Anglo slows construction of copper project in Peru due to Covid-19

JOHANNESBURG – Anglo American said yesterday that it had temporarily slowed the construction of its $5.3 billion (R87.6bn) Quellaveco copper project in Peru due to the coronavirus.

Chief executive Mark Cutifani said that the group had temporarily withdrawn the majority of its employees and contractors from the project after the Peruvian government implemented a 15-day national quarantine to curb the spread of Covid-19.

Cutifani said only critical areas of the project continue as normal until workers could return safely.

“We are in the process of safely demobilising most of the 10000 strong construction workforce at our Quellaveco copper project, in support of the Government of Peru’s measures to control the spread of Covid-19,” said Cutifani, adding that the development of the project had progressed ahead of schedule and within budget. “We would expect to be able to accommodate this slowdown within our market guidance on both timing and costs at this stage,” said Cutifani.

The Quellaveco copper project is expected to begin production in 2022.