April 8, 2019 / 1:51 AM / 3 months ago

MMG says Peru copper mine to restore operations as blockade ends

HONG KONG, April 8 (Reuters) - MMG Ltd said on Monday its Las Bambas mine in Peru is expected to restore normal mining, production and transport operations after an indigenous village agreed to end a two-month blockade of the company’s copper mine.

The indigenous village agreed to end its road blockade of MMG’s Las Bambas copper mine in exchange for a commitment from the company to pay it for transiting through its farmland, according to a document on Saturday detailing the deal.

The road blockades by the community should be lifted by Monday, the document said.

The agreements are expected to lead to the lifting of the current road blocks restricting transport to and from the Las Bambas site in Peru’s Apurimac, the Hong Kong-listed miner said in a filing to the Hong Kong bourse on Monday.

“The company remains committed to working together with all communities and other stakeholders to seek sustainable outcomes along Peru’s most important copper logistics corridor,” CEO Gao Xiaoyu said in the statement.

The miner said finished stockpiles at site are at about 59,000 tonnes of contained copper in concentrate and it would provide a production update on April 17.

MMG shares in Hong Kong rose more than 3 percent in early trade, outpacing a 0.8 percent gain in the benchmark Hang Seng Index. (Reporting by Donny Kwok; editing by Richard Pullin)

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