UPDATE 1-Grupo Mexico sees 2013 copper down to 820,000 tonnes
By Adriana Barrera
MEXICO CITY, Sept 3 (Reuters) - Mexican miner Grupo Mexico expects to produce 820,000 tonnes of copper in 2013, down 3.5 percent from its previous estimate, the president of the company's Minera Mexico subsidiary told Reuters on Tuesday.
Grupo Mexico sees copper output of between 900,000 and 910,000 tonnes in 2014, and expects production of about 1 million tonnes in 2015, Xavier Garcia de Quevedo said at an event in Mexico City.
"Our production this year is going to be very similar to last year's," said Garcia de Quevedo. "By 2015 ... we should be talking about nearing 1 million tonnes of copper."
The company said in March that it expected to produce 850,000 tonnes of copper this year.
Garcia de Quevedo also said that 2014 investment should remain close to this year's $3.3 billion in spending, with more than half of that going toward the company's mining division.
Grupo Mexico runs mines in Mexico, Peru and the United States, including the Buenavista mine in northern Mexico, one of world's largest copper mines.
The company, which has been hit by a fall in metals prices, also has infrastructure and transport divisions.
Demand from China, the world's top copper consumer, has been stronger than expected over the summer months, helping to push copper prices above $7,000 a tonne in August.
Grupo Mexico shares ended the day down 1.73 percent on Mexico's stock exchange before the copper output projections were announced.
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