Southern Copper said it has withdrawn plans to build a $1.4bn worth Tia Maria copper mine in Arequipa, Peru in response to protests and lack of government support.
The Wall Street Journal reported Southern Copper institutional relations director Julio Morriberon as saying to RPP radio: "Our company isn’t ready to be a victim of these violent persons even more so when the government doesn’t give us the guarantees and the needed backing."
Protestors were concerned of the proposed project’s impact on water supplies, among others.
To secure approval, Southern Copper made some changes in the project and its environmental impact assessment was given green light in August 2014.
The company earlier said it would produce 120,000 tons of copper cathodes a year over an estimated 20 year lifetime.
Majority controlled by Grupo México, Southern Copper owns mines, smelting and refining facilities in Mexico and Peru.