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Southern Copper Corp. hopes to begin construction as soon as this year at a once fiercely contested copper mine in Peru’s coastal mountains as socio-political tensions ease and authorities get behind the project.
Developing Tia Maria would be a big deal for the company, Peru and the global copper market. The stalled project has stood as a symbol of the difficulties of building new mines — a key reason for copper’s surge to record prices this year as investors bet on demand exceeding supply. Bringing Tia Maria on stream by the end of 2027 would generate a much-needed 120,000 metric tons a year of metal for a market hit by a string of supply setbacks of late, including the closure of a major copper mine in Panama.
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