UPDATE 1-Grupo Mexico Ups Outlook for Buenavista Mine Output-Shanghai Metals Market

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UPDATE 1-Grupo Mexico Ups Outlook for Buenavista Mine Output

Industry News 04:11:49PM Dec 07, 2011 Source:SMM

MEXICO CITY Dec 6 (Reuters) - Mexican miner Grupo Mexico (GMEXICOB.MX) expects output at its Buenavista del Cobre copper mine to rise to 475,000 tonnes per year by 2015, Chief Operating Officer Xavier Garcia de Quevedo said on Tuesday.

"The mine has come back in great form," Garcia de Quevedo said at a briefing in Mexico City.

Grupo Mexico said in April it saw production at the Buenavista mine, formerly known as Cananea, increasing to 450,000 tonnes per year. Current output is about 188,000 tonnes per year.

Grupo Mexico runs copper mines in Mexico, Peru and the southwestern United States, and cargo train lines across Mexico.

The Buenavista mine near the U.S.-Mexico border reopened last year after a court order ended a three-year-long strike by the national mining union.

The strike began in July 2007 and cost Grupo Mexico an estimated 530,000 tonnes of production, or $3.5 billion in lost revenue.

Grupo Mexico previously disclosed that expected repairs at the mine would exceed $100 million due to damages incurred during the prolonged labor stoppage.

Buenavista, a massive open pit copper mine in northern Mexico near the U.S. border, is believed to hold enough copper to remain in production for at least 70 years. 

 

Key Words:  copper mine   copper Cu 

UPDATE 1-Grupo Mexico Ups Outlook for Buenavista Mine Output

Industry News 04:11:49PM Dec 07, 2011 Source:SMM

MEXICO CITY Dec 6 (Reuters) - Mexican miner Grupo Mexico (GMEXICOB.MX) expects output at its Buenavista del Cobre copper mine to rise to 475,000 tonnes per year by 2015, Chief Operating Officer Xavier Garcia de Quevedo said on Tuesday.

"The mine has come back in great form," Garcia de Quevedo said at a briefing in Mexico City.

Grupo Mexico said in April it saw production at the Buenavista mine, formerly known as Cananea, increasing to 450,000 tonnes per year. Current output is about 188,000 tonnes per year.

Grupo Mexico runs copper mines in Mexico, Peru and the southwestern United States, and cargo train lines across Mexico.

The Buenavista mine near the U.S.-Mexico border reopened last year after a court order ended a three-year-long strike by the national mining union.

The strike began in July 2007 and cost Grupo Mexico an estimated 530,000 tonnes of production, or $3.5 billion in lost revenue.

Grupo Mexico previously disclosed that expected repairs at the mine would exceed $100 million due to damages incurred during the prolonged labor stoppage.

Buenavista, a massive open pit copper mine in northern Mexico near the U.S. border, is believed to hold enough copper to remain in production for at least 70 years. 

 

Key Words:  copper mine   copper Cu