Grupo México announced that it is planning investments for 3.1 billion dollars related to metal refining, electric power and its El Arco project.
Above all, the Arco is a world-class copper deposit located in the central part of the Baja California peninsula, with mineral reserves of 2.4 billion tons with a ore grade of 0.422%, 0.3 billion tons of leach material with an ore grade of 0.288% and 0.11 grams of gold per ton.
Xavier García de Quevedo, executive vice president of Grupo México, reported that $ 2.3 billion will be spent for smelting infrastructure in Sonora and $ 815 million for new power lines in the Baja California peninsula.
Grupo México is a diversified company with a presence in Mexico, the United States, Peru and Spain.
Regarding the mining sector, the company is located as one of the largest copper producers worldwide, and the first in Mexico.
Grupo México also operates in thethrough the operation of the most important multimodal freight rail service in Mexico, which has a growing presence in the United States.
The company also provides specialized infrastructure and engineering services, power generation, land and offshore exploration and drilling, including the leasing and operation of oil rigs.
García de Quevedo indicated that the company plans investments of almost 9,000 million dollars through 2027, including 2,800 million previously announced for its El Arco copper project, which would anchor the investment in energy in Baja California.
El Arco envisages an open pit mine with a combined concentrator and SX-EW operations, with an estimated production capacity of 190,000 tons of copper and 105,000 ounces of gold per year.
The project has an estimated capital budget of $ 2.9 billion.
Other Grupo México investments will be directed to additional infrastructure, two other mines and new zinc refining capacity.
Until now, Grupo México’s power generation assets include the “La Caridad” Combined Cycle Plant based on natural gas, with a high efficiency and a capacity of 530 MW, in Nacozari, Sonora; the “El Retiro” Wind Farm, in Juchitán, Oaxaca, which has a generation capacity of 74 MW, as well as the “Fenicias” Wind Farm project, in the State of Nuevo León, which is currently 90% complete in its construction, with a capacity of 168 MW.