The Antapaccay copper mine in Peru says the mine has been blocked by the local community to stop operation.

On March 11, 2021, Glencore's Antapaccay copper mine in Peru said that the mine had been blocked by the local community and that the mine had ceased operation. The government has arranged for the mine to meet with the local community on March 12 local time to develop a compensation plan for local residents affected by mine operations. On March 9th, Glencore's Peruvian Antapaccay Mining Company said that since the 8th, communities near Espinar in Peru have protested against the Antapaccay copper mine, blocking access to mining facilities and affecting copper production. Antapaccay is the sixth largest copper mine in Peru, with Antapaccay's own copper production of 186000 tons in 2020, a decrease of 6% over the same period last year, mainly due to the decline in Antapaccay ore grade.

Mining company Antapaccay SA announced the suspension of activities due to obstruction of the main road and its facilities in Pienaar, Cusco province. Since last Monday, 8 March, residents of 11 peasant communities in Espinar (Espinar) have launched a protest that has affected the free movement of workers.

The mining company document states: "the main access to our facilities remains blocked, affecting the normal conduct of production activities and putting our personnel and contractors at risk."

Based on this, Antapaccay Mining urges the Government to resume dialogue with the local population in order to resume its activities under all necessary health and safety conditions.

"this has a negative impact on the communities around us, because ongoing social investment projects will have to be paralyzed, because this insecurity also affects the people working on these projects," he concluded. "

Community leaders called for the approval and implementation of compensation schemes for populations affected by mining activities and the establishment of public norms to enable regional and local governments to regulate and reasonable access to resources and to promote the development of local communities.

SMM believes that the occurrence of the incident will not have an impact on the copper concentrate in the short term, but it is still necessary to pay attention to the continuous fermentation of the event.

According to SMM data, imported copper concentrates have been on a downward trend since 2021. SMM analysts believe that copper concentrate TC will remain relatively low in the first half of the year, copper supply will ease in the second half of the year, copper concentrate TC should pick up.

TC trend of imported copper concentrate from SMM