Southern Copper to revive Tia Maria project

Peruvian copper producer Southern Copper, a subsidiary of Southern Copper,had decided to restart development of its long-postponed Tia Maria project in the Islay province of Peru’s Arequipa region, reported Reuters.

Tia Maria has been on hold for years amid community opposition over fears of the mine’s environmental impact. The news agency noted that protests against the controversial mine left six people dead between 2011 and 2015.

An internal memorandum issued last month by Grupo Mexico and Southern Copper, and reviewed by Reuters, notified employees about the start of work on July 1. Grupo Mexico did not immediately respond to a Reutersrequest for comment.

In May, Southern Copper Vice President of Finance Raul Jacob told Reuters that the $1.4 billion mine was slated to break ground by the end of the year or in the first half of 2025.

In 2019, the Peruvian government agreed with Southern Copper that development of the project could proceed when there were adequate social conditions. Tia Maria is eventually expected to produce 120,000 tons of copper annually.

Source: Reuters

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