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February 17, 2023
LIMA, Feb 16 (Reuters) - Peru's top copper mines are starting to see activity hit harder by protests and blockades in the country's southern Andes, power data reviewed by Reuters shows, with Chinese-owned Las Bambas and Glencore PLC's Antapaccay currently worst affected.
The South American country, the world's no. 2 producer of the red metal, has been roiled by protests since the Dec. 7 ouster of President Pedro Castillo, though mining operations had generally remained resilient until this month.
However, a Reuters analysis of daily power use data from COES, which represents firms in Peru's energy sector, shows that at least two key mines are now regularly only drawing half their normal power as key supplies needed for mining operations run out, suggesting they are in 'care and maintenance' mode.
Those are MMG's (1208.HK) Las Bambas, Peru's third largest copper mine, and Glencore's (GLEN.L) Antapaccay, which have both been hit by blockades on a key mining corridor highway.
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