SMM7, October 10-Southern Copper has been approved to build a US $1.4 billion Tia Maria copper project, which is expected to help Southern Copper become one of the three largest metal miners in the world.
The company had previously said that once it obtained a mining license, it would start investing in local hospitals and health systems to benefit local residents. At the same time, the company also said that if it can not reach an agreement with the local community, it will not begin the construction of the mining area.
The project is expected to produce 120000 tons of copper a year.
The Tia Maria copper mine is an important part of Grupo Mexico's plan, and Raul Jacob5, the company's chief financial officer, said last month that South Copper would also invest an additional $10 billion in the plan to increase copper production from 987000 tons this year to 1.81 million tons in 2026.
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