Southern Copper, a subsidiary of Grupo Mexico, is set to recommence the development of the Tia Maria copper mine in Peru, reported Reuters, citing an internal document.
The project, which has faced significant delays due to environmental concerns and community opposition, is expected to produce 120,000 tonnes (t) of copper annually.
Go deeper with GlobalData
The internal memo from Grupo Mexico and Southern Copper informed employees that development activities would begin on 1 July 2024.
Located in the Islay province of the Arequipa region, the Tia Maria mine had its licence approved by Peru’s previous administration in 2019, triggering large protests.
The project’s construction has faced numerous protests since it was first announced in 2010.
In May 2024, Reuters reported that Southern Copper is set to break ground at the $1.4bn mine by the end of the year or in early 2025.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSouthern Copper finance vice-president Raul Jacob was cited by the news agency as saying: “We are fine-tuning details to be able to begin construction towards the end of this year or in the first part of next year.
“There are no pending licences, we have all the authorisations and we have not stopped working with the communities.”
The resumption of the Tia Maria project is expected to contribute to Peru’s efforts to boost its copper output.
Earlier, Jacob said that the company anticipates copper production will increase in Peru by 20% this year from 374,149t last year.
