HomeEconomyCusco is losing more...

Cusco is losing more than SGD 2.5 million due to the suspension of production at the Antapakkai mine.

The mine provides 70% of the municipal budget of the province of Espinar. | Font: Andean

code: ‘Rpp_economia_economia_Nota_Interna1’,
mediaTypes: {
banner: {
sizes: (navigator.userAgent.match(/iPhone|android|iPod/i)) ? [[300, 250], [320, 460], [320, 480], [320, 50], [300, 100], [320, 100]] : [[300, 250], [320, 460], [320, 480], [320, 50], [300, 100], [320, 100], [635, 90]]
bids: [{
bidder: ‘appnexus’,
params: {
placementId: ‘14149971’
bidder: ‘rubicon’,
params: {
accountId: ‘19264’,
siteId: ‘314342’,
zoneId: ‘1604128’
bidder: ‘amx’,
params: {
tagId: ‘MTUybWVkaWEuY29t’
bidder: ‘oftmedia’,
params: {
placementId: navigator.userAgent.match(/iPhone|android|iPod/i) ? ‘22617692’: ‘22617693’

Mining company Antapaccay announced a temporary suspension of operations on January 21 following reports of attacks on its facilities, but how important is the mine to the economy?

According to the company, for each day of downtime, the region Cusco this would have been a loss of over S$2.5 million in canons and royalties.

Only in the province of Espinar, where the company operates, SGD 540,000 per day is not going to the municipal budget due to this suspension.

In addition, the mine warns that it will affect employment due to Positions which they generate directly and with suppliers.

“It is estimated that S$640,000 is not coming from local service contracts and there is limited scope for further job creation in the province. There are 1,946 workers in Antapakkai State and 2,164 contractors are currently paralyzed,” the statement said.

In total, taking into account direct and indirect employment, it is estimated that about 20,000 people in the province are cutting their incomes due to involuntary employment created by the company.

“Several local companies are running out of liquidity to take on financial expenses such as loans or payroll,” they add.

It is worth noting that this mining company generates 8% copper which is exported by Peru, the second largest producer of this metal in the world.

Source: RPP

- A word from our sponsors -

Most Popular


Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

Russia really wants a big revenge, I’m sure in our army.

On January 30, President Volodymyr Zelensky visited Mykolaiv and Odesa together with Danish Prime Minister Frederiksen and spoke about the fighting in the Donbass and preparations for the Ukrainian counteroffensive. According to him, all communication about the provision of...

5 details that may have gone unnoticed

Discover what certain moments mean for the history and future of the 'Jumanji' franchise“Jumanji: Welcome to the Jungle” hit Brazilian theaters in January 2018 featuring the narrative of four teenagers, who, excited to play the game that is located in a tropical forest, end up being transported...

Nicholas Morey. “As a child I used to sing in front of the mirror and I loved Vanessa Paradis and Elsa”

The actor and director releases his first album, Limoges porcelain. And reveals to us all that feeds one of his most beautiful titles, the first fruitsan ode to the magic of first times.It made a record like a splash, with the audacity of lovers, whatever it...

Know the main causes and treatments

This type of symptom should not be normalized and needs to be evaluated by a doctorA sexual relationship suggests moments of affection, delivery and dedication to the other person. However, what is meant to be a pleasurable moment can become a period of discomfort and deep...

“The truth must come out.” This lunar photo was released by Ghislaine Maxwell’s relatives to exonerate Prince Andrew.

By Lea MabillonInstalled 53 minutes ago, Refresh right nowA photo published by relatives of the Maxwell clan since January 27 seeks to prove the...

Lisa Loring, the series’ first Wendy, dies at 64

Lisa Loring played the character Wandinha Addams during the original series of 'The Addams Family'Last Saturday, the 28th, the actress who played the character Wandinha Addams between 1964 and 1966 in the sitcom 'The Addams Family', Lisa Loring, died at the age of 64 due to complications...