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Small-scale mining, fueled by high metal prices and a disorganized government permitting system, is a growing problem for companies in Peru, the world's second-largest copper producer. Southern ...
Toquepala Mine in 2003, viewed from ISS.The open pit was then 2.5 kilometers across.. Southern Copper Corporation is a mining company that was founded in 1952. The current incarnation of Southern Copper can be traced to the 2005 acquisition of Southern Peru Copper Corporation by the Mexican copper producer Minera México.
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The Toquepala mine is a large porphyry copper mine in the Tacna Province, Tacna Department, Peru. The mine is an open-pit mine producing copper, molybdenum, rhenium and silver with minor gold and zinc. [1] [2] The Toquepala mine and the Ilo smelter were opened in 1960 by Southern Peru Copper Corporation, then a subsidiary of ASARCO.
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The copper miner has given a decent financial performance despite facing some challenges in Latin America
Peru is a country in western South America. Services account for 53% of Peruvian gross domestic product, followed by manufacturing (22.3%), extractive industries (15%), and taxes (9.7%). [ 1 ] Recent economic growth has been fueled by macroeconomic stability, improved terms of trade , and rising investment and consumption. [ 2 ]
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