Copper Smelting & Refining

Southern Copper Corporation is in discussions with the administration to advance its $10.2 billion in investments in Mexico, a pipeline the company expects to drive organic growth in the coming years. The company's Mexican copper circuit, which includes the Angangueo and Chalchihuites mines along with the Empalme Smelter, is expected to position it as a fully integrated copper producer. Southern Copper expects construction to begin in the first quarter of 2027 at its new El Pilar copper project in Sonora, with production slated to start in the second half of 2029; El Pilar's copper oxide mineralization holds estimated proven and probable reserves of 317 million tons of ore, an expected 18-year mine life, and projected output of 36,000 tons of copper cathode in 2029. The El Arco mine in Baja California, described as a world-class copper deposit with more than 1,230 million tons in sulfide ore reserves and 141 million tons of leach material, is expected to produce 190,000 ounces of copper in 2030. Southern Copper expects total production to reach 1.056 million tons in 2029 and targets 1.6 million tons by 2035, with Tía María, Los Chancas and Michiquillay in Peru, along with El Pilar, El Arco and other Mexican projects, aiding output in the coming years.