SMM7, 24 March: southern Copper (Southern Copper) yesterday announced its results for the second quarter of this year, with copper production of 256352 metal tons in the second quarter, an increase of 16.5 per cent over the same period last year.
But second-quarter net profit fell 1.8% from a year earlier to $402.4 million.
This month Southern Copper was approved to build the $1.4 billion Tia Maria copper project, which is expected to help Southern Copper become one of the world's top three metal miners.
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.
But opponents of the project say there will be an indefinite strike until the permit is revoked. Protests broke out on 15 July. "related news-local protests at the Tia Maria copper mine in Peru blocked roads
Opponents say the project will disrupt local agricultural production and pollute water, although Southern Copper (Southern Copper) has plans to build a desalination plant.
Southern Copper also said that if it could not reach an agreement with the local community, it would not begin construction of the mine.
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