LatinNews Daily - 13 June 2018

Peru: Peru’s mining & energy ministry (MEM) and mining firm Southern Copper Corporation, which is owned by Grupo México, have signed a concession agreement for the Michiquillay mining project, which is located in Peru’s northern Cajamarca region. The agreement was signed on 12 June after the company was awarded the contract on 20 February by the government for a transfer sum of US$400m from state-run mining company Activos Mineros in exchange for 3% of royalties. The project, which is due to begin operating in 2025, involves an investment of over US$2.5bn. Southern Perú’s president Óscar González told journalists after the signing ceremony that Michiquillay would have an annual production of 225,000 tonnes (t) of copper.

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