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1/11/18

Peru declares state of emergency in the South region "copper corridor"

As per the announcement in the official government gazette El Peruano this morning, the near-500km road and train transport zone in the South of Peru that connects Apurimac, Cusco and Arequipa has been declared under a state of emergency. This is extra powers to the police force (and potentially army) to quell any protests against copper companies in the zone, particularly road blocks by locals protesting against the amount and frequency of heavy trucks trundling past their doors 24/7 and kicking up inordinate amounts of dust. The main mine in this zone is MMG's Las Bambas, which has been rubbing locals up the wrong way since it started operations. Also in the zone are Antapaccay, Constancia and other smaller outfits.

This move comes at the same time as Reuters reports the government is considering a U$2.4Bn investment for a rail track that would connect the copper producing zone around La Bambas to the coast. A good idea in theory, but it's just the type of pie-in-sky BS you get from Peruvian executives with no idea how to solve a problem. Even if it happens, you can bet on multiple years of studies and delays and whatever.