According to the Chief Executive Officer of Southern Copper Corp., the world’s second-largest reserves of the metal, Oscar Gonzalez Rocha, the company could easily double their annual output to more than 1 million metric tons.
Southern expects to produce 500,000 metric tons this year still plans on raising output to 70% with their Peruvian mines by 2012.
Southern also expects the approval of the Peruvian government for its $934 million Tia Maria copper mine construction to begin by the first quarter of 2010.
Peru is the world's third largest copper producer.
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