Protestors at Las Bambas copper mine end road blockages; production to resume soon. |
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The Peru-based Las Bambas mine had been plagued with road blockades by protestors since mid-November. These protestors were local residents seeking compensation for the mine’s usage. Due to the ongoing protesting and road blockages, the mine had been shut since December 18. Reuters stated it would take up to six days to restart operations. According to the company, in 2021, the mine will produce 290,000 mt, which is down from 311,020 mt produced in 2020. Reuters recently stated the mine can produce 400,000 mt of copper concentrate per year, which is approximately 2% of world production. Please note that LME will be closed on Monday, January 3. We will not produce a First Look that morning. (12/31/2021) |
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12/22/2021: AEGIS Factor Matrices: Most important variables affecting metals prices 12/13/2021: Section 232 Tariffs: Most relevant developments (AEGIS Reference) 11/30/2021: Will the Omicron COVID Variant Impact South African Metals Production or Exports? |
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Important Headlines & Economic Data |
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AISI Steel Capability Utilization Rate Investing.com Economic Calendar 12/30/2021: MMG's Las Bambas mine to restart copper output after Peru deal 12/30/2021: Peru community agrees to lift blockade that disrupted Las Bambas mining -RPP Radio 12/30/2021: Further curtailment of production at Slovalco 12/29/2021: Peru government still far from deal on MMG’s Las Bambas mine restart 12/29/2021: Alcoa to curb aluminum output in Spain after energy costs soar 12/28/2021: Romania’s Alro to cut primary aluminum production due to high energy prices 12/27/2021: China's 2021 primary aluminum output seen below early estimates: Antaike 12/26/2021: World economy now set to surpass $100 trillion in 2022 |
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