Two fires hit key copper projects in Peru amid protests -sources – by Marcelo Rochabrun (Reuters – June 1, 2022)

LIMA, May 31 (Reuters) – Two fires broke out at key copper projects in Peru, sources told Reuters, hitting MMG Ltd’s (1208.HK) Las Bambas copper mine and Southern Copper Corp’s (SCCO.N) planned Los Chancas project, amid escalating local protests.

Peru, the world’s No. 2 copper producer, is suffering increasingly violent community protests against mines in recent months, as communities demand higher benefits from the industry and prices for the red metal remain high.

The situation is especially challenging for MMG and Southern Copper. Las Bambas is one of the world’s largest copper mines, and operations have been halted since April 20 due to a protest by the indigenous Huancuire community that has settled inside company property.

Southern Copper suspended operations earlier this year for over 50 days at its Cuajone mine, as neighboring residents demanded a share of company profits, shutting the mine’s water supply in protest.

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