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LatinNews Daily - 11 September 2018

In brief: Peru

Peru: Peru’s President Martín Vizcarra has announced the start of the construction of the US$1.6bn ‘Mina Justa’ copper mine in the southern coastal Ica region. Vizcarra said that the new mine, to be developed by local mining firm Minsur, is slated to come into production in the second half of 2020 and that its construction will add 0.2 percentage points of growth to the domestic economy this year. Energy & Mining Minister Francisco Ísmodes, who accompanied Vizcarra in making the announcement, said that during the construction period the Mina Justa project will provide up to 4,500 jobs, while once the mine is completed it will employ 1,000-1,500 people. The mine is projected to produce 120,000 tonnes (t) of fine copper and 58,000t of copper cathodes per year once it becomes fully operational, adding 0.3 percentage points to GDP growth a year.

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