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Negotiations continue deadlocked! The world's ninth largest copper mine is still hopeless
Previously, the mining industry has been on the Peruvian LAS BAMBAS mine shutdown related news reported: "the world's 9th largest copper mine shutdown, why?" the latest developments show that so far the negotiations are not optimistic.
Previously, the mining industry had reported on the shutdown of the LAS BAMBAS mine in Peru:"The world's 9th largest copper mine shut down, why?The latest developments show that the negotiations so far are not optimistic.
On December 15, MINING.COM reported that Peru's prime minister said,The road blockade at the LAS BAMBAS copper mine will not "last much longer".
On December 16, Minmetals Resources disclosed,The mine's ongoing dialogue with the Chumbivilcas community remains unsuccessful, and as of December 18, 2021 (Peru time),Las Bambas will not be able to continue producing copper.
It is understood that the Prime Minister of Peru said,The 26-day road blockade affecting the Las Bambas copper mine could not "last much longer" as negotiations between the mine and the local community continue to be deadlocked and the mine could face closure.
"These talks can sometimes drag on because it is not easy to reach a consensus," Prime Minister Mirtha Vasquez told reporters, referring to the clashes. "But this situation cannot last long."
Chumbivilcas Province is located on the road from the Las Bambas mine to the cargo port, where a road for transporting ore passes through. The surrounding residents believe that the goods from the mine have been transported here and should benefit the residents of the communities around the road. Residents of the province, whose roads have been blocked since November 20, are demanding that the mine provide them with jobs and a higher economic contribution.
According to MINGING reports, Las Bambas proposed to pay each community 100000 soles (Peruvian currency, about 24700 U.S. dollars) per year, but local residents were unhappy with the request.
Minmetals's latest announcement shows that as of December 16, ongoing conversations with the Chumbivilcas community remained unsuccessful to reach a solution to remove the barricades, resulting in the mine running out of critical consumables.As inbound and outbound logistics are still blocked, Las Bambas will not be able to continue producing copper as of December 18, 2021 (Peru time). Copper concentrate production is expected to be about 290000 tons as of December 18, 2021. Mine stocks are currently about 60770 tons of copper in copper concentrate.
Minmetals said its primary focus remains ensuring the health, safety and security of its employees, contractors and related community members. The company continues to demand the immediate removal of roadblocks and the possibility of transparent, open and constructive dialogue. The company is committed to working closely with the Peruvian government and community members to reach lasting agreements.
Source: Mining Industry
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