Protesters block roads to Glencore’s Antapaccay mine in Peru
Reuters | March 31, 2025 |
Antapaccay copper mine in Peru. (Photo: Glencore)
Protesters are blocking access to Glencore’s Antapaccay copper mine in the Cusco region of Peru, a local community leader and a source close to the company said on Monday.
Residents of nearby towns on Sunday began blocking roads to the mine to protest a major expansion project, said community leader Flavio Huanque.
(By Marco Aquino; Editing by Daina Beth Solomon)
Bloomberg News | March 31, 2025 |
Las Bambas is considered the world’s ninth-largest copper mine with an output of about 400,000 tonnes of the industrial metal per year. (Image courtesy of MMG.)
Chinese-owned metals producer MMG Ltd. attempted to reassure investors about its prospects in Peru, saying a surge in “illegal” mining activity in the country isn’t affecting its copper production or development plans.
The company — a unit of state-owned China Minmetals Corp. — shared concerns with the Peruvian government about a “significant increase in illegal mining activity,” MMG said in a March 31 post on its website. The firm’s shares in Hong Kong fell as much as 6.1% on Monday, more than most peers.
The statement is a response to last week’s Bloomberg News article about the emergence of a large, informal mine run by thousands of local community members on the Sulfobamba area of MMG’s Las Bambas concession. That puts MMG and the community on a collision course given Sulfobamba will host the company’s planned third phase of mining in Peru.
To be sure, MMG isn’t the only mining company affected by informal operations, with both Southern Copper Corp. and First Quantum Minerals Ltd. suffering disruptions at their projects.
Mining at Sulfobamba isn’t due to start for another decade and the company is in talks with “all stakeholders” to ensure that the future pit “can be operated sustainably and in a way that benefits host communities,” MMG said.
MMG has only explored 10% to 15% of the concession, and is looking for for new deposits. Its mining operations continue to produce in line with 2025 guidance of between 360,000 metric tons and 400,000 tons, MMG said.
Reuters | March 31, 2025 |
Antapaccay copper mine in Peru. (Photo: Glencore)
Protesters are blocking access to Glencore’s Antapaccay copper mine in the Cusco region of Peru, a local community leader and a source close to the company said on Monday.
Residents of nearby towns on Sunday began blocking roads to the mine to protest a major expansion project, said community leader Flavio Huanque.
(By Marco Aquino; Editing by Daina Beth Solomon)
MMG seeks to reassure investors amid Peru ‘illegal’ copper boom
Bloomberg News | March 31, 2025 |
Las Bambas is considered the world’s ninth-largest copper mine with an output of about 400,000 tonnes of the industrial metal per year. (Image courtesy of MMG.)
Chinese-owned metals producer MMG Ltd. attempted to reassure investors about its prospects in Peru, saying a surge in “illegal” mining activity in the country isn’t affecting its copper production or development plans.
The company — a unit of state-owned China Minmetals Corp. — shared concerns with the Peruvian government about a “significant increase in illegal mining activity,” MMG said in a March 31 post on its website. The firm’s shares in Hong Kong fell as much as 6.1% on Monday, more than most peers.
The statement is a response to last week’s Bloomberg News article about the emergence of a large, informal mine run by thousands of local community members on the Sulfobamba area of MMG’s Las Bambas concession. That puts MMG and the community on a collision course given Sulfobamba will host the company’s planned third phase of mining in Peru.
To be sure, MMG isn’t the only mining company affected by informal operations, with both Southern Copper Corp. and First Quantum Minerals Ltd. suffering disruptions at their projects.
Mining at Sulfobamba isn’t due to start for another decade and the company is in talks with “all stakeholders” to ensure that the future pit “can be operated sustainably and in a way that benefits host communities,” MMG said.
MMG has only explored 10% to 15% of the concession, and is looking for for new deposits. Its mining operations continue to produce in line with 2025 guidance of between 360,000 metric tons and 400,000 tons, MMG said.
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