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Southern Copper unit Minera Mexico prices US$1B notes offering

Southern Copper Corp. unit Minera México S.A. de C.V. priced its offering of US$1.0 billion of 4.500% senior notes due 2050, according to a Sept. 19 release.

Net proceeds will be used to develop the company's Mexican projects, including the Pilares and El Pilar copper projects, as well as the Buenavista zinc property. Proceeds are also intended for other capital expenditure requirements and general corporate purposes.

Southern Copper's construction permit for its long-delayed Tia Maria copper mine in Peru was suspended in August pending a review that may take up to three months.