Mexican copper projects are set to play a significant role in meeting global demand for copper over the next decade, according to a report from the mining chamber Camimex. The report suggests that five copper projects in Mexico have the potential to contribute 324,000 metric tons per year to global demand through 2030, driven by increasing use of electric vehicles and renewable energies.
Grupo México, a prominent mining company in Mexico, has two major copper projects in the pipeline. The Buenavista Zinc project, with an investment of US$416 million, is expected to begin operations this year. It involves the construction of a concentrator to produce 20,000 metric tons per year of copper and 100,000 metric tons per year of zinc. Additionally, the El Pilar project, with an investment of US$310 million, is on track to commence operations in 2024, supplying 36,000 metric tons per year of copper through a conventional open-pit mine.
Torex Gold’s Media Luna project in Guerrero, primarily focused on gold, is also estimated to produce 15,000 metric tons per year of copper when it begins operations in the first quarter of 2025. Moreover, a joint venture between Agnico Eagle Mines and Teck Resources is advancing the San Nicolás copper-zinc project in Zacatecas. The project is expected to yield 65,800 metric tons per year of copper, 9,000 metric tons per year of zinc, 17,500 ounces of gold, and 2.1 million ounces of silver annually over a 15-year period, with operations starting in 2026.
Grupo México’s flagship El Arco project in Baja California is considered a world-class copper deposit. This project combines an open-pit mine with a concentrator and production plant, aiming to produce 190,000 metric tons per year of copper and 105,000 ounces of gold annually. The company has completed the environmental impact study and is currently reviewing the basic engineering analysis to apply for environmental permits. Production at El Arco is expected to begin in 2030.
With copper demand projected to increase by 30 million metric tons over the next decade due to the growing adoption of electric vehicles and renewable energy technologies, these Mexican copper projects will play a vital role in meeting the global demand for this essential metal.
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