Loan & DebtJun 26, 2026, 09:12 AM
Southern Copper Secures $1.25B for Tía María Project
AI Summary
Southern Peru Copper Corporation (SPCC), a subsidiary of Southern Copper Corporation, announced it raised US$1.25 billion through a bond offering in the New York market. These funds are primarily designated for the development of the Tía María mining project, which is expected to begin operations in Q3 2027 and produce 120,000 metric tons of refined copper annually. The bonds carry an annual interest rate of 5.35% and mature in 2036. SPCC also highlighted progress on its Michiquillay project, which is projected to produce 225,000 metric tons of copper per year starting in 2032.
Key Highlights
- Secured US$1.25 billion through a bond offering for the Tía María project.
- Bonds have an annual interest rate of 5.35% and mature in 2036.
- Tía María project to produce 120,000 metric tons of refined copper annually.
- Tía María project expected to begin operations in Q3 2027.
- Project's total capital budget is US$1.8 billion, with US$948 million already committed.
- Michiquillay project expects 225,000 metric tons of copper annually, with US$2.5 billion investment.
Price Impact
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