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Peru Approves $2 billion Expansion of Antamina Mine

Sustainable Growth Promised for Peru's Largest Copper-Zinc Operation

by Ikeoluwa Ogungbangbe
Antamina mine expansion

In a move that spells good news for Peru’s economy and the local communities, the country’s environmental authority has given the green light for a massive $2 billion expansion of the Antamina mine, Peru’s crown jewel in copper and zinc mining. This decision, eagerly anticipated, promises to extend the life of the mine from 2028 all the way to 2036, ensuring more years of productivity and community support.

The expansion plan, a testament to collaboration between some of the mining world’s heavyweights like Glencore, BHP, Teck Resources, and Mitsubishi, is set to bring a wave of positive changes. “This approval not only marks a significant achievement for Antamina but also showcases the potential for growth in Peru’s mining sector,” shared Víctor Gobitz, the enthusiastic CEO of Antamina. “It’s a step forward in our journey, allowing us to strengthen our bond with the authorities and communities we work with.”

The project’s ambitious scope includes enlarging the mine’s footprint by a quarter and digging deeper into the earth by 150 meters to tap into more resources. With plans to haul up to 173,000 tonnes of ore and about 742,000 tonnes of waste every day, the mine is gearing up for a major scale-up in operations. Among the upgrades is a brand-new rock crusher and a significant increase in the dam’s capacity to ensure safety and sustainability.

The timing couldn’t be better, coming hot on the heels of a pivotal meeting between Peru’s mining leaders and the Ministry of Energy and Mines, Oscar Vera. They gathered to discuss speeding up the permitting process through a new digital initiative, poised to make Peru an even more attractive destination for mining investments. As the world’s second-largest copper producer, Peru is keen on cutting red tape and paving the way for smoother operations in its mining sector.

This expansion is more than just numbers and infrastructure; it’s about securing a prosperous future for the communities involved and reinforcing Peru’s standing in the global mining arena. By extending Antamina’s operational life and boosting its production, this project is set to contribute significantly to Peru’s economy, offering sustainable opportunities for generations to come.

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