February 10, 2022

The Las Bambas copper mine, which represents 2% of global production and is one of Peru’s largest, will shut down on February 20 due to renewed road blockades, according to owner MMG Ltd. The residents who are blocking roadways into the mine are demanding jobs and other compensation. Production has already slowed, as electricity demand at the mine is down 40% since February 2, according to COES, an organization that represents Peru’s energy sector. Copper prices might be supported if the global supply decreases dramatically due to the shutdown. (2/10/2022)

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