Change time

"Southern Copper" project will develop

According to the Government of Peru signed an agreement regarding the «Southern Copper» mining company. Investments are expected to be an extension of the copper quarry will amount to about 1.2 billion. USD / According to preliminary estimates, the project will increase annual copper production in Peru to 100 thousand tons. The project involves the construction of new facilities and the introduction of the new hub. volume reservist mine also increase. Construction work should be completed within 2 years. The very same company leads to the production and processing of copper, zinc, molybdenum, lead and silver.

Ministry of Energy and Mines, this report has been reviewed and approved. As a result, the ministry gave the company the opportunity to expand and maintain the building processes at the mine. Also, «Southern Copper» has received an environmental permit from the government to conduct the work at the mine, «Tia Maria» in August this year.

Control of the «copper-South» carried by the leading Mexican mining company «Grupo Mexico». This manufacturer is also the third in the list of leaders of the red metal smelting. The company's main activities are concentrated in the north of Mexico and south Peru. To date, 75.1% «Southern Copper» owned Mexican mining company. According to the «Grupo Mexico» overall copper production will be about 658,000 tons. The company intends to increase copper output to 75 000 tonnes next year.

The November forecasts of analysts predicted a decline in the cost of copper over 18−24 months. Prices can only be restored by 2019, together with the demand for the red metal supply. According to statistics, the price of copper has not yet fallen to a critical level, although in the near future will continue to drop down trend. metal cost in the next year on the London Stock Exchange will be about 6750 USD / ton. By 2016, the price reached the level of 6300−6400 USD / ton. The decline in Chinese demand drags along the cost of the metal. Funding also aims down, dragging the construction industry. Its growth will decline over the first half. Volumes of supplies of the copper mine to increase by 5.7% over 2015. By 2017, supply growth will decrease, given the depletion of some deposits at that time.

See all news