State of Emergency in Peru – 4 dead in Protests at „Las Bambas“ Coppermine

A state of emergency has been declared in the Apurimac region of Peru, after escalating tensions at the Copper mine „Las bambas“. These tensions culminated on the 29 September in thousands of protestors gathering at the mine, this turned into voilent clashes with the police. This conflict left 16 people injured, including 8 police officers and 4 dead.   ... →

Peru: Glencore sells Las Bambas Copper Mine to Chinese Consortium.

After months of negotiations, the sale of Glencore’s Peruvian copper mine Las Bamba to the Chinese state owned company China Minmetals Corp, or specifically its subsidiary MMG, has been completed (April 2014). At $5.85 billion it is one of the largest Chinese investments in the commodities sector.

The Chinese investors are planning an increase in the production of copper with Las Bamba and Toromocho mines producing 400,000 tonnes of copper per year in the next five years, starting mid 2015.(1) With this takeover, China now controls 33% of the investments in Peruvian copper production companies (3).   ... →