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Peruvian mining companies are expected to resume full operation by the end of July
Jul 12,2020 17:17CST
translation
Source:Mandarin Finance and Economics
According to foreign news on July 9, Peruvian Minister of Energy and Mining Susana Vilca said that Peruvian mining companies are expected to restore 100% capacity by the end of July after the government ended the nationwide anti-epidemic blockade last week.
The content below was translated by Tencent automatically for reference.

SMM: according to foreign news on July 9, Peruvian Minister of Energy and Mining Susana Vilca said that after the government ended the nationwide anti-epidemic blockade last week, Peruvian mining companies are expected to restore 100% capacity by the end of July.

Vilca, which took office in February, said that Anglo American's $5 billion Quellaveco, Mindor's $1.6bn Mina Justa and Chinalco's $1.5 billion Toromocho expansion investment had also been delayed "for several months" after the blockade halted mining production in mid-March.

At least 1000 miners, including Antamina, Toromocho, Nexa Resources and Minsur, tested positive for the new crown virus.

"We can see from the electricity demand that operations are gradually returning to normal," Vilca told foreign reporters at an online conference. "We are confident that production will return to 100 per cent by the end of July and we will see a major recovery by December."

Companies including Freeport-McMoRan, Antamina, Newmont, Hudbay Minerals, Pan American Silver, Sierra Metals, Nexa Resources, Hochschild Mining, Minsur and Buenaventura have all resumed operations after implementing security procedures.

According to the Ministry of Mines, Peru, the world's second largest producer of copper, zinc and silver, produced 768463 tons of copper (down 22.6 percent), 398771 tons of zinc (down 29 percent), 83723 tons of lead (down 33 percent), 6196 tons of tin (down 26.4 percent), 36155 kilograms of gold (down 32.8 percent) and 1.05 million kilograms of silver (down 31.6 percent) in May.

Peru is the country with the worst outbreak after Brazil, with 312911 cases of coronavirus infection and 11133 deaths reported so far.

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