Local business helping hand during pandemic

Written by MMG Limited     April 23 2021 at 3:31 PM

Las Bambas proudly plays a key role in growing and supporting local business development through its ongoing mine operation. Energy, logistics and mobile plant assets are just a few of the services the mine depends on. It’s a mutually beneficial arrangement between the mine site and regional businesses that delivers a critical economic boost to the region and country overall. During the past three years, expenditure with local suppliers (mostly small and medium-sized enterprises in Cotabambas and Grau provinces) exceeded US$110 million. In the 2020 year, purchases from Peru-based suppliers exceeded US$1,332 million.

To ensure a business-as-usual arrangement that sustained suppliers’ businesses during the spread of the Coronavirus in 2020, Las Bambas implemented health measures and strategies in the latter half of the year that resulted in:

  • 660 local companies complying with biosecurity protocols
  • 22 local staff transport companies receiving technical assistance to mitigate the effects of the financial crisis brought on by the COVID-19 pandemic.  
  • The Challhuahuacho Business Development Center devising a physical distancing solution that saw it convening a ‘virtual’ business seminar attended by 76 local companies together with plans for early 2021 training courses covering human resources, markets and crafts.
  • Six local companies receiving assistance to continue their occupational Health and Safety Plans for specific projects.

Other 2020 local company initiatives resulted in:

  • A 12% increase in local contract purchases compared with the 2019 year.
  • 76 local companies working directly with Las Bambas and another 297 subcontractors.
  • 660 local companies being trained in bio-security protocols.
  • 373 local companies purchasing goods and services directly or indirectly.
  • 22 local transport companies were better equipped to withstand the economic crisis after receiving specialist training in the fields of human resources, finance and markets

Las Bambas remains committed to local businesses and developing the local economy, and will continue to implement opportunities in close coordination with local and regional stakeholders.