 |
| First Quantum La Granja Copper Project |
La Granja copper project remains on track, says First Quantum, dismissing outdated ESG claims
First Quantum Minerals has rejected claims that its La Granja copper project in northern Peru faces public opposition, reaffirming the project's active progress. The company addressed recent statements from GEM Mining Consulting, which alleged that community distrust has blocked the initiative. First Quantum strongly refuted the ESG-based report, citing outdated data and strong current stakeholder support.
GEM's report, published earlier this month, claimed the project was stalled due to resistance from local communities. In response, First Quantum emphasized that the study relied on nearly 20-year-old sources that no longer reflect realities on the ground. The company stressed that La Granja complies with modern ESG standards, and that it continues to move forward transparently under strict regulatory oversight.
Community engagement and regulatory compliance drive momentum
La Granja, a joint venture between First Quantum (55%) and Rio Tinto (45%), lies in Peru’s Cajamarca region. Since September 2023, the project has entered a new development phase, focusing on technical, environmental, and social assessments. With an inferred resource of 4.32 billion tonnes at 0.51% copper, it ranks among the largest undeveloped copper assets globally.
Meanwhile, First Quantum pointed to consistent regulatory inspections by Peruvian authorities, none of which have found any violations. The company also highlighted its participatory environmental monitoring system, which involves direct community participation. In contrast to the ESG report, First Quantum stated that most Querocoto residents view the project positively, supported by local employment and regional procurement efforts.
Strategic importance for Peru and future ESG commitments
In addition, First Quantum underscored La Granja’s strategic value to Peru’s mining economy. Local, regional, and national authorities continue to support the project. Part of the company’s $546 million in initial funding is now allocated to an Environmental and Social Impact Assessment (ESIA), targeted for completion within two years.
As a result, First Quantum positions La Granja as a model of sustainable development, where agriculture, livestock, and mining can coexist. The company concluded, “La Granja is not blocked. It is advancing based on dialogue, transparency, and environmental responsibility.”
ScrapInsight Commentary
First Quantum's rebuttal underscores a broader trend: ESG narratives must evolve with real-time stakeholder engagement and data. While legacy concerns shape public perception, projects like La Granja demonstrate how modern mining integrates environmental oversight and community partnership. Investors and policymakers should monitor ESIA milestones, as these will likely influence copper market sentiment and Peru’s extractive policy direction.
