Overview

• The Ministry of Energy and Mines issued Resolution 0692-2025-MINEM/DGM authorizing exploitation at Tía María, instructing compliance with safety and environmental commitments and notifying OSINERGMIN, OEFA, Sunafil, Senace and Sucamec.
• The decision notes Minem’s finding that no prior consultation applies because there are no indigenous peoples in the project’s direct area of influence.
• Southern Perú plans to deploy about US$1.1 billion between late 2025 and 2026 within a total budget near US$1.8 billion, targeting commissioning and initial production ramp-up in the second half of 2027 to 120,000 tpa.
• Site works already show progress, including roughly 90% completion of roads and access and 59 km of perimeter fencing, with camp setup and earthworks next; the plant will use ESDE solvent extraction and electrowinning technology.
• Company projections cite 3,500 construction jobs and, once operating, 764 direct and 5,900 indirect positions, along with an estimated US$18.2 billion in exports and US$3.8 billion in taxes and royalties over the first 20 years, while local leaders in the Tambo Valley say they will pursue protests and legal challenges.