The technology at the Tia Maria mine will be the most advanced, stated Grupo Mexico in its third quarter 2024 report.
After the start-up scheduled to begin construction of this mine in 2025, the company expects to begin operations in 2027.
Once operations begin, the project will generate 600 direct jobs and 4,800 indirect jobs.
According to its plans for the coming months, Grupo Mexico expects to carry out the following actions in this project:
- Build roads and access points.
- Train operations.
- Updating the topographic network.
- Install and delimit properties along the live fence.
- Set up temporary camp.
- Initiate earthmoving activities.
Technology at the Tia Maria mine
The project, located in Arequipa, Peru, will use state-of-the-art SX/EW plant technology. It will comply with the highest international environmental standards. It aims to produce 120,000 tons of SX/EW copper cathode per year.
The company has worked steadily to promote welfare in the province of Islay. To this end, it has successfully implemented social programs. These include initiatives in education, health, and productive development, all focused on improving the quality of life in the region.
Its current programs seek to reduce the cost of agricultural production. This is achieved through the use of state-of-the-art technology that improves productivity.
In addition, the company is focused on providing internet access. It is currently working to connect 4,600 students.
In addition to these efforts, the company is committed to the development of health centers, high performance schools, research centers, and roads in the Arequipa region through the “works for taxes” mechanism.
Tia Maria will generate significant revenues for the Arequipa region from day one of its operation.
Considering current copper prices, Grupo Mexico expects to export US$17.5 billion and contribute US$3.4 billion in taxes and royalties during the first 20 years of operation.
The company is reviewing its historic capital budget of $1.4 billion.
Project Update
As of September 30, 2024, the company has generated more than 422 jobs, of which 355 were filled by local candidates. To the extent possible, it intends to fill the 9,000 jobs it expects to generate during the construction of Tia Maria with workers from the province of Islay.