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Peruvian Southern Copper Company (Southern Copper Corp) has been approved by the Tia Maria Copper Project
Oct 31,2019 08:13CST
The content below was translated by Tencent automatically for reference.

On October 30, local time, the Peruvian government gave an important green light to the long-delayed Tia Maria copper mine of (Southern Copper Corp), the southern copper company, but warned that the project would not be able to proceed if appropriate social and environmental conditions were not met.

After violent protests, the authorities suspended construction permits and SCCO had to cancel its work in August to allow officials to assess objections from residents and local authorities to the construction site of the factory.

"however, we also reiterate that our government will not implement the Tia Maria mining project without environmental and social conditions for development," the Peruvian government said. "

Starting Thursday, the Environmental Inspection Committee will assess the feasibility of the project, officials added.

SCCO hopes the project will be completed by 2020; once completed, the mine is expected to produce 120000 tons of copper a year for an estimated 20 years of service life.

Peru, the world's second-largest copper producer, whose mining industry accounts for 60 per cent of its exports, is seen as the key to increasing investment.

Manuel Fumagalli (Manuel Fumagalli), president of the National Institute of Mining, Petroleum and Energy, said in a statement: this is an important signal that will promote investment in the mining industry and the national economy.

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