Mineweb reported that next year, Southern Copper Corp. (NYSE:SCCO) plans to start work at two delayed copper projects in Peru, with production perhaps starting up as early as 2016.
As quoted in the market news:
In Peru, the company’s $600 million expansion of its Toquepala mine and the construction of its $1 billion Tia Maria project have been repeatedly delayed because of local opposition and slow-coming government permits.
Gonzalez said the central government has indicated a renewed willingness to move the projects forward.
‘We had not seen the kind of support that the government is now talking about. We hope that will help and we will continue our work with locals,’ Gonzalez said on the sidelines of a mining conference.
‘We expect that with both projects, construction can start next year, and they will be ready to operate in 2016,’ he said.