Particle.news

Download on the App Store

Perumin 37 Tightens Integrity Controls and Pushes Unified Mining Standard as Minsur Commits $500 Million to Mina Justa

The next draft of the consolidated standard will be released on October 8 for a 40-day global consultation.

Overview

  • Event organizers implemented an Achilles-led corporate due‑diligence process with the IIMP to screen participants and curb risks including money laundering, corruption, illegal mining and sanctions violations.
  • International leaders from ICMM, the Mining Association of Canada, The Copper Mark and BHP outlined a consolidated mining standard designed to reduce overlapping frameworks and strengthen credibility.
  • The proposed standard’s governance would feature a 17‑member multi‑stakeholder board with an independent chair, and audits would be independent with community consultation.
  • The Copper Mark was highlighted as a precursor covering 119 operating units worldwide—about 40% of global copper output—including Peruvian sites such as Cerro Verde, Coajone, Toquepala, Condestable, Fundición de Ilo and Mina Justa.
  • Minsur said it will start blasting in mid‑October on an access tunnel for a new underground phase at Mina Justa, investing at least US$500 million, targeting 2027 production and positioning it as Peru’s second‑largest underground mine.