Southern Copper Lines Up US$8.2 Billion of Peru Projects Through 2033
Southern Copper is investing US$8.2 billion in four Peru projects through 2033, aiming to boost copper output to 1.6 million tonnes. The post Southern Copper Lines Up US$8.2 Billion of Peru Projects Through 2033 appeared first on The Rio Times .
Southern Copper has announced an ambitious $8.2 billion investment plan in Peru's copper industry through 2033, aiming to boost the country's copper output. The plan includes four major projects: Tia Maria, Los Chancas, Michiquillay, and an expansion of the Ilo smelter. Tia Maria, a significant $1.8 billion project, is expected to be operational by 2027 and could produce around 130,000 tonnes of copper annually, adding value through molybdenum mining.
Los Chancas, located in Apurimac, is anticipated to start operations by 2031, with an expected annual output of 130,000 tonnes of copper. Michiquillay, scheduled for 2032, will produce about 225,000 tonnes of copper per year. The Ilo smelter expansion, valued at $1.26 to $1.3 billion, aims to modernize and increase capacity at the existing facility.
This investment plan, which could surpass $10.3 billion in total, reflects Southern Copper's positioning in Peru's mining future, with Grupo Mexico's strong backing (89% ownership through Americas Mining Corporation) supporting the company's ambitious growth strategy.
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