Southern Copper Weighs $680M Expansion at Cuajone Mine in Peru

Key Facts

Southern Copper is evaluating a $680 million investment to expand the Cuajone mine in Peru via a milling upgrade. Mining.com reported that the proposal seeks to increase milling capacity by 33%, from 90,000 to 120,000 tonnes per day, resulting in a projected average annual production of 55,000 tonnes of copper and 1,400 tonnes of molybdenum.

The expansion plans follow a period where SCCO closed at $198.07 on October 21, 2026, as the company moves to counter declining ore grades at its Peruvian operations. Southern Copper has forecast total copper production of 911,400 tonnes for 2026, part of a broader $15 billion capital investment program this decade aimed at reaching an annual output of 1.6 million tonnes by 2033.