Southern Copper Sees Lower Output as Silver Rally Grabs Focus

Southern Copper Corp. expects copper output to decline over the next two years as ore grades fall at key mines in Peru, even as a surge in silver prices sharpens the miner’s focus on boosting production of the precious metal it typically produces as a byproduct.

The company, which has projects in Peru and Mexico, forecasts copper output of 911,400 tons this year and “a little bit north of 900,000 tons” in 2027, Chief Financial Officer Raul Jacob Ruisanchez said on a call with investors Wednesday. That’s down from 954,270 tons produced last year, with lower ore grades at the Toquepala and Cuajone mines in Peru weighing on the outlook.