Southern Copper Wins Michiquillay Copper Project in Peru

Southern Copper Corporation (“SCCO”) announces that it has won the public bidding process for the Michiquillay project in Cajamarca, Peru, as announced by ProInversion, the government’s investment agency. We believe that Michiquillay not only offers us a unique and very appealing opportunity for growth but is also an excellent strategic and operational complement that fits perfectly into our portfolio of mining projects in the Americas –and especially in Peru. Our tender proposed a price of $400 million.

As quoted in the press release:

The Company will make every effort to make it a priority to work side by side with the communities and the Government of Peru to reach a satisfactory social agreement that will lay a shared and firm foundation for the project. With its participation in this process, SCCO reassures its call for leadership, its long-term stance, and its commitment to mining in Peru. Michiquillay thus joins the portfolio of growth initiatives in this country, among which Tia Maria and Los Chancas stand out, flagship projects that we hope to develop and make real in the short term.

Click here to read the full text release