Mining Company Southern Peru Copper Corporation (SPCC) announced today it will continue undertaking efforts, in order to move the Tia Maria mining project forward.
The mining project is located in the Cocachacra district belonging to the Islay Province (Peru’s Southern Arequipa region). It is worth US$1.4 billion.
In a press release, the company stressed out the aformentioned project to be "relevant" and "very beneficial" for the "enterprise, its workers and the zone residents," as well as for the "Arequipa region and the country."
"Concretizing the aforementioned project represents recovering the trust of the mining investment community," it pointed out.
It urged community members to engage in "constructive" dialogue.
The release also added the remarks by an enterprise official does not "collect the company’s will.”
Earlier on Friday, a company spokesperson Julio Morriberon announced the project had been "shut down."
Hours later, Peru's Energy and Mines Minister Rosa Maria Ortiz affirmed the enterprise had ruled out that position. Instead, she affirmed the project was "still underway."
Southern Peru Copper Corporation is one of the largest copper producers in the country having one of the industry's largest reserves.
Mining, as well as the infrastructure sector, are expected to contribute the most to Peru's GDP during the current year. It is expected to reach an expansion of 4.2%, according to official projections.
(END) ESV/JJN/MVB
Published: 3/27/2015