Buenaventura halts Julcani operations due to protests

Peruvian miner Buenaventura suspended operations at its Julcani silver deposit due to social protests.

In a statement, Buenaventura said protesters from communities outside Julcani's area of influence entered the camp illegally on Sunday and forced the workers to sign a document whose content is not approved by the company.

Workers were also forced to leave the premises, as belonging were stolen and offices and vehicles damaged.

"Julcani has started the demobilization of all personnel and has suspended its operations until security conditions are adequate. This situation limits the company to carrying out essential activities within the operation, which puts the environmental safety in the area at risk," the statement said.

In December, Buenaventura suspended operations at Julcani and its Orcopampa gold mine, when protests against President Dina Boluarte began.

Buenaventura estimates Julcani's 2022 output at 2.4Moz-2.7Moz silver and Orcopampa's at 70,000oz-75,000oz gold.

If the blockades and protests persist, 2023 projections will be adjusted downwards.