Peru Mining
Southern Copper Corporation (SCC) is poised to make substantial investments in Peru’s mining sector, with plans to inject approximately $10 billion into a new refinery in the Moquegua region. This ambitious project follows the reactivation of the TÃa MarÃa copper project in Arequipa, a $1.4 billion venture expected to yield 120,000 tons of copper annually. These investments are part of SCC’s broader strategy to significantly boost its copper output, aiming to increase production from 987,000 tons in 2019 to an impressive 1.81 million tons by 2026.
To achieve this substantial growth, SCC has outlined several key projects in Peru. These include the $2.5 billion Michiquillay project, projected to produce 225,000 tons of copper per year for over 25 years, and the Los Chancas open-pit mine, which will combine concentrator and SX-EW processes (solvent extraction and electrowinning), to produce 130,000 tons of copper and 7,500 tons of molybdenum annually. Additionally, SCC has announced a capital investment program exceeding $15 billion this decade, encompassing projects in both Peru and Mexico. This aggressive expansion aligns with Peru’s broader mining sector growth and presents significant opportunities for companies specializing in mining equipment, technology, and services to participate in the country’s burgeoning mining industry.
Please contact the U.S. Commercial Service in Lima, Peru for further information.