Osisko Metals shares rise on 53% resource boost at Gaspé copper project
A minimum 70,000 meter drill program is now planned for 2025.
Southern Copper, Peru’s third largest copper producer controlled by Grupo Mexico, expects to boost its copper production in Peru by 520,000 metric tons in 8-10 years if it executes its $8.5 billion portfolio of projects, a top executive said on Wednesday.
Raul Jacob, Southern Copper’s chief financial officer, said the Tia Maria project is ready to start construction. He mentioned the Los Chancas and Michiquillay copper projects, which are also expected to help increase production.
Southern Copper operates the Cuajone and Toquepala mines in Peru.
“The company’s expectation is that over the next 8 or 10 years, including an expansion at its Cuajone mine, it will increase Southern Copper’s production in Peru by an additional 520,000 tons,” Jacob said during a mining forum.
(By Marco Aquino and Natalia Siniawski; Editing by Valentine Hilaire)
Read More: Southern Copper eyes start of stalled Peru mine project as soon as this year
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