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Southern Copper Sees 2012 Copper Output Up 9 Pct

Industry News 09:28:04AM Feb 13, 2012 Source:SMM

LIMA Feb 10 (Reuters) - Southern Copper, a major global copper producer, expects its 2012 output to increase nearly 9 percent from the previous year, the company said during a conference call on Friday.

Production of the red metal is seen at 640,000 tonnes in 2012, up from the company's 2011 output of 587,491 tonnes.

"We expect production of 610,000 from our own operations and 30,000 tonnes to be processed from third parties," said Raul Jacobs, chief financial officer for Peruvian operations.

Referring to ore grades at the company's mines in Peru and Mexico, Jacobs said Southern Copper expects "a regular year."


Southern Copper, a unit of Grupo Mexico, announced on Thursday a delayed start date for its $1 billion Tia Maria mine in southern Peru from 2013 to 2015.

The company is starting a new environmental impact study on Tia Maria, which is expected to produce 120,000 tonnes of copper per year but has faced steep opposition from local farmers.

Southern Copper's net income for 2011, reported on Thursday, was an all-time high of $2.34 billion. The company restored full operations at its Buenavista mine in Mexico in 2011 after three years of crippling labor disputes.

 

Southern Copper Sees 2012 Copper Output Up 9 Pct

Industry News 09:28:04AM Feb 13, 2012 Source:SMM

LIMA Feb 10 (Reuters) - Southern Copper, a major global copper producer, expects its 2012 output to increase nearly 9 percent from the previous year, the company said during a conference call on Friday.

Production of the red metal is seen at 640,000 tonnes in 2012, up from the company's 2011 output of 587,491 tonnes.

"We expect production of 610,000 from our own operations and 30,000 tonnes to be processed from third parties," said Raul Jacobs, chief financial officer for Peruvian operations.

Referring to ore grades at the company's mines in Peru and Mexico, Jacobs said Southern Copper expects "a regular year."


Southern Copper, a unit of Grupo Mexico, announced on Thursday a delayed start date for its $1 billion Tia Maria mine in southern Peru from 2013 to 2015.

The company is starting a new environmental impact study on Tia Maria, which is expected to produce 120,000 tonnes of copper per year but has faced steep opposition from local farmers.

Southern Copper's net income for 2011, reported on Thursday, was an all-time high of $2.34 billion. The company restored full operations at its Buenavista mine in Mexico in 2011 after three years of crippling labor disputes.