RPT-UPDATE 1-Volcan says two new silver projects to raise output next year

Tue Sep 17, 2013 7:38pm EDT

AREQUIPA, Peru, Sept 17 (Reuters) - Peruvian miner Volcan expects two new silver projects to add 8 million ounces to its current annual output of 22 million ounces, the company's president said on Tuesday.

The two projects, worth a combined investment of $380 million, should start producing in January and February 2014, Jose Picasso told reporters at a mining conference in Peru.

"These two projects will allow Volcan to add another 8 million ounces of silver on top of current production," he said.

Volcan, a major zinc and silver producer, could increase silver production with another 6 million ounces when a third project starts operating in 2016 or 2017, Picasso said.

"Volcan would then produce up to 36 million ounces" of silver, he said.

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