{"id":1664740,"date":"2022-09-29T13:55:31","date_gmt":"2022-09-29T17:55:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1664740"},"modified":"2022-09-29T13:55:41","modified_gmt":"2022-09-29T17:55:41","slug":"mmg-to-invest-2-billion-at-its-troubled-peruvian-las-bambas-mine-2","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mmg-to-invest-2-billion-at-its-troubled-peruvian-las-bambas-mine-2\/","title":{"rendered":"MMG to invest $2 billion at its troubled Peruvian Las Bambas mine"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmmg-to-invest-2-billion-at-its-troubled-peruvian-las-bambas-mine-2%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1664740&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> (This September 27 story officially corrects in second paragraph that parent company MMG and not Las Bambas is planning to double production in 2025 and double again in 2030)<\/p>\n<p>By Marcelo Rochabrun and Marco Aquino<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>LIMA (Reuters) \u2013     Chinese miner MMG Ltd expects to invest $2 billion in the next five years to expand its troubled Las Bambas copper mine in Peru and is eyeing potential acquisitions to further increase production, an executive said on Tuesday. <\/p>\n<p>Las Bambas General Manager Edgardo Orderique said at the Perumin mining conference parent company MMG is hoping to double copper production by 2025 and double it again by 2030. <\/p>\n<p>The mine is expected to produce 240,000 tonnes of copper in 2022, after years of production drops due to falling ore grades and social conflicts. <\/p>\n<p>Peru is the world\u2019s No. 2 copper producer and Las Bambas is one of the largest producers of the red metal in the world. <\/p>\n<p>Las Bambas opened in 2016 in the Peruvian Andes, but has suffered recurrent disruptions from indigenous communities who say its vast mineral wealth has not translated into better living conditions. <\/p>\n<p>Those disruptions reached a new peak this year when members of two neighboring communities settled inside Las Bambas, forcing the company to suspend all operations for over 50 days. <\/p>\n<p>\u201cThe cost of the conflict since 2016 to date is of about 528 days of interrupted operations, almost a year and a half that we have gone through this situation,\u201d Orderique said. <\/p>\n<p>Most of the disruptions affected copper trucking, rather than copper mining. <\/p>\n<p>Las Bambas is currently trying to build a second pit but work has been halted due to opposition from the indigenous Huancuire community, which used to own the land where the project is slated to be built.<\/p>\n<p>Orderique said he hoped that the pit can be built in the \u201cfollowing months\u201d to compensate for falling ore grades at its current pit. <\/p>\n<p>MMG has previously said it will not go forward with the project until it can reach an enduring agreement with the Huancuire community. <\/p>\n<p> (Reporting by Marcelo Rochabrun and Marco Aquino; Editing by Richard Pullin and Josie Kao)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/mmg-to-invest-2\/attachment\/file-photo-perus-andean-rural-residents-complain-of-negative-effects\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8Q10Q-BASEIMAGE-1.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8Q10Q-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(This September 27 story officially corrects in second paragraph that parent company MMG and not Las Bambas is planning to double production in 2025 and double again in 2030)<\/p>\n","protected":false},"author":66,"featured_media":1889352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1664740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/mmg-to-invest-2\/?utm_source=rss&utm_medium=rss&utm_campaign=mmg-to-invest-2","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1664740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1664740"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1664740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889352"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1664740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1664740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1664740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}