Copper output likely to rise

Reuters

New York

Peru's government said on Monday that copper output in the world's third biggest producer should rise 65.5 percent in 2016 to about 2.5 million tonnes after MMG Ltd's massive Las Bambas project starts operations in February.

Ongoing talks with leaders in communities where protests against Las Bambas turned deadly in September have been positive and have not held up the $7.4 billion project, Energy and Mines Minister Rosa Maria Ortiz said.  The Las Bambas mine, in the highland region Apurimac, should produce between 250,000 and 300,000 tonnes of copper in 2016, Ortiz said.  Peru is expected to produce a growing share of copper supplies in years ahead, but community conflicts in the Andean country threaten to clog its $56 billion mining project pipeline.   Newmont Mining $4.8 billion gold and copper Conga project was derailed by unrest in 2011, and Southern Copper Corp put its $1.4 billion Tia Maria project on hold in May after three protesters died.