Peru Approves Buenaventura's $3.4 Billion Trapiche Copper Project Environmental Study
Peru's environmental certification office, SENACE, has approved Buenaventura's environmental study for the $3.4 billion Trapiche copper project. This approval is a significant milestone, but additional permits are required before mining operations can commence. Buenaventura expects the project to be a key asset post-2030, enhancing its portfolio alongside its Cerro Verde mine stake.
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Peru has granted approval for Buenaventura's environmental study for the Trapiche copper project, involving a $3.4 billion investment. The certification from SENACE ensures sustainability standards in the Apurimac region, although mining operations cannot begin until further permits, such as a construction license, are obtained.
Buenaventura anticipates the project will be crucial for its operations after 2030. The company reported revenue of $730.63 million and a 3-year growth rate of 20.9%, alongside strong profitability metrics, but faces risks from commodity price volatility and regulatory challenges.
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