墨西哥矿业公司周四表示，将在其美国矿业子公司阿斯科公司推进重大投资，扩大亚利桑那州的雷和银铃矿，并力争重启海登炼炉和精炼厂，原因是第三季度铜产量下降。
Mexico (GMEXICOB.MX) said on Thursday it will push ahead with major investments at its US mining unit Asarco, expanding the Ray and Silver Bell mines in Arizona and aiming to restart the Hayden smelter and refinery, after copper output fell in the third quarter.
这家矿业和运输集团预计在未来三年内在阿斯科公司的主要项目上投入40亿至60亿美元，矿业主管莱昂·科雷亚斯在电话会议上对分析师表示。
The mining and transportation conglomerate expects to spend $4 billion to $6 billion over the next three years on Asarco's main projects, mining head Leonardo Contreras told analysts on a call.
这笔投资将标志着该子公司近期支出水平的大幅提升——2024年仅为1.01亿美元，尽管与该公司此前为美国扩张计划拟定的潜在支出水平一致。
The investment would mark a significant step up from the unit's recent spending levels, which came in at just $101 million in 2024, though in line with what the firm had previously floated for potential US expansion plans.
墨西哥矿业集团长期以来一直在考虑启动其美国资产的产出，尤其是因为华盛顿已将国内铜生产和保障关键矿物供应链置于优先地位。
Grupo Mexico has long weighed kickstarting output from its US assets, particularly as Washington has prioritized domestic copper production and securing critical mineral supply chains.
这些计划是在墨西哥矿业公司报告第三季度铜产量下降约2%之后提出的，原因是美国和秘鲁的产量均有所下降。
The plans come after Grupo Mexico reported that third-quarter copper output fell about 2%, hurt by lower production in the US and Peru.
今年9月，伊托分析师的报告指出，管理层计划在不确定性可能存在的美国关税背景下推进阿斯科公司的投资，同时也在评估将墨西哥精矿与美国铜废料整合的机会。
In September, Itau analysts said management intended to move ahead with Asarco investments despite uncertainty over possible US tariffs, while also evaluating opportunities to integrate Mexican concentrates and US copper scrap.
墨西哥矿业公司周四股价收盘下跌超过4%，成为墨西哥市场表现最疲软的股票之一，当日铜价也同步下跌。
Grupo Mexico shares closed down more than 4% on Thursday, making them among the weakest performers on the Mexican market, with copper prices also falling on the day.
科雷亚斯表示，墨西哥矿业公司正在继续推进雷矿扩建工作，同时进行可行性研究。他还表示，公司对以每年处理140万吨铜精矿的能力重启海登炼厂越来越乐观，这将恢复美国额外的铜加工产能。
Contreras said Grupo Mexico is continuing work on the Ray expansion while carrying out feasibility studies. He added that the company is becoming "increasingly optimistic" about restarting Hayden with capacity to process 1.4 million metric tons of copper concentrate a year, restoring additional copper-processing capacity in the United States.
“这将代表近35万吨含铜量，”孔特雷拉斯说。“如果这些原料进入我们的炼厂，我们可能面临50万吨铜的产量。”他说，Silver Bell项目也处于可行性研究阶段，预计未来几个季度将有更清晰的进展。
"That would represent almost 350,000 metric tons of contained copper," Contreras said. "If that feeds into our refinery, we could be looking at 500,000 metric tons of copper." He said the Silver Bell project is also in the feasibility stage, with more clarity expected in coming quarters.
即便如此，墨西哥集团的长期增长计划仍以秘鲁为中心，通过子公司南方铜业（SCCO.N）推进，尽管其旗舰项目Tia Maria出现延期。公司本周表示，投产时间已从2027年第四季度推迟至2028年上半年。
Even so, Grupo Mexico's long-term growth plans remain centered on Peru through subsidiary Southern Copper (SCCO.N), despite a delay to its flagship Tia Maria project. The company said this week that startup had been pushed back from the fourth quarter of 2027 to the first half of 2028.
南方铜业还在秘鲁开发Los Chancas和Michiquillay项目，预计分别每年生产13万吨和22.5万吨铜。这两个项目目前均计划在2032年前后开始运营。
Southern Copper is also developing the Los Chancas and Michiquillay projects in Peru, expected to produce 130,000 and 225,000 tons of copper a year, respectively. Both are currently scheduled to begin operating around 2032.