UPDATE: In Peru, a tale of two mines
March 26th, 2009Things have deteriorated for Doe Run Peru since last week. Bloomberg reports that now 95% of operations at the company’s smelter in La Oroya has stopped, including copper refinement. Luis Castillo, general secretary of Peru’s Mining Federation, said the company may close its entire facilities today if it can’t broker a deal with banks and suppliers. The company does not have the capital to see it through the collapse of metals prices, and banks have cut off its lines of credit since February 24.