Industry Segment: Market Brief | Word Count: 81 Words

Southern Copper Corporation, a subsidiary of Grupo Mexico SAB, has received approval to begin construction of the Tia Maria Copper Project by the government of Peru. The $1.4 billion project, which has been in the works since 2007, has been delayed by an extensive environmental permitting process and local opposition. Southern Copper is developing more than $8 billion worth of projects in Latin America. The company has agreed not to commence construction until it gets approval from local communities.