Southern Copper charts path to 1 million tonnes by 2029 as Tia Maria advances
2026-07-24 11:06:43 [Print]
Southern Copper Corporation expects its annual copper production to surpass one million tonnes by 2029, with its flagship Tia Maria project now approaching the halfway mark of construction. The outlook reinforces the company's confidence in a tightening global copper market, even as its Peruvian operations face near-term headwinds.
The company has raised its 2026 production guidance to 917,000 tonnes-approximately 1% above its original target-and anticipates output will remain broadly stable in 2027 before climbing to roughly 970,000 tonnes in 2028 as Tia Maria begins contributing meaningful volumes.
By 2029, annual production is projected to reach 1.06 million tonnes. Management also forecast a modest global copper deficit for the current year, noting that exchange inventories currently represent only about 15 days of worldwide consumption.
The company has raised its 2026 production guidance to 917,000 tonnes-approximately 1% above its original target-and anticipates output will remain broadly stable in 2027 before climbing to roughly 970,000 tonnes in 2028 as Tia Maria begins contributing meaningful volumes.
By 2029, annual production is projected to reach 1.06 million tonnes. Management also forecast a modest global copper deficit for the current year, noting that exchange inventories currently represent only about 15 days of worldwide consumption.
Blister Copper 98.5%min Delivered China RC
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China refined copper producers' sales volume statistics by province by month
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