LIMA, July 1 (Reuters) - Miner Southern Copper
will likely finish building its Tia Maria copper project in
southern Peru in up to two years and then begin production in
2027 if not sooner, Chief Executive Officer Oscar Gonzalez told
local radio broadcaster RPP.
Reuters reported on Sunday, citing an internal document,
that the long-postponed $1.4 billion project located in the
Arequipa region's Islay province was set to restart development
on Monday, after years on hold amid community opposition over
fears about the mine's environmental impact.
Protests opposed to the mine left six people dead between
2011 and 2015.
Tia Maria is eventually expected to produce 120,000 metric
tons of copper annually.
In the radio interview, Gonzalez said that though the mine
was slated to begin production in 2027 "we will try to make it a
little earlier."
Shares in Southern Southern Copper, controlled by Grupo
Mexico, rose over 1% following the announcement
while the parent company saw its stock jump nearly 3%.
Gonzalez noted that community opposition had diminished in
recent years and that the miner was working on a water dam study
that would benefit farmers in the Tambo Valley area. He did not
give a set date for its completion.
"We don't believe there will be any problem," he added,
saying the dam will be able to store some 70 million cubic
meters of water.