Tía María Secures $1.25 Billion Financing, Operations Set for 2027
Southern Peru Copper Corporation has confirmed $1.25 billion in financing for the Tía María project, expected to start operations in Q3 2027. The project's annual production capacity is projected at 120,000 tons of refined copper, emphasizing local job creation and advanced technology.
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Southern Peru Copper Corporation (SPCC) has secured $1.25 billion through bond issuance in New York, aimed at developing the Tía María copper project in Arequipa. The bonds will offer a 5.35% annual interest rate, maturing in 2036.
The Tía María project anticipates an annual production of 120,000 tons of refined copper. Currently, it has created 5,300 jobs, primarily utilizing local labor. However, challenges remain, as industry leaders highlight the need for effective project implementation amidst regulatory uncertainties that could hinder competitiveness against neighboring Chile. Stakeholders have called for renewed governmental focus on facilitating mining investments.
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