Copper production at Grupo Mexico accumulated a 28.2% growth in the last decade, according to the company’s own data.
Thus, this production rose from 847,386 tons in 2014 to 1,086,052 tons in 2024.
In Mexico, the main copper producing mines of this company are Buenavista del Cobre, La Caridad, San Martín, Charcas and Santa Bárbara.
Copper production at Grupo Mexico
The company has the fourth largest copper mine in the world: Buenavista del Cobre. This mine is part of its portfolio of unique assets, which strengthens its position in the market.
Globally, Grupo Mexico has the largest proven copper reserves. This fact gives it the capacity to maintain its current level of production for decades.
Moreover, this could be achieved without significant exploration. The company’s copper reserves are critical, especially now that the demand for copper is increasing due to the transition to renewable energy.
This is Grupo Mexico’s copper production trend, in thousands of tons:
- 2014: 847.
- 2015: 906.
- 2016: 1,054.
- 2017: 1,011.
- 2018: 1,002.
- 2019: 1,119.
- 2020: 1,129.
- 2021: 1,085.
- 2022: 1,007.
- 2023: 1,030.
- 2024: 1,086.
Business Profile
Grupo Mexico’s Mining Division is represented by its subsidiary Americas Mining Corporation (AMC). The main subsidiaries of this division are Southern Copper Corporation (SCC), which operates in Mexico and Peru, and Asarco, which is located in the United States.
Southern Copper Corporation is listed on the New York and Lima stock exchanges. SCC’s shareholders are mainly comprised of Grupo Mexico (88.9%) and other shareholders (11.1%), either directly or through subsidiaries. The company has a presence in several locations, with mines, metallurgical plants and exploration projects in Peru, Mexico, the United States, Spain, Chile, Argentina and Ecuador.
Grupo Mexico’s cumulative consolidated copper production through 2024 experienced a recovery that was mainly due to a 10.7% increase in production at Southern Peru and a 4.3% increase at Minera Mexico.
During the fourth quarter of 2024, the company’s production grew 0.8% compared to the same period of 2023. This increase was explained by improved production at Buenavista (+12.2%), IMMSA (+3.5%) and Cuajone (+2.1%), results attributed to improved ore grades and higher recovery efficiency.