Make investments to expand production capacity
The next three years, the mining company Southern Copper Corporation said it plans to invest 1.800 billion in Peru, which form part of its aggressive plan that includes a total of 2.800 million. “The company is strongly committed to continue its organic growth, therefore, the Board approved an investment program of $ 2.800 million to develop new production capacity,” he said.
According to the strategy, investment is expected to increase annual production by 342 000 tonnes of copper and 6,600 tonnes of molybdenum, thereby improving cost competitiveness and efficiency of the company. According to his report to the first quarter of 2010, this project aims to deliver total 1.800 million to 1.000 million for Peru and Mexico.
“In this context, only in 2010 would go to Peru 600 million dollars, while Mexico 200 million,” he said.
Regarding the Tia Maria project, the company said that in the first three months of the year has spent 25.3 million dollars from the budget approved by 934 million.
“The detailed engineering is underway and almost finished now resume construction as soon as you receive approval from the Environmental Impact Assessment (EIA), which is expected to close in the third quarter,” he said.
Also, reported March 31 that it has spent 97.6 million dollars in the expansion of the concentrator Toquepala (Tacna).
Reported that although the detailed engineering was awarded and work began in December 2009, is expected to be completed EIA underway in the second quarter of 2010.
[...] Latest Mining News Presenting The Latest Mining News and Exploration Reviews « Make investments to expand production capacity [...]