Southern Copper Strikes Back
Nov 1, 2010
Southern Copper faces stiff competition in Peru from new and expanding projects. But it is digging deep to keep on top as the country’s leading red metal producer.
by Lucien Chauvin
Southern Copper Corporation (SCC) has long been a dominant presence in Peru, with a leading position in copper. However, growth by incoming competitors forces SCC to raise its game.
"There are a number of companies with expansion plans, which is pushing us to be more and more aggressive to maintain our leadership," SCC’s executive director Oscar González tells LatinFinance.
SCC produced 350,000 metric tons of copper in 2009 at its two mines, Cuajone and Toquepala, in the south of Peru. The country’s total copper production in 2009 was 1.27 million tons.
SCC was Peru’s main copper producer through the first six months of 2010, representing 28% of output, according to the ministry of energy and mines. González says production would be roughly the same as in 2009. After that, things will start to get interesting, with SCC expanding to stay ahead of competition....
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