With an investment of 100 million dollars, Grupo Mexico acquires copper deposit.
Southern Copper Corporation, a subsidiary of Grupo Mexico, bought the mine called El Pilar, located in Sonora, for $100 million.
In its financial year to the second quarter report, the company said this is a copper deposit with estimated reserves of 259 million tons, with an average ore grade of 0.30 percent copper per ton.
In a preliminary study, we estimate an investment of 300 million dollars with an annual production of 35 thousand tons of copper cathodes, beginning operations in 2017.
"El Pilar is located in the state of Sonora in Mexico, 45 kilometers from our Buenavista del Cobre mine," the company stated.
Grupo Mexico will develop this project using efficient and environmentally friendly technology for metal extraction.
English Translation of Original Article: http://www.eldiariodesonora.com.mx/nota.php?nota=55859
