Heavy rain in Peru could affect copper production

At the Cerro Verde mine in southern Peru, copper mining may be temporarily halted as the region has been hit by heavy rainfall, according to Freeport-McMoRan.

Cerro Verde produced 498,951 tonnes of copper in 2016, more than double its 2015 production. Freeport owns 53.56% of the shares in Cerro Verde. Sumitomo Metal Mining Company Ltd controls a 21% stake and Buenaventura has a 19.58% stake.