Southern Copper eyes 2027 Tía María start-up

Southern Copper, part Grupo México and with operations in Peru, will start construction of its US$1.4bn Tía María project in Arequipa region late this year or early 2025, and begin commercial operations in 2027.

Additionally, capex may have to rise due to inflation, while output of 120,000t/y of copper is expected, Southern Perú CFO Raúl Jacob said at the XV International Mining Meeting in Lima on Wednesday.

The property covers two deposits. "First, we are going to develop the La Tapada deposit – 40,000t per year – and then the Tía María deposit – 80,000t per year. The extracted ore will be sent via conveyor belts to the leaching and refining area, and the final product [copper concentrate] will be transported via a rail to Matarani port for export," added Jacob.

Regarding concerns over social conflicts, Jacob said agricultural area of Valle del Tambo – whose residents oppose the project – is 3km from the mine, 11km from the processing plant, and that a mountain range is separating the desert area of the mine from the agricultural valley.

PERUVIAN POTENTIAL

Jacob also confirmed Southern Copper's medium-term plans for Peru. Overall, five projects worth US$8.5bn are planned for the next 10 years. Once finished, they will account for 520,000t/y of copper, up from 350,000t/y currently.

The schedule is as follows:

Project	Capex	Startup
Tía María	US$1.4bn	2027
Ilo smelter expansion	US$1.3bn	2029
Los Chancas	US$2.6bn	2031
Michiquillay	US$2.5bn	2032
Cuajone expansion	US$700mn	TBD

Source: Southern Copper