has confirmed that the Michiquillay copper megaproject's construction will begin in 2027.
Luna recalled that the Michiquillay Project —privatized in the 1990s— was initially under the exploration by Anglo American, obtaining positive results.
Nonetheless, the project was in recent years transferred to Southern Peru through an international tender.
"Currently, Southern Peru is confirming the explorations carried out by Anglo American, with apparently very positive results so far," Luna told the Institute of Mining Engineers of Peru (IIMP).
Likewise, the deputy minister underscored the social responsibility efforts being undertaken in the region.
"A social trust (fund) has been established that is generating local development, which is very positive for the project. We hope that the investment can be expedited so as to put it into operation as soon as possible," he added.
When asked about the project's start date, Luna said construction might begin by 2027.
"It is essential to confirm the identified reserves and increase them to ensure greater investment security," he indicated.
Operations
It should be noted that Southern Peru announced an advance in the start date of operations for this project, which was originally expected for 2032.
Company CEO Oscar Gonzalez Rocha stated that it is now expected to start in 2029, three years earlier than initially planned.
The project is located in La Encañada district, Cajamarca province.
Michiquillay was awarded to Southern Peru in June 2018 through a tender by the State-run Private Investment Promotion Agency (ProInversión).
The project features inferred mineral resources of 2.288 billion tons and an estimated copper ore grade of 0.43%, in addition to by-products of molybdenum, gold, and silver.
According to the
Ministry of Energy and Mines,
open-pit mining in Michiquillay is expected to produce approximately 225,000 fine metric tons (FMT) of copper concentrate per year, exceeding the 120,000 annual tons forecasted for the Tia Maria project, which will also begin operations in 2027.