Sociedad Minera Cerro Verde acquires state land in Arequipa

The National Superintendency of State Assets (SBN) has signed two purchase agreements with Sociedad Minera Cerro Verde S.A.A. to facilitate the ‘Cerro Verde Production Unit Expansion’ project in Arequipa.

The adjudication involves two state-owned plots totaling 442 hectares. One site, exceeding 435 hectares, is located in the Yarabamba district, while the second, measuring approximately 7.4 hectares, is in Tiabaya. The sale of these lands was valued at over $10 million.

Cerro Verde has until 2050 to execute the expansion project. If the company fails to meet this commitment, ownership of the lands will automatically revert to the Peruvian state without the obligation to refund the payments made.