U.S. Markets closed

Peru OK's environmental plan for Southern Copper's $1.4 bln project

LIMA, Aug 4 (Reuters) - Peru approved an environmental study for Southern Copper Corp's $1.4 billion Tia Maria project, clearing the last major hurdle to construction, Deputy Mines Minister Guillermo Shinno said on Monday.

The company said last week that if the approval came now, construction on the 120,000-tonne-per-year copper mine would start late this year and take about two years.

The company's first environmental plan was rejected during the previous presidential administration, amid violent protests.

Southern Copper is controlled by Grupo Mexico.

(Reporting by Teresa Cespedes; Editing by Dan Grebler)