Peru Greenlights Buenaventura's $3.4 Billion Trapiche Copper Project

Peru has approved an environmental study for Buenaventura's Trapiche copper project, with an investment of $3.4 billion. The approval by SENACE is a significant milestone, but additional permits are needed before operations can begin. The project is expected to be pivotal for Buenaventura post-2030.

Peru has given the green light to an environmental study for Buenaventura's Trapiche copper project, which is poised to receive a $3.4 billion investment. The Andean nation's state certification office confirmed the approval.

The environmental certification office, SENACE, emphasized that this evaluation of the detailed environmental impact study ensures activities will proceed with high sustainability standards in the Apurimac region. However, SENACE clarified that this approval does not directly permit the commencement of mining operations.

As the third-largest copper producer globally, Peru mandates additional permits, such as a construction license, for extractive activities. Buenaventura anticipates Trapiche becoming a key copper project after 2030, strengthening its portfolio alongside its substantial stake in the Cerro Verde mine.

(With inputs from agencies.)