Mexico Copper Production Jumps 38%, Boosted by Buenavista

Mexico’s February copper production jumped 38 percent percent to 32,693 metric tons as Grupo Mexico SAB (GMEXICOB), the nation’s largest mining company, increased its output forecast for the Buenavista mine in the northern part of the country.

Mexico’s silver output gained 35 percent to 374,869 kilograms (13.2 million ounces) while gold production rose 34 percent to 7,276 kilograms, the national statistics agency, known as INEGI, reported on its website today.

Grupo Mexico’s Chief Financial Officer Daniel Muniz, boosted last month the 2015 output target for the Buenavista mine in Cananea, Mexico, to 488,000 tons of copper from 475,000 tons a year by 2015. The Mexican mining group, controlled by billionaire German Larrea, is seeking to become the world´s largest producer of the metal by 2015. The company is currently the fifth-largest.

Grupo Mexico rose 0.9 percent to 40.19 pesos at the close on the Mexico Stock Exchange.

To contact the reporter on this story: Carlos Manuel Rodriguez in Mexico City at carlosmr@bloomberg.net

To contact the editor responsible for this story: Jose Enrique Arrioja at jarrioja@bloomberg.net

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