SMM, March 1-the Peruvian government may provide construction permits for the company's $1.4 billion Tia Maria project before its environmental license expires in August, Peru's energy and mining minister said Thursday.
If the company is not licensed by August, it may have to wait another year because the government has to re-examine its environmental impact. Southern Copper said earlier this month that it expected to receive the license "within a very short period of time".
The energy and mining minister says it is a priority for the government, so it can be implemented in 2019. The mine will produce 120000 tons of high-grade copper a year.
The Tia Maria project is a rare example because it will restore several mines that have been blocked by local opposition groups in Peru. Peruvian companies are keeping a close eye on Tia Maria, which will show Peruvian President Martin Vizcarra's attitude towards the mining industry. In Peru, the mining industry is a key driver of economic growth and a lightning rod to prevent conflict in distant provinces.
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