Southern Copper gets permit, waits on construction

Southern Copper was granted the construction permit for its Tia Maria copper mine in Peru earlier this week but the company has agreed to delay the start of its construction.

As part of an agreement with the Peruvian government, Southern Copper will first discuss the project with local communities that would be impacted "to address all their doubts and concerns about the project," the company said.

Tia Maria is expected to produce 120,000 t/yr of copper when it is completed, with costs for the project estimated at $1.4bn.

The project was initially expected to begin in 2015 but experienced regulatory delays.

Southern Copper is a subsidiary of Grupo Mexico, which has mining operations in the US, Mexico, Peru and Spain.