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Miner MMG to halt Peru operations this week as community protests hit transport

Australia-based miner MMG Ltd said on Monday it would stop operations at its copper mine at Las Bambas in Peru this week, as community protests in a nearby province has upended transport.

The announcement comes days after a bus in the Peruvian Andes transporting contract workers at the copper mine plunged off a cliff, killing 16 people and injuring two.

The blockade on public roads along Peru's major copper logistics corridor has impacted the company's supply logistics, concentrate shipments and sales, said MMG, which could not be contacted for further details on the nature of the protests.

MMG was pursuing active coordination with the Peruvian government and communities to reach an agreement, it said in a brief statement.

Las Bambas produces about 400,000 tonnes of copper a year, about 2per cent of the total global output.

Hong-Kong listed shares of the company were nearly 8per cent down and on track for their worst day in more than a month.

Meanwhile, the unit of Chinese state-owned enterprise China Minmetals Corp added that production at its site in the region continued.

(Reporting by Indranil Sarkar in Bengaluru; Editing by Rashmi Aich)

Source: Reuters


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