Peru greenlights $2-billion copper mine project

Peru greenlights $2-billion copper mine expansion

Peru

LIMA, February 16, 2024 – The Peruvian government has approved a USD 2-billion expansion at the Antamina copper-zinc mine, the country’s largest, operator Antamina announced on Thursday.

The open-pit mine – operated by Compañía Minera Antamina with interests held by BHP (33.75%), Glencore (33.75%), Teck Resources (22.5%) and Mitsubishi Corporation (10%) – is located in the Andes, around 270 kilometres north of Lima.

Its 2022 copper-equivalent production of 560,000 tonnes ranked it as the third-largest copper mine globally.

The project’s expansion is designed to extend its productive life from 2028 to 2036. It was greenlit via a Modification of the Environmental Impact Study (MEIA) approval.

The mine’s commercial production began in 2001. Its output is transported via concentrate 300 kilometres to the Peruvian port of Huarmey.