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Southern Perú parent company rules out starting construction of Tía María in 2024

Southern Perú parent company rules out starting construction of Tía María in 2024

Grupo México SAB, majority shareholder of Southern Cooper Corporation, ruled out starting the construction of the Tía María copper project (Arequipa) at the end of 2024, as the financial vice president of its branch in Peru, Raúl Jacob, had suggested for local media.

Through a letter sent to the Superintendency of the Securities Market (SMV) of Peru, the firm’s stock market representative, Álvaro Burga, explained that the “beginning of said construction will begin at the time considered most appropriate, since it has no certain date”.

In this sense, Burga specified that “the company would consider it very positive if the construction of the Tía María copper project began before the end of this year, 2024”, but that it has not yet been defined.

“Jacob has specified that they have continued the work with the population and with the authorities, that they have all the necessary permits, and that if they decide to start construction, the works would begin quickly, since they have the financial resources for the execution. of the project,” clarifies the Southern Perú parent company.

Jacob’s statements were made within the framework of the XV International Mining Meeting Symposium, organized by the National Society of Mining, Petroleum and Energy (SNMPE). In them, the executive even estimated to have the mine operational by 2027.

In statements for The Republicthe Minister of Energy and Mines, Rómulo Mucho, said during the event that the credentials for Tía María were ready, the only thing missing was for the company itself to make the construction date of the project official before the Peruvian Government.

“Mr. Jacob has also specified that this is a decision to work with the population, and that progress has been made in this regard, so the company hopes to enter a new stage very soon,” the document concludes.

Source: Larepublica

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