Southern Copper sees 2014 copper output up nearly 20%

|About: Southern Copper Corporation (SCCO)|By:, SA News Editor

Southern Copper (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.