Southern Copper sees 2014 copper output up nearly 20%

• Southern Copper (NYSE:SCCO) says it expects its copper output to rise 19.4% to ~800K metric tons this year as a new leach plant in Mexico boosts capacity.
• SCCO also expects construction of the $1B Tia Maria copper mine in southern Peru to begin in H2 2014 after the government approves a key permit.
• CEO Oscar Gonzalez says the company sent the Peruvian government's environmental impact study for Tia Maria yesterday, and the government review is due within 30 days.
• SCCO has said Tia Maria should produce 120K metric tons/year of copper vs. total company output of 670K last year.