(Kitco News) - China-controlled mining company MMG reported today that its Las Bambas copper mine in Peru has been able to secure critical supplies that have enabled production to continue at a reduced rate.
"Levels of critical supplies remain low and should the situation remain unchanged, Las Bambas will be forced to commence a period of care and maintenance,” the company said in a statement.
The company noted that transport disruptions continue to affect inbound and outbound logistics along the Southern Road Corridor, adding that Las Bambas has mobilized its site security team and the property remains secure.
On January 30, 2023, MMG announced that following transport disruptions, affecting both inbound and outbound transport, it has been forced to commence a progressive slow-down of its Las Bambas operation due to a shortage of critical supplies.
The transport disruptions follow weeks of nationwide protests in Peru which has caused extensive unrest in the southern region affecting mining operations along the Southern Road Corridor, it said.
Headquartered in Melbourne, Australia, MMG is a mid-tier, global producer of base metals including copper and zinc. The company is listed on the Hong Kong Stock Exchange (HKEx: 1208) and operates and develops copper, zinc and other base metals products across Australia, the Democratic Republic of the Congo and Peru. The major shareholder of the company is China Minmetals.
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