MEXICO CITY (Scrap Monster): World's third largest copper producer Grupo México (BMV: GMEXICOB) said that it is looking to increase copper production at its US subsidiary American Smelting and Refining Company to 200,000-280,000 metric tons (mt) a year.
Company expected its ASARCO's copper output to reach about 190,000-200,000 metric tons in 2012.
According to Mexico's largest mining corporation, that is our long-term goal and plan with the information we currently have. It was expanding the processing mill at ASARCO's Mission mine in Arizona to add about 10,000 mt/year of copper output by 2013.
For the first half of the year, Grupo Mexico's net income increased nearly 13% as copper, silver, gold and molybdenum output continued to be strong despite lower metals prices.
During the first half of this year, the company reported copper production rose 13%, silver was up 10%, gold jumped 35%, and moly increased 6%.
ASARCO LLC is a mining, smelting, and refining company based in Tucson, Arizona that mines and processes primarily copper. Its three largest open pit mines are the Mission, Silver Bell and the Ray mines in Arizona. Its mines produce 350 to 400 million pounds of copper a year.
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