Canceled or not? Southern Copper hit by conflicting remarks on Peru mine

• Conflicting statements about whether Southern Copper (NYSE:SCCO) is canceling development of its $1.4B Tia Maria copper mine in Peru leave investors confused about the project's future.
• Not long after a report quoted SCCO's head of institutional relations as saying the project would be canceled due to lack of support from regional authorities and continued local opposition, CEO Oscar Gonzalez said the company would "continue with its efforts to move forward with the Tia Maria project and we hope to have the support of the people and the government."
• Grupo Mexico (OTCPK:GMBXF), which owns a controlling stake in the Peruvian company, also said its subsidiary was not cancelling the project.