Mexican mining group Grupo México plans to invest between US $4 billion and $6 billion over the next three years in its American subsidiary Asarco, Mexico News Daily reports.
The head of its mining division, Leonardo Contreras, told analysts the money would go towards expanding the Ray and Silver Bell mines in Arizona and restarting the Hayden smelter and refinery. The plans dwarf the $101 million spent on the unit in 2024. He said restarting Hayden could eventually lift the group's US refined copper output to around 500,000 tonnes a year.
The announcement came as the company reported a 2% fall in third-quarter copper production, blamed on lower output in the US and Peru. Higher metal prices nonetheless pushed net profit up 56% to about $2 billion, and the company trimmed its 2026 production target slightly.
Source: Mexico News Daily
