Grupo Mexico Mining News

Southern Copper surprises with $287.5 million net loss in fourth quarter

Analysts had forecast a $419 million net profit for the company in the fourth quarter.

These are the top mining projects in Peru to watch in 2018

Mining investment in Peru is expected to grow 9% this year when compared to 2016, marking the end of a three-year decline than began in 2014, to reach $10 billion next year thanks to these projects.

Southern Copper says Peru operations normal despite strike

This is the third strike this year over profit-sharing staged by the company’s unions and it affects Southern Copper's two mines in the country — Cuajone and Toquepala.

Southern Copper to resume Tia Maria project in Peru as permit imminent

Peruvian government is expected to issue a long-awaited construction permit for the mine in the first quarter of 2018.

Peru hit by nationwide mining strike; govt says situation ‘under control’

The indefinite labour action involves 56 unions, which are protesting a government’s proposed reform they see as "anti-workers".

Southern Copper wants to shoot the lights out

World number five producer adding 600,000 annual tonnes in six years.

Southern Copper's $1.2bn Peru mine expansion ready by year-end

The new section of the Toquepala open-pit mine in southern Tacna, Peru, is expected to begin operations in early 2018.

Grupo Mexico seen bucking copper slump as analysts recommend buy

Mexico’s biggest copper producer is leveraging its relatively low debt and strong profit margins to invest more than $4.6 billion expanding some of its mines.

Mining projects worth $56 billion to come on stream in Peru beginning 2016

China is currently the top investor in the country's sector, pumping $19.2 billion into several copper, gold and silver projects.

Peru's Garcia makes mining key pillar of his presidential campaign

The former president says lack of immediate benefits for communities has driven mining opposition causing the country to lose billions worth of gold and copper projects.

Over $21bn worth of mining projects delayed in Peru due to social conflict

Six people have been killed in anti-mining protests so far this year, including three at last week's clash between police and locals near Las Bambas copper mine.

Southern Copper mulls extending Tia Maria project halt

The company could extend a 60-day pause in effect since late May to allow locals more time to clear up their doubts about the project’s environmental impact.

State of emergency in Peru as anti-mining violence leaves 4 dead, dozens arrested

The move suspends civil liberties, allowing police and troops to enforce curfews in an effort to end two months of fresh violence in Arequipa.

One killed at protests against Tia Maria copper project in Peru

Farmers, anti-mining activists and local leaders have opposed the project for years, claiming it will pollute key waterways for Arequipa, where the mine will be built.

Southern Copper's $1.2bn Toquepala mine expansion OK’d

The expansion will boost the capacity of the Peruvian mine's copper concentrator to 120,000 tonnes per day from 60,000.

Southern Copper’s Tia Maria safe for the environment — Peru minister

Minister of the Environment Manuel Pulgar-Vidal said the debated and long-delayed copper mine won’t hurt water supplies as opponents claim.

Reopening of controversial Spanish copper mine sparks heated debate

The contract has been awarded to a consortium headed by Grupo Mexico, the same company responsible of a major toxic spill in Sonora last year.

Costs of Mexico copper mine spill climbs to almost $140 million

Figure is based on preliminary assessments of the damage caused to water, flora, fauna, and wildlife, as well as official information on water quality.

Gold output hike boosts Mexico’s Durango state appeal

The news represents a relief for local authorities, which have seen several projects halted in recent months.

New toxic spill reported at Mexican copper mine

So far Grupo Mexico has been charged with more than $3 million in fines, and could face more.

Mexico forces partial closure of mine responsible for massive toxic spill

Mexico's environmental prosecutor has imposed a new partial order of closure on Grupo Mexico’s Buenavista copper mine.

Less than 2% of Peru’s total mining concessions are active

Around 15,000 of the total 55,000 licences in effect risk fines and even losing all privileges over the land.

Chinese investment to make Peru world’s second-largest copper producer

Chinese backers are now behind one-third of all Peru’s new mining investments by value.

Mexican mining company lied on spill: government

Authorities said Grupo Mexico lied about a spill of 40,000 cubic meters of acids and heavy metals that contaminated two rivers and a dam in the northern state of Sonora.

Mexican copper mine 'too slow' to report spill

Grupo Mexico has denied reports claiming it did not immediately report a massive acid spill from its Buenavista mine in the country's north.