Copper mining major Freeport-McMoRan has placed the Cerro Verde mine in Peru on care and maintenance after the country's government declared the fight against coronavirus a national emergency.
The Peruvian government has issued a Supreme Decree and declaration of a national emergency in its efforts to contain the outbreak of COVID-19, the miner said in a statement.
"To comply with the government's requirements, Cerro Verde has temporarily transitioned to a care and maintenance status for a 15-day period which commenced March 16, 2020. During this period, onsite personnel will be limited to critical activities necessary to maintain the facilities pending a return to normal operations," the miner said.
Freeport-McMoRan owns 53.56% of Cerro Verde, which operates one of the world's largest concentrating facilities near Arequipa, Peru. In 2019, Cerro Verde produced 1 billion pounds of copper and 29 million pounds of molybdenum.
Freeport said that Cerro Verde will work closely with government authorities to be prepared to restart operations as soon as possible.
Freeport is one of the world's largest publicly traded copper producers.
Source: Platts |
