Southern Copper in Talks with Mexican Government for Investments Worth US$10.2 Billion

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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Southern Copper Corporation (Phoenix, Arizona) has initiated discussions to secure the necessary licenses for projects in Mexico, including the El Arco and El Pilar copper mines.

Southern Copper is currently in discussions with the Mexican government of Claudia Sheinbaum to obtain permits for the development of assets worth investment of US$10.2 billion. According to the company, the discussions on its mines were halted during the previous government.

At the same time, Minera Mexico, Southern Copper's subsidiary, will invest US$600 million in its underground and open-pit mines in Mexico this year, with plans to modernize the assets and guarantee the long-term sustainability of operations in the mines.

Minera Mexico owns the Caridad and Buenavista copper mines, which last year had an output of 117,000 tons and 433,000 tons, respectively. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant Database can click here for profiles on the mines.

In addition to these operational mines, the company is also seeking to develop the El Arco and El Pilar projects.

El Arco, which is located in Baja California, contains sulfide reserves of over 1.23 billion tons of ore at an average ore grade of 0.40%. The project includes an open-pit mine with a combined 120,000-ton-per-day concentrator and a solvent extraction and electrowinning (SX-EW) plant of 28,000 tons per year.

Production could begin by 2030 with an output target of 190,000 tons of copper and 105,000 ounces of gold.

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The El Pilar copper mine is expected to have an output of 36,000 tons of copper cathodes per year starting in 2028. El Pilar is located in Sonora, only 45 minutes away from the Buenavista mine.

The asset contains estimates of proven and probable reserves of 317 million tons of ore with a copper grade of 0.249%.

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Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.

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