AREQUIPA, Peru, Sept 23 (Reuters) - MMG Ltd’s $7.4 billion Las Bambas project in Peru is on track to start commercial production in May or June of 2016 that will ramp up to 400,000 tonnes of copper in 2017, the mine’s management said on Wednesday.
Copper production will likely total about 200,000 tonnes in all of 2016, said Luis Rivera, vice president of operations at Las Bambas.
Construction of the mega mine in Peru’s Apurimac region is almost complete and funding for remaining investments secured, Rivera said.
However, some 16 families in the town of Fuerabamba have not yet moved to a new town built to make way for the mine.
But Rivera said the lingering families do not live in the area of operations and will not interfere with the project’s roll-out.
A copper slump has led the company to trim operating costs but has not hurt the company or cut its spending on social projects in nearby towns, Rivera said.
“Mining investments like Las Bambas are very long-term and so our mission is to get through the different cycles that the price of copper is going to have,” Rivera told reporters while attending a mining conference.
Reporting By Mitra Taj; Editing by Alan Crosby