Southern Copper, one of Peru’s largest copper producers, said on Tuesday that its $1.8 billion Tia Maria mine project is 23% complete, and maintained its 2027 target start date for production.
The project is expected to produce 120,000 metric tonnes of copper cathodes per year, the company said in its third-quarter results report.
Southern Copper is also working on other mainly copper projects in Peru at exploration or basic engineering stages, with planned investments exceeding $10.3 billion over the next decade, including the Los Chancas and Michiquillay copper projects.
“With the support and assistance of the Peruvian authorities, the company is moving forward to secure the required administrative permits and licenses prior to investment,” Southern Copper said.
Southern Copper, which is controlled by Grupo Mexico, operates the Toquepala and Cuajone copper mines and the Ilo refinery in southern Peru. In Mexico, it operates the Caridad and Buenaventura mines and is developing the El Arco and Pilar copper projects.
(By Marco Aquino; Editing by Brendan O’Boyle and Edmund Klamann)
