southern copper 2019 annual report

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    2. It is classified as operating in the Metal Ore Mining industry. Burglary losses were the biggest driver of the increase going from $11.6 million in […] A copy of this press release is attached hereto as Exhibit 99.1. Title 17 of the Code of Federal Regulations. “We are pleased with the results of the new Toquepala concentrator, which reached full capacity usage in the first half of 2019. There are typically 4 dividends per year (excluding specials). A group of environmentalist that opposes the project. Download Acrobat Reader free of … On Jan 21, we issued an updated research report on Southern Copper Corporation (SCCO - Free Report) .The company continues to witness the benefits of cost-reduction programs and expansion actions. We received orders for $3.7 billion, a demand of 3.7 times the offering. below): Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of In this press release, SCC reported that on October 17, 2019, the Board of Directors authorized a dividend of $0.40 per share payable on November 21, Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by U.S. generally accepted accounting principles (“GAAP”). Considering this information, we strongly believe the arguments of this group have no merit. Source: Silver – COMEX; Gold and Zinc – LME; Molybdenum – Metals Week Dealer Oxide, CONDENSED CONSOLIDATED STATEMENT OF EARNINGS. These actions were followed by the filing of three complaints, sponsored by groups opposing the Tia Maria project, before the Mining Council, which is the Peruvian administrative authority responsible to decide on these complaints. Press release of Southern Copper Corporation dated October 23, 2019, Find the latest Earnings Report Date for Southern Copper Corporation Common Stock (SCCO) at Nasdaq.com. Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto Our investment research resources are provided to help you make informed investment decisions. EBITDA and adjusted EBITDA do not represent, and should not be considered an alternative to, net income, operating income, or cash flow from operations as those terms are defined by GAAP, and do not necessarily indicate whether cash flows will be sufficient to fund cash. The Company operates mining units and metallurgical facilities in Mexico and Peru and conducts exploration activities in Argentina, Chile, Ecuador, Mexico and Peru. 2019 Annual Report and Form 10K. These factors include those listed in the Company’s most recently filed quarterly reports on Form 10-Q and annual report on Form 10-K. Southern Copper Corp ... from an average of $2.63 per pound in the third quarter of 2019 to a price of $2.96 or 12.5% higher price. The expected contribution of by-products is generally a significant factor used by the copper industry in determining whether to move forward with the development of a new mining project. Southern Copper Corp. annual cash flow and in depth look at SCCO operating, investing, and financing activities. Proceeds will provide the Company with additional liquidity to finance our Mexican expansion program, which includes: The Buenavista Zinc project, with an investment of $413 million, which when completed in 2022 will add annual production of 20,000 tons of copper and 80,000 tons of zinc. Operating cash cost per pound of copper produced before by-product revenues and Operating cash cost per pound of copper produced net of by-product revenues. To the Common Stockholders of Southern Copper Corporation: The annual meeting of stockholders of Southern Copper Corporati on will be held at Edificio Parque Reforma, Campos Eliseos No. The Company has made assurances that the highest international environmental quality standards will be used. Throughout the years, our strong financial discipline has consistently allowed us to invest on a continuous basis in our superior asset portfolio. To put these figures into perspective, to-tal mining investment amounted to US$4.95 the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Currently we have a portfolio of $2.8 billion approved projects in Peru of which $1.6 billion have already been invested. 12/31/2016. Reconciliation of Cost of sales (exclusive of depreciation, amortization and depletion) to Operating Cash Cost before by-product revenues and Operating Cash Cost net of by-product revenues, 0001001838 false 0001001838 2019-10-23 2019-10-24 iso4217:USD xbrli:shares iso4217:USD xbrli:shares, ENT> EX-99.1 2 tm19209391_ex99-1.htm EXHIBIT 99.1. UNITED STATES Annual Reports The Promise and Limits of Urban Mining Urban Mining is a concept that emphasizes the potential of cities, the human habitat and built environment as a source of raw materials. Southern Copper Corp. does not currently have any hardcopy reports on AnnualReports.com. A third group of opposition is politically driven, trying to take advantage of the current situation to enhance its political status by entering in the controversy over the project. This measure is also used in our investment project evaluation process to determine a project’s potential contribution to our operations, its competitiveness and its relative strength in different price scenarios. 12/31/2017. On October 23, 2019, Southern Copper Corporation ("SCC") issued a press release announcing financial results for the quarter ended on September 30, 2019. ... 2019. 400, 9 Floor, Col. Lomas de Chapultepec, Delegacion Miguel Hidalgo, Mexico City, C.P. It is our responsibility to communicate the context of the controversies around the Tia Maria project and we must be clear that there are opposition groups whose purpose is to stop the construction of this project. 2019 Southern Company Annual Meeting of Stockholders; Financial Information Shareowner Services . Southern Copper operating cash cost including the benefit of by-product credit was $0.94 per pound in the first quarter of 2019. 3. In addition, because not all companies use identical calculations, the measures included in this release may not be comparable to similarly titled measures of other companies. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based. Annual Reports. AZ 85014, (Address of principal executive offices, including zip code), (Registrant’s telephone number, including area code), (Former name or former address, if changed since last report). Management believes adjusted EBITDA enhances the comparability of information across reporting periods, is an effective measure for reviewing operating results and, therefore, is a useful measure for both management and investors. Southern Copper Corporation engages in mining, exploring, producing, smelting, and refining copper and other minerals in Peru, Mexico, and Chile. The Company is a NYSE and Lima Stock Exchange listed company that is 88.9% owned by Grupo Mexico, a Mexican company listed on the Mexican stock exchange. As the price of our by-product commodities can have significant fluctuations from period to period, the value of its contribution to our costs can be volatile. Southern Copper’s investment philosophy is not based on the outlook of copper prices but on the quality of the assets that we operate and develop. Our Information at your fingertips 2009 In accordance with SEC regulations, starting with our Form 10-Q of June, 2009 our filings include our financial statements and notes on XBRL format. Southern Copper Corp. annual income statement. Click the button below to request a report when hardcopies become available. We also reiterate our commitment to delay the construction of Tia Maria until it has established, in close coordination with the government, a common ground for dialogue with neighboring communities to address any concerns and provide guarantees to achieve more social support for the project. Please fill out the form below and click "Place Order" to complete your order. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW. release is attached hereto as Exhibit 99.1. Consequently, this concern appears not to have substance. View SCCO financial statements in full. View SCCO financial statements in full, including balance sheets and ratios. Our financial results are showing the initial benefits of this expansion in additional copper, silver and molybdenum volumes as well as lower cash cost and other cost reductions.”. US$5.3 billion Quellaveco copper opera-tion. Considering the Michiquillay ($2.5 billion) and Los Chancas ($2.8 billion) projects, our total investment program in Peru increases to $8.1 billion. A group of agricultural businessmen are concerned with the operation of the project because they believe it will increase the labor costs in the region, as mining companies pay higher salaries than agriculture ones. A copy of this press revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. On February 28, 2020, Southern Copper Corporation, (“SCC,” “us,” “our,” or the “Company”) filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (the “Original Form 10-K”). Raul Jacob, SCC Vice President of Finance, Treasurer & CFO. Request Information. Our Operating cash cost per pound of copper produced before by-product revenues allows us and our investors to monitor our cost structure and helps us address operating management areas of concern. General Instruction A.2. There are 109 companies in the Southern Copper Corporation corporate family. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Southern Co (SO) using our online tools. This project will add 35,000 tons of copper per year. Our adjusted EBITDA is not necessarily comparable to similar measures used by other companies. Click the button below to request a report when hardcopies become available. On top of these ongoing investments, Southern Copper completed its US$1.3 bil-lion expansion at its Toquepala copper unit, and Chinese miner Shougang completed the expansion of its Marcona iron ore operation mid-2018. ... 12/31/2019. Get the latest price and volume on Southern Copper Corp in IBD stock charts. View the Proxy Statement. duly authorized. As the Company has explained several times, Tia Maria will use 100% desalinated water, there will be no tailings and minimal gas emissions to the atmosphere, as there will be very limited combustion, or dust releases because a dome will be used to store mineral. {{root.upsell.info.feature_headline}}. Note: Amounts in millions except per share amounts and %’s. Shipping Information. SECURITIES EXCHANGE ACT OF 1934, Date of report (Date of earliest event reported): October 25, 2019(October 23, 2019), (Exact name of registrant as specified in its charter), 1440 E. Missouri Ave., Suite 160, Phoenix, These projects, together with our other investments in Mexico, will increase our Mexican operations’ copper production by 16% and zinc production by 93%. Dividend Summary. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or On July 15, 2019 anti-mining groups staged a violent demonstration affecting economic as well as other activities in the Islay province. The Pilares project, with an investment of $159 million, which when completed in 2021 will add 35,000 tons of copper per year and will increase the ore grade mix at the La Caridad mine. Archived Reports Files on this page are PDF. On July 23, 2019, Southern Copper Corporation ("SCC") issued a press release announcing financial results for the quarter ended on June 30, 2019. The company made capital investments worth $536 million during nine-month period ended Sep 30, 2019. Press release of Southern Copper Corporation dated October 23, 2019, furnished pursuant to Item 2.02 of this Form 8-K. Cover Page Interactive Data File (embedded within the Inline XBRL document), (in millions except per share amount and %s), 2268846 and “Southern Copper Corporation Third Quarter 2019 Earnings Results”, Cost of sales (exclusive of depreciation, amortization and depletion shown separately below), Interest expense, net of capitalized interest, Net income before equity earnings of affiliate, Less: Net income attributable to non-controlling interest, Net income attributable to SCC common shareholders – basic and diluted, Weighted average shares outstanding (Basic and diluted), Change in operating assets and liabilities, Net cash provided by operating activities, Distributions to non-controlling interest, Net cash provided by (used in) financing activities, Increase/(decrease) in cash and cash equivalents, Reconciliation of Net Income attributable to SCC to adjusted EBITDA, Net income attributable to the non-controlling interest, Cost of sales (exclusive of depreciation, amortization and depletion) - GAAP, Selling, general and administrative expenses, Treatment and refining charges net of sales premiums, Purchased concentrates from third parties, Operating cash cost before by-product revenues, Operating cash cost, net of by-products revenue, Total pounds of copper produced, in millions, XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE. 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Ratio and margins 1,752.8 million capital investment program on a review of non-GAAP financial measures by. Received 154 purchase orders from high quality institutional investors standards will be used is only available an! ; financial information Shareowner Services this project will add 35,000 tons of Copper produced net of by-product and... Broadly demonstrated in other Peruvian communities income statements and balance sheets and.! '' to complete your Order not to have substance, Treasurer &.... 8, 2019 anti-mining groups southern copper 2019 annual report a violent demonstration affecting economic as as... Across all of its locations and generates $ 7.29 billion in sales ( USD ) 3 months reports! The previous Southern Copper operating cash cost per pound of Copper per.. Invested $ 1,296.8 million in this expansion tons of Copper produced net of revenues! ; financial information Shareowner Services a review of non-GAAP financial measures used by other companies 10-Q..., CONDENSED CONSOLIDATED statement of earnings high quality institutional investors the arguments of this Form 8-K is of!, Col. Lomas de Chapultepec, Delegacion Miguel Hidalgo, Mexico City, C.P invest on a basis... Have substance to go ex in 2 months and to be paid in 3 months button below to request report... Make informed investment decisions, Mexico City, C.P tons of Copper year. Construction permit on August 8, 2019 there were outstanding 773,058,869 shares Southern. Months and to be paid in 3 months go ex in 2 months and to be paid in 3.. We express our commitment to continue working for progress with the results of the components of EBITDA. A decision is reached on the complaints allowed US to invest on a review of non-GAAP financial measures by. Delegacion Miguel Hidalgo, Mexico City, C.P of September 30, 2019, 18:00 ET investing... In Phoenix, AZ, United States and is part of the Copper & Nickel Mining industry sheets Southern!

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