One of the most questioned mining projects, Tía María, was once again supported and backed by the Government. President Dina Boluarte stated during her address to the nation on July 28 that “the mining project is a reality” and that “the Government is convinced of the benefits of Tía María.” At the beginning of the month, Grupo México, Southern’s parent company, announced the restart of its operations.
Since April, the Ministry of Economy and Finance, as well as the Ministry of Energy and Mines, have already raised the flag of this project.despite not having a social license and having fatalities and injuries in 2011.
Deaf ears
However, neither the blood shed in the past nor the new demonstrations in the Tambo Valley due to the lack of consensus regarding the social license and therefore the latent tensions throughout Arequipa, Dina Boluarte reconfirmed that there would be no turning back on this decision.
“The Government is convinced of the benefits of Tía María. It is not an imposed project, that is a false narrative promoted by small ideological sectors that refuse to admit that mining is the activity that strengthens the economic growth of our country, which will contribute S/400 million annually to the Arequipa region, in the form of royalties and fees,” said the President of the Republic.
Along these lines, he emphasized that Tía María would allow the creation of 9,000 jobs during the construction phase and 4,800 permanent jobs. Likewise, It is estimated that the approximate investment of US$1.4 billion would generate 120,000 MT/year of refined copper.
“The project is of vital importance for the relaunch of mining investment in Peru and for the consolidation of the investment climate in general,” said Boluarte.
Demonstrations. Escalation of tensions is expected throughout Arequipa, according to leaders. Composition: Fabrizio Oviedo/LR
According to forecasts by Julio Velarde, president of the Central Reserve Bank of Peru, the Tía María mining project will have an impact on growth that will begin to be noticed from 2025 and 2026. For this year, the economic GDP projection is 3.1%. The banker has also highlighted the benefits of the project, which, in his opinion, constitute good news for the local economy.
Following the announcement by Tía María, the Government expects the start of construction of five mining projects: Quellaveco Expansion, Corani, Raura Replacement, Chalcobamba Phase I, and Romina; in the regions of Apurímac, Ancash, Huánuco, Lima, Cajamarca and Puno, respectively, with a combined investment of more than US$2,025 million.
Source: Larepublica
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