Southern Copper Corp. expects copper output to decline over the next two years as ore grades fall at key mines in Peru, even as a surge in silver prices sharpens the miner’s focus on boosting production of the precious metal it typically produces as a byproduct.
Molten copper pours into ceramic molds to form plates at a Southern Copper Corp. smelter facility in Ilo, Peru. Photographer: Dado Galdieri/Bloomberg