MMG (HKG: 1208) said on Monday that it will have to halt production at its Las Bambas copper mine in Peru by February 20, following a new and ongoing blockade of the road used by the company, which has already forced the Chinese miner to curtail operations.
Residents of the Chumbivilcas province have been blocking the main access to Las Bambas on and off since November 20. They demand jobs and economic contributions from the company, a unit of state-owned China Minmetals, which they say has failed to benefit residents despite its great wealth.
Communities along the road asked for more logistics transport contracts, financial compensation for the land used to build the mining road and actions to reduce alleged damage to their crops caused by the large number of trucks on the road every day.
They also wanted to set a fund with 8% of the mine’s annual profits to finance productive and social development projects, while the company offered financing for individual social projects.
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