Southern Copper Peru Corporation is planning to invest around $8bn in three expansion projects and the construction of a new smelter by 2025.

 

The projects include the Cuajone mine in Moquegua, Los Chancas in Apurímac and Michiquillay in Cajamarca, and the construction of a new smelter in the community of Ilo in Moquegua, Oscar González Rocha, Southern Copper’s chief executive officer announced without disclosing details of each project.

 

This year, Southern Copper, controlled by the Mexico Group, has being developing the expansion of the Cuajone mine to increase the production from 85,000mt per year to 120,000mt.

 

According to Rocha, in 2020 the company plans to develop some initiatives related to the Tía María mining project, which is expected to produce 120,000mt of copper per year. These projects include construction of a road and a railway section.

 

The mining industry is one of the most important economic activities in Peru, representing about 11pc of GDP and 60pc of the country’s exports. Copper and gold are the most important metals exported by value by this South American country.

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