Southern Peru Copper Corporation (SPCC) raised US$1.25 billion through a bond offering in the New York market. The bonds carry an annual interest rate of 5.35% and mature in 2036. The funds are earmarked for the development of the Tia Maria mining project. Tia Maria is expected to commence operations in Q3 2027 with an annual production capacity of 120,000 metric tons of refined copper. The project has a total capital budget of US$1.8 billion, with US$948 million already committed.