MMG Shuts Down Production At Las Bambas Copper Mine

Minerals and Metals Group (MMG) has stopped copper production at Las Bambas on December 18. After months of road blockades preventing essential commodities all along 200 kilometers from reaching the production area, the decision was taken.

MMG's copper mining has estimated reserves of 5.6 million tons and an average annual production of over 350 thousand tons of copper in concentrate. Accounts for 1% of Peruvian GDP, and represents 15% of the country's and 2% of global copper production.

This important block started production under the management of Swedish company XTRATA in 2016. Subsequently, it was sold to a Chinese conglomerate 'MMG' with headquarters in Hong Kong for $5 billion.

Detailed information is scarce because Las Bambas does not list its shares on the stock exchange...

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