April 15, 2015 / 8:55 PM / 4 years ago

Peru okays Southern Copper's $1.2 bln Toquepala mine expansion

LIMA, April 15 (Reuters) - Peru approved Southern Copper Corp’s planned $1.2 billion expansion of its Toquepala mine in southern Peru, putting it on track to double the operation’s concentrating capacity, the company said on Wednesday.

Southern Copper, controlled by Grupo Mexico, said in a regulatory filing that the expansion aims to boost the capacity of the mine’s copper concentrator to 120,000 tonnes per day from 60,000.

The company said Tuesday that it also expects the government to issue a construction permit for its stalled $1.4 billion Tia Maria project in coming months, despite ongoing protests by farmers. (Reporting by Mitra Taj; Editing by Leslie Adler)

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