FactoryTh/iStock via Getty Images
Southern Copper (NYSE:SCCO) likely will finish building its Tia Maria copper project in southern Peru within two years and begin production in 2027 and possibly sooner, CEO Oscar Gonzalez said Monday, according to Reuters.
Citing an internal document, Reuters reported over the weekend that the long-postponed $1.4B project was set to restart development after years of delays due to community opposition over fears about the mine’s environmental impact.
Gonzalez reportedly said in a radio interview Monday that community opposition had diminished in recent years, and Southern Copper (SCCO) was working on a water dam study that would benefit farmers in the Tambo Valley area.
The Tia Maria mine is eventually expected to produce 120K tons/year of copper.