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Mining/Energy | 29 October, 2009 [ 11:50 ]

Southern Peru plans to raise output by 70 percent by 2012


LivinginPeru.com
Isabel Guerra

Southern Copper Corp. could “easily” double its annual output to more than 1 million metric tons, according to Chief Executive Officer Oscar Gonzalez Rocha.

Southern, which expects to produce 500,000 metric tons this year, plans to raise output 70% at its Peruvian mines by 2012, Gonzalez said, adding that “We can easily reach more than 1 million tons of production from mines in Mexico, Peru and the US.”

Southern expects Peru’s government will approve studies for its $934 million Tinga Maria copper mine before the end of the year, allowing construction to begin in the first quarter of 2010.

Southern also plans to add 100,000 metric tons of annual production at its Toquepala mine by 2012, as part of $2.1 billion of investments in Peru.

(Condensed from Bloomberg)

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