply
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

Chile's Codelco, the world's largest copper miner, said this week it would extend maintenance work at its Chuquicamata smelter to 135 days, from an initially planned 90-day stoppage. China is the world's top user of copper and relies on imports for about 25% of its consumption. Mining companies should mine deeper and broader and work on extending the life of their mines, while smelting companies should speed up overseas resource development and optimize their layout over the industry chain, the Chinese companies are reported to have said at the meeting. Last week, Canada ordered three Chinese companies to give up their investments in Canadian minerals, citing national security. read moreChina produced 10.49 million tonnes of refined copper last year and imported 23.40 million tonnes of copper ore and concentrate.

☆ Peru cuts growth forecast due to global slowdown, political delays
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

Peru is the world's second-biggest producer of copper, considered an economic bellwether due to its many uses across industry, transport, communications and construction. Burneo also broadened Peru's 2023 growth projection to between 3.1% and 3.9%, from an August estimate of 3.5%. He announced 10 new measures aimed at promoting growth via public investment, private sector projects and boosting domestic consumption. Protests have repeatedly disrupted transport along Peru's main copper corridor in recent months, causing an extended shutdown at China-based MMG's (1208.HK) Las Bambas mine. But despite the downwardly revised forecast, Deputy Finance Minister Alex Contreras told reporters the government's fiscal targets are "guaranteed."

☆ MMG to invest $2 billion at its troubled Peruvian Las Bambas mine
▼ + stars: | 2022-09-27 | by ( Marcelo Rochabrun | Marco Aquino | ) www.reuters.com time to read: +2 min

LIMA (Reuters) -Chinese miner MMG Ltd expects to invest $2 billion in the next five years to expand its troubled Las Bambas copper mine in Peru and is eyeing potential acquisitions to further increase production, an executive said on Tuesday. FILE PHOTO: General view of a mine operated by MMG Las Bambas, outside of Cusco, Peru October 14, 2021. 2 copper producer and Las Bambas is one of the largest producers of the red metal in the world. Las Bambas opened in 2016 in the Peruvian Andes, but has suffered recurrent disruptions from indigenous communities who say its vast mineral wealth has not translated into better living conditions. Those disruptions reached a new peak this year when members of two neighboring communities settled inside Las Bambas, forcing the company to suspend all operations for over 50 days.

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