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Tía María would help raise annual copper production to 4 million tons, according to Southern

Tía María would help raise annual copper production to 4 million tons, according to Southern

Given the desire of the Government of Dina Boluarte to unblock the Tía María project, Southern Copper plans to begin the construction of the mine located in Islay (Arequipa) at the end of this year or the beginning of 2025, according to Raúl Jacob, CFO of the company of Mexican capitals, who spoke for Bloomberg.

In that line, Jacob told La República that, if it prospers and it is agreed to start operations at Tía María, it could reach 4 million metric tons of copper per year. By 2023, Peru produced 2.7 million MT—and was displaced by Congo from second place worldwide.

In a meeting of the SNMPE, president Dina Boluarte announced that by 2024 they hope to exceed 3 million MT of copper.

“No one is asking for environmental standards to be lowered. That is out of the question,” Jacob said at the XV International Mining Meeting, organized by the SNMPE; In addition, he highlighted the management of Rómulo Mucho in the Ministry of Energy and Mines (Minem) and stated that they hope to continue with his projects.

Minem awaits announcement from Southern for Tía María to start in 2028

Much was made clear to the media that Southern has the construction permits for Tía María and that social pressure in the Tambo Valley has been reduced, and it is now up to the mining company to take action on the matter. “The construction of the project will take (sic) between 2.5 to 3 years. The company is the owner of its word and the project. Minem only facilitates and does not need anything from the Government”he pointed out.

On the other hand, Victor Gobitz, CEO of Antamina, told this newspaper that it is necessary to create local conditions in Arequipa for the installation of Tía Maríasince its unblocking would represent a decisive message for mining investments in the face of “the meager possibilities” that another project like Conga (Cajamarca) has to reactivate in the short term.

Source: Larepublica

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