Zijin unit says Peru mine project might be delayed

LIMA, Jan 12 (Reuters) - A unit of China's Zijin said on Monday it is reevaluating the timetable for developing its Rio Blanco copper project in Peru after tumbling prices and protests.

Monterrico Metals (MNA.L), which is controlled by China's second-largest gold miner, Zijin Mining Group Co Ltd (2899.HK), previously said it would start production in 2011.

But like many global miners, hit by the collapse in commodity prices and a tough financing environment, it is reevaluating its plans.

"Essentially that's under review and a revised chronogram for investment and development will be published in due course -- fairly shortly. I suggest this quarter," said Andrew Bristow, investor relations manager at Monterrico.

The $1.4 billion copper-molybdenum project, which is located in the northern district of Piura, is expected to produce some 200,000 tonnes of copper concentrate a year.

Many community members near Rio Blanco oppose the project. They worry the mine will wreck the environment and damage agricultural lands.

In a 2007 popular vote, nearby communities overwhelmingly said they did not want Rio Blanco developed. (Reporting by Dana Ford; Editing by Marguerita Choy)