Grupo México plans to invest between $4 billion and $6 billion in its U.S. subsidiary, Asarco. The spending is planned over the next three years.
The investment will support projects in Arizona, including expansions of the Ray and Silver Bell mines. The company is also optimistic about the potential restart of the Hayden smelter and refinery.
The plan comes after Grupo México reported a 1.9% drop in third-quarter copper production, attributed to lower output in Peru and at Asarco. The planned investment is substantially higher than the $101 million Asarco invested in 2024 and aligns with U.S. efforts to strengthen domestic critical mineral supply chains. Grupo México shares fell more than 4% following the announcements.