Friday, August 15, 2008

Southern Copper production down

Phoenix-based Southern Copper Corp. announced that it will produce 606,000 tons of copper in 2008, rather than the expected 717,000 tons.

The company attributed the projected shortfall to labor problems and work stoppages, primarily at its Cananea Mine in Sonora, Mexico.

Southern Copper operates mines in Mexico and Peru and is one of the world's largest copper producers. It is principally owned by Mexican conglomerate Grupo México.

[right, Cananea mine, credit Southern Copper]

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