Protest against the suspension of the Las Bambas mine, in Lima
Wed, February 22, 2023
By Marco Aquino
LIMA (Reuters) - Peruvian protesters have temporarily lifted blockades of a key mining highway in the country's south, sources told Reuters on Wednesday, a boost for activity at major copper mines that saw activity hit in recent weeks as supplies were choked off.
The "mining corridor" highway, an important transport route for mines including Glencore Plc's Antapaccay and Las Bambas, owned by China's MMG Ltd, has in recent days been unblocked after weeks of protests, the sources said.
"The corridor is clear, some sections are damaged, but it is free," said a source close to Las Bambas, which normally provides some 2% of global copper supply, though saw mining activity significant reduced in recent weeks.
"We were in a state of maintenance care, with minimal production so as not to have to stop," the person said. Las Bambas has a long history of dealing with community protests that have at times stymied operations in recent years.
Las Bambas: maintenance mode?
Anti-government protests have hit Peru, the world's no. 2 copper producer, since the Dec. 7 ouster of leftist President Pedro Castillo, who illegally tried to dissolve Congress and reorganize the judicial system. Blockades have affected mines, hitting shares and buoying prices of the metal.
The number of blockades has declined over the last week to around 37 on Wednesday from more than a hundred in January, with talk of a "truce" around the recent festive Carnival period, an important holiday in the region.
"With this truce we are gradually returning to operations, progressively, but we don't know what will happen next," said a source close to Antapaccay, who said the mine has stopped production in mid-January but since resumed at minimum levels.
Publicly available power use data analyzed by Reuters shows that Las Bambas has seen sharp swings in activity since a drop in early February due to a lack of key supplies. Power use at Antapaccay has been under 50% normal levels since Feb. 9.
Antapaccay:
The sources said community members involved in protests were planning meetings in coming days and blockades could be resumed. Several communities in the southern Cusco region are expected to meet on Thursday to discuss their next steps.
The protests, which are calling for the resignation of new President Dina Boluarte, the closure of Congress, a new Constitution and early elections, have left 49 dead in clashes and 11 dead in accidents linked to the blockades.
Boluarte has looked to rally political support in recent days amid infighting amongst lawmakers over plans to bring elections forward to this year. She has also authorized payments to relatives of those killed on injured in the protests.
Peru Mines: 7-day average power use
(Reporting by Marco Aquino; Editing by Adam Jourdan and David Gregorio)
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