Peru’s Las Bambas mine is planning to invest $430.8mn to improve its operations and develop infrastructure projects to increase its copper output.

 

According to media reports, the Peruvian miner is expected to work at full capacity between August and September this year after suspending operations for about two months due to the COVID-19 pandemic.

 

Copper concentrate production at Las Bambas reached 199,411mt in Q1 2020, down from 265,311mt during the same quarter of 2019. Las Bambas produced 382,518mt of copper in 2019.

The project is a joint venture between China’s MMG, which owns 62.5pc, a wholly-owned subsidiary of Guoxin International Investment, which owns 22.5pc and CITIC Metal, which has a 15pc stake.

Peru’s mining output fell by 45.7pc in May this year driven by lower production of iron ore, copper, zinc, lead, and molybdenum due to miners halted operations for the COVID-19 pandemic.

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