Copper prices soar, Southern Copper will promote new projects

An executive from Southern Copper Corp told Reuters on Thursday that as copper prices rise and supplies remain tight, the company will seek to advance several new and pending projects in the mineral-rich Andean countries.

Raul Jacob, the company's vice president of finance, said in an interview that he hopes to promote the development of the Chancas and Michiquillay copper mine projects with a scale of 5.4 billion dollars after the new presidential administration takes office later this year.

The executive added that, as one of the world's top copper mining companies, the company is also "very enthusiastic" in reviving a smelter project in southern Peru with a proposed investment of 1.35 billion dollars, but the project has not yet been approved by the board of directors.