Peru Crisis: Protesters Lift Mining Highway Blockade For Brief Period

Amid crisis in Peru, protesters are said to have temporarily lifted blockades of a vital mining highway in the country's south region.

Sources told Reuters on Wednesday that the "mining corridor" highway has in recent days been unblocked after weeks of protests.

The highway is an important transport route for mines like Glencore Plc's Antapaccay and Las Bambas, which is owned by MMG Ltd of China.

A source close to Las Bambas said that the corridor is clear, and that "some sections are damaged, but it is free."

Protests against the government hit Peru, which is the world's number 2 copper producer, since Dec. 7, 2022. At the time, leftist President Pedro Castillo was ousted. He illegally tried to dissolve Congress and also reorganize the judicial system, according to US News & World Report.

Blockades in the country have affected mines. As a result, shares have been hit. Even the buoying prices of the metal have been affected.

Over the last week, the number of blockades has gone down to around 37 on Wednesday. There were more than a hundred in January. There have bee talks of a "truce" around the recent festive Carnival period, which is an important holiday in the region.

A source close to Antapaccay said that with this truce, they are gradually returning to operations, progressively, but they "don't know what will happen next."

Sources said that community members involved in protests were planning meetings and blockades could be resumed.

The protests are calling for the new President Dina Boluarte's resignation, the closure of Congress, early elections and a new Constitution. So far, 49 died in clashes and 11 lost their lives in accidents linked to the blockades.

WSJ reported last month that the protests have caused approximately $1.3 billion in damage to infrastructure and lost production, Boluarte's administration had shared.

According to a Sunday poll by the Institute of Peruvian Studies, a majority of people in Peru said that the protests have had a huge impact on their economic livelihoods.

About 1.1 million jobs could be lost, as per estimation by the Lima Chamber of Commerce.

Alonso Segura, a former finance minister, said that the outlook is not good, and if this continues, "we might even experience a recession."

As for Boluarte, she has been looking to rally political support amid infighting among lawmakers over plans to bring elections forward to 2023. She has also authorized payments to family members of people killed or injured in the ongoing protests.