One Miner Plans to Spend US$8.2 Billion in Peru. A Mudslide Has Arequipa Cut Off
Peru · MINING Key Facts —The pipeline Southern Copper’s four main Peru projects come to about US$8.2 billion by 2033. Its full roadmap to that year runs to roughly US$9 billion, and it tells the SEC its Peru spending could surpass US$10.3 billion over the decade. —Tía María About US$1.8 billion, 42% complete at 30 […] The post One Miner Plans to Spend US$8.2 Billion in Peru. A Mudslide Has…
Southern Copper Corporation has announced plans to invest around US$8.2 billion in Peru over the next decade at four major mining projects. These projects, Tía María, Los Chancas, Michiquillay, and the Ilo smelter expansion, aim to significantly increase copper production by 2033. The company's full 2033 roadmap, including additional expansions, is expected to surpass US$9 billion.
However, recent heavy rain has caused mudslides along the Panamericana Sur highway, cutting off access to a crucial region since Sunday. Although the closure is not directly impacting the newly invested projects, it highlights the vulnerability of southern Peru's economy to regional single points of failure. The road's closure has already resulted in an estimated S/100 million (US$30 million) in losses for Arequipa's chamber of commerce due to stalled freight, spoiled cargo, and lost trade.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
