Peru expects approval for delayed Southern Copper project

|About: Southern Copper Corporation (SCCO)|By:, SA News Editor

Peru expects to approve a key environmental permit for the development of Southern Copper's (SCCO +1.9%) delayed Tia Maria copper mine project within the next 90 days, a top government official says after meeting with local residents.

Tia Maria was suspended in 2011 after violent protests from opponents worried that it would deplete the water supply for local agriculture, but SCCO has since reworked its environmental study and says the new mine plan addresses local concerns.