participated in the opening ceremony of Perumin 35 Mining Convention. There, she highlighted the large influx of participants in the event, which reflects support for the country's economic development.
"We have to realize that we are going through a complex process; worldwide we are leaving a pandemic behind, and there is war-related problem. However, the country's economic development is moving forward slowly," Herrera expressed.
During her speech, the government official said Quellaveco mine (Moquegua region) will start operations next week, after obtaining authorization to operate, once it had complied with the socialization process and approval of the technical instruments required by the corresponding entities.
The Ministry of Energy and Mines issued the authorization for the start of the mine's commercial operation, which upon reaching the maximum level of its production capacity, will contribute an additional 10% to Peru's copper production.
Quellaveco becomes a reality after 30 years and will produce copper concentrates, as well as molybdenum and silver as byproducts. It will have a useful production life of 30 years.
The construction stage of the project generated 15,000 jobs. For the operation stage, 2,500 jobs will be generated.
The estimated investment is US$5.5 billion. It will have an estimated production the first year of 330,000 Copper FMT. Thus, Peru's production will grow approximately 15%.
Quellaveco is one of the largest copper deposits in the world. It is run by the Anglo American company from the United Kingdom, in partnership with Japan's Mitsubishi Corporation.
Background
In mid-2012 a dialogue process ended after 18 months, in which 31 authorities, representatives of institutions and the Moquegua population participated. It served to agree 26 commitments for water management, environment protection, and social responsibility.
The agreements exceed S/1 billion (over US$254.58 million) of contribution from the company to the development of Moquegua region, which will be delivered throughout the different stages of Quellaveco.