Minsur has temporarily suspended operations after continued protests around their San Rafael mine rock the region.
The deadly protests come as supporters of the recently ousted president, Pedro Castillo, and security forces clashed in the south-eastern regions of Peru. The San Rafael mine is located in the region of Puno that has seen some of the worst violence. A mid-December state of emergency in the area was extended for a month on January 15th.
Minsur, the world’s third largest tin producer, decided to temporarily suspend mining operations at its San Rafael tin mine on Thursday 12th January. Although the mine was not directly impacted by protests, the decision was made in solidarity with the victims.
Since then, the company stated that they stopped operations of the whole unit, including the concentrates plant. Concerns for the safety of staff were highlighted, with transportation of minerals and resources currently not feasible due to road blockages.
The company hopes their output will be affected as little as possible, although a date to restart operations is still unclear.
Our View: This is an ongoing, dynamic situation which we are monitoring closely. Protests were recently reported to be moving towards the capital Lima.