In a significant development for the global mining industry, Metso, a leading provider of sustainable technologies, solutions, and services for the aggregates, minerals processing, and metals refining industries, has announced a substantial contract win with Southern Peru Copper Corporation. The agreement, valued at €100 million ($115.06 million), positions Metso to deliver state-of-the-art copper refining technology for the long-anticipated Tia Maria project, located in the Cocachacra district, Islay Province, Peru. This strategic partnership underscores the ongoing investment in large-scale copper production and Metso's integral role in enabling efficient and environmentally conscious mineral processing operations worldwide.

Metso's Pivotal Role in the Tia Maria Project

The core of Metso's involvement in the Tia Maria project revolves around the supply of its advanced Solvent Extraction and Electrowinning (SX-EW) technology. This hydrometallurgical processing method is crucial for efficiently recovering copper from leach solutions, ultimately yielding high-purity copper cathodes. The new facility, once operational, is slated to produce an impressive 120,000 tonnes of copper cathodes annually, specifically meeting the stringent requirements for LME Grade A purity. This designation signifies that the copper produced will meet the high standards required for trading on the London Metal Exchange, making it a valuable commodity for international markets and various industrial applications.

The contract for the Tia Maria project was formally recorded in Metso’s Minerals segment orders for the first quarter (Q1) of 2026, indicating a significant booking that will contribute to the company's financial performance in the coming years. This timing also provides an insight into the anticipated project development schedule, signaling progress towards the construction and commissioning phases of this major copper venture.

Technical Specifications and Environmental Mandate

Metso's commitment extends beyond merely supplying SX-EW technology; the company will deliver a comprehensive suite of advanced equipment and services designed for optimal performance and environmental responsibility. Key components of Metso's delivery include:

• VSF Solvent Extraction and Electrowinning Facilities: These facilities are engineered to provide an integrated solution for producing copper cathodes efficiently, forming the heart of the refining process.
• Dual Media Filters: These filters are critical for ensuring the purity of the solutions, removing suspended solids that could impact the efficiency of the SX-EW process and the quality of the final product.
• Robotic Cathode Stripping Machine: Automation in cathode stripping enhances safety, reduces labor costs, and improves operational throughput by efficiently removing finished copper cathodes from their starter sheets.
• Acid Mist Capture System: A vital environmental control measure, this system is specifically designed to minimize the release of acid mist into the atmosphere during the electrowinning process, ensuring compliance with environmental regulations and promoting safer working conditions.

Beyond equipment supply, Metso has also completed the basic engineering for the initiative, laying the fundamental technical framework for the plant's design and functionality. Furthermore, the company will provide essential site advisory services and start-up spare parts. This comprehensive support package is designed to ensure a smooth commissioning process and reliable, sustained operation throughout the plant's lifecycle.

Eduardo Nilo, President of Metso South America, emphasized the company’s dedication to the project, stating, “We are excited to continue working with the Tia Maria team on this important project catering for the increasing demand of copper. Our highly experienced teams will assist in this project, and comprehensive support will be provided through our local service network.” His comments highlight Metso's commitment to leveraging its expertise and local presence to ensure the project's success.

The Strategic Importance of Tia Maria for Southern Peru Copper Corporation

Southern Peru Copper Corporation, a major producer of copper, molybdenum, and other metals, operates several significant mining and smelting operations in Peru. The Tia Maria project represents a strategic expansion of its operational footprint and production capacity. A project of this magnitude, capable of adding 120,000 tonnes of LME Grade A copper annually, is a substantial undertaking that has significant implications for the company's long-term growth trajectory and its position within the global copper market. For Southern Peru Copper, securing reliable and efficient processing technology from a trusted partner like Metso is paramount to de-risking the project's execution and ensuring its profitable operation.

Bolstering Global Copper Supply Amid Rising Demand

The 120,000 tonnes of high-purity copper cathodes planned for production at Tia Maria will be a crucial addition to the global copper supply chain. Copper is universally recognized as a critical metal, fundamental to the global energy transition, the proliferation of electric vehicles (EVs), renewable energy infrastructure, and general industrial expansion. The increasing demand is driven by:

• Decarbonization Efforts: Copper's exceptional electrical conductivity makes it indispensable for components in wind turbines, solar panels, and energy storage systems.
• Electric Vehicle Revolution: Each electric vehicle typically contains significantly more copper than a conventional internal combustion engine vehicle, ranging from 80-100 kg per vehicle in some estimates.
• Infrastructure Development: Urbanization and infrastructure projects in developing economies continue to drive demand for copper in wiring, plumbing, and construction.
• Technological Advancement: The electronics industry, telecommunications, and a myriad of other high-tech sectors rely heavily on copper.

Projects like Tia Maria are therefore not just significant for the local economy or the operating company; they are vital for meeting the world's escalating need for raw materials that underpin modern society and future sustainable development. The production of LME Grade A cathodes ensures that the copper from Tia Maria will be of the highest quality, preferred by major manufacturers and processors globally.

Metso's Track Record in Hydrometallurgical Solutions

Metso’s selection for the Tia Maria project is a testament to its extensive experience and proven capabilities in hydrometallurgical processing. The company boasts a long and successful history in this specialized field, having supplied over 30 solvent extraction plants and 20 electrowinning plants to copper industry clients across the globe since the 1990s. This depth of experience provides clients like Southern Peru Copper Corporation with confidence in Metso's ability to deliver reliable, high-performance solutions that contribute to sustainable operations with reduced lifetime costs. The VSF (Vertical Spiral Flow) solvent extraction technology, in particular, is known for its efficiency and compact design, offering operational advantages in various metallurgical applications.

Metso's Expanding Global Footprint

The Tia Maria contract is one of several significant wins for Metso in recent times, highlighting the company's robust market position and broad portfolio. Earlier in March, Metso also secured orders to provide critical crushing and grinding equipment for the Expanded Phase 2 (EP2) development at Artemis Gold’s Blackwater Mine in central British Columbia, Canada. Those orders, valued at €39 million ($45.25 million), saw approximately €16 million reflected in the Minerals segment orders for the latter half of 2025, with the remaining €23 million booked in the first quarter of 2026. These concurrent bookings underscore Metso's capacity to serve diverse mining projects across different regions and commodity types, from base metals refining to primary comminution circuits. This multi-faceted engagement across major projects globally solidifies Metso's reputation as a go-to technology provider for the mining industry.

Future Outlook and Industry Impact

The progression of the Tia Maria project, with Metso's technology at its core, holds significant promise for Peru, a country already established as a major global copper producer. The project is expected to generate substantial economic benefits, including employment opportunities, tax revenues, and local infrastructure development. For the broader mining industry, a successful implementation at Tia Maria further validates the application of advanced SX-EW technologies for sustained, high-volume, and environmentally sound copper production. As the global demand for copper continues its upward trajectory, the efficient and responsible development of new projects like Tia Maria, powered by cutting-edge solutions from companies like Metso, will be essential for balancing supply with the insatiable requirements of a rapidly electrifying world. The collaboration between Southern Peru Copper Corporation and Metso marks a pivotal step toward securing future copper supplies and driving technological excellence in mineral processing.