Seeking Alpha

Southern Copper plans record capex in 2014 before easing back

  • Southern Copper (SCCO +3.9%) says it expects record capital expenditures in 2014 as it advances projects that will boost production from its operations in Mexico and Peru.
  • The miner expects to invest $2.3B in 2014, which would be a 35% increase over the $1.7B spent last year. but then decline to $1.6B in 2015, $900M in 2016 and $500M in 2017, when it wraps up its current expansion program.
  • The Buenavista mine in Mexico is seen as the main driver of SCCO's increased production this year; the company has been advancing a $3.4B expansion program that will increase the mine's production capacity to 488K tons/year of copper in 2015 from the current 180K tons.
  • Q4 earnings
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Comments (1)
  • ronnidee
    , contributor
    Comments (2) | Send Message
     
    How about increasing the dividend? You are choking your share holders.
    7 Feb 2014, 05:31 PM Reply Like
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