SCC Approves $2.1bn Peru Projects (1)

Southern Copper Corporation has approved a new investment program in Peru to replace a plan that had been agreed for Mexico. The $2.108bn plan covers the development in Peru of the Tia Maria SX/EW copper project, the Toquepala concentrator expansion, the Cuajone concentrator expansion, the Ilo smelter expansion and the Ilo copper refinery expansion. “This investment would permit the company to increase its copper production by 270,000 tons per year by 2011, which represents 39% of the current production level,” says the firm.