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. Accordingly, this information will not be incorporated by reference into any registration statement or other document filed by Southern Copper Corporation pursuant to the Securities Act of 1933 or 2019 Annual Report and Form 10K. ... 12/31/2019. The Mining Council temporarily suspended the construction permit on August 8, 2019, until a decision is reached on the complaints. the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 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). Set Alerts ... 12/31/2019: 10-K: Annual Reports: 02/26/2020: 02/25/2020: 8-K: Special Events: 11/01/2019: 10/31/2019: 8-K: Special Events: 10/28/2019… 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. We expect the differences with these three groups will be resolved in the near future and we will continue with this project, which will have a very positive impact on growth, investment and the well-being of the Arequipa region. Our determination of the components of adjusted EBITDA is evaluated periodically based on a review of non-GAAP financial measures used by mining industry analysts. There are typically 4 dividends per year (excluding specials). 1. 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, 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. Southern Copper Corporation engages in mining, exploring, producing, smelting, and refining copper and other minerals in Peru, Mexico, and Chile. Request Information. In addition to the risks and uncertainties noted in this news release, there are certain factors that could cause results to differ materially from those anticipated by some of the statements made. Shipping Information. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW. Archived Reports Files on this page are PDF. 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. SECURITIES AND EXCHANGE COMMISSION, CURRENT REPORT Source: Silver – COMEX; Gold and Zinc – LME; Molybdenum – Metals Week Dealer Oxide, CONDENSED CONSOLIDATED STATEMENT OF EARNINGS. On July 15, 2019 anti-mining groups staged a violent demonstration affecting economic as well as other activities in the Islay province. Dividend Summary. release is attached hereto as Exhibit 99.1. Southern Copper Corporation: Common Stock Markets: New York Stock Exchange and the Lima Stock Exchange: Ticker Symbol : SCCO: CIIU : 1320 group: Economic Group : Indirectly, is part of “Grupo Mexico S.A.B. Southern Copper Corp. does not currently have any hardcopy reports on AnnualReports.com. We received orders for $3.7 billion, a demand of 3.7 times the offering. Toquepala Expansion Project – Tacna: This $1.3 billion project includes a new-state-of-the-art concentrator that has increased Toquepala´s annual copper production to reach 257,000 tons in 2019, a 51% production increase for this operation when compared to 2018. the Securities Exchange Act of 1934, except as expressly stated in such filing. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. 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. 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. revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. The company made capital investments worth $536 million during nine-month period ended Sep 30, 2019. The Company’s third quarter and nine months earnings conference call will be held on Thursday October 24, 2019 beginning at 10:00 AM – EST (9:00 AM Lima and Mexico City time). They fear that their operations may be affected by the demand of labor of our project. 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. Exhibit 99.1 RESULTS FIRST QUARTER 2019 Investor Relations: Raul Jacob +(602) 264-1375 April 29, 2019 Southern Copper Corporation (NYSE and BVL: SCCO) [email protected] www.southerncoppercorp.com Copper production increased 11.6% in 1Q19 when compared with 1Q18, due to higher production at all of our operations. On October 23, 2019, Southern Copper Corporation ("SCC") issued a press release announcing financial results for the quarter ended on September 30, 2019. The SCC total debt has the longest schedule of amortization in the mining industry (approximately 20 years) which demonstrates our commitment to maintain a strong financial position without significant short-term due dates. Table of Contents Southern Copper Corporation (“SCC”) Following is a reconciliation of adjusted EBITDA to Net Income attributable to SCC and Operating Cash Cost before by-product revenues and Operating Cash Cost net of by-product revenues to their more comparable GAAP measure: EBITDA (earnings before interest, taxes, depreciation and amortization) is a measure commonly used by companies to evaluate operating performance and the ability to generate cash. Southern Copper Corp. SEC filings breakout by MarketWatch. 3. Southern Copper Corp. does not currently have any hardcopy reports on AnnualReports.com. Southern Copper Corporation (SCC) is one of the largest integrated copper producers in the world and we believe we currently have the largest copper reserves in the industry. 2019, to shareholders of record at the close of business on November 7, 2019. 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. Click the button below to request a report when hardcopies become available. 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 Southern Copper's annual revenues are over $500 million (see exact revenue data). ... 2019. Southern Copper Corp. balance sheet, income statement, cash flow, earnings & estimates, ratio and margins. The next Southern Copper Corporation dividend is expected to go ex in 2 months and to be paid in 3 months. 400, 9 Floor, Col. Lomas de Chapultepec, Delegacion Miguel Hidalgo, Mexico City, C.P. 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. There are 109 companies in the Southern Copper Corporation corporate family. revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. As of October 28, 2019 there were outstanding 773,058,869 shares of Southern Copper Corporation common stock, par value $0.01 per share. Click the button below to request a report when hardcopies become available. In addition, Tia Maria is located in the desert of Arequipa and the industrial plants of the project will be 11 kilometers away from the Tambo valley with no negative effect on it. Press release of Southern Copper Corporation dated October 23, 2019, During 2019, total copper production reached over 1 million tons, a new milestone in the history of Southern Copper Corporation. 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 “We are pleased with the results of the new Toquepala concentrator, which reached full capacity usage in the first half of 2019. Note: Amounts in millions except per share amounts and %’s. (NEW YORK) – Jewelers’ Security Alliance (JSA) has released its 2019 Annual Crime Report which showed that dollar losses from crime against the U.S. jewelry industry increased from $53.4 million in 2018 to $101 million in 2019, an increase of 89.1%. 12/31/2016. It is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce anode copper; and refining of anode copper to produce copper cathodes, as well as refined silver. However, evidence suggest that due to their specialization, mining worker’s wages scales do not affect salaries of agricultural activities. 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. 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. 2019 Southern Company Annual Meeting of Stockholders; Financial Information Shareowner Services . A copy of this press release is … We express our commitment to continue working for progress with the local population. The remaining 11.1% ownership interest is held by the international investment community. The previous Southern Copper Corporation dividend was 50c and it went ex 24 days ago and it was paid 9 days ago. Our adjusted EBITDA is not necessarily comparable to similar measures used by other companies. Currently we have a portfolio of $2.8 billion approved projects in Peru of which $1.6 billion have already been invested. This news release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. ¨, On October 23, 2019, Southern Copper Corporation (“SCC”) issued a press release announcing financial results for the quarter ended on September 30, 2019. Considering this information, we strongly believe the arguments of this group have no merit. ... Southern Copper Corp. SCCO (U.S.: NYSE) search. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Southern Co (SO) using our online tools. The measure operating cash cost per pound of copper produced net of by-product revenues is a common measure used in the copper industry to track performance and it is a useful management tool that allows us to better allocate our resources. On July 23, 2019, Southern Copper Corporation ("SCC") issued a press release announcing financial results for the quarter ended on June 30, 2019. This has been broadly demonstrated in other Peruvian communities. This project will add 35,000 tons of copper per year. 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. During our marketing effort, we held meetings with investors in 4 cities worldwide and received 154 purchase orders from high quality institutional investors. Raul Jacob, SCC Vice President of Finance, Treasurer & CFO. Get the latest price and volume on Southern Copper Corp in IBD stock charts. furnished pursuant to Item 2.02 of this Form 8-K. 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. Considering the Michiquillay ($2.5 billion) and Los Chancas ($2.8 billion) projects, our total investment program in Peru increases to $8.1 billion. Southern Copper Corp. annual cash flow and in depth look at SCCO operating, investing, and financing activities. Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see A group of environmentalist that opposes the project. 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. View the Proxy Statement. Annual Reports * … Southern Copper Corporation has 13140 total employees across all of its locations and generates $7.29 billion in sales (USD). 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. General Instruction A.2. THIRD QUARTER AND NINE MONTHS 2019 RESULTS. Annual Reports. Annual and quarterly financial reports, income statements and balance sheets for SOUTHERN COPPER CORPORATION (SCCO) on MSN Money. Research and Markets Sep 11, 2019, 18:00 ET. 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. 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. 12/31/2017. Period End Date. As of September 30, 2019, we have invested $1,296.8 million in this expansion. PURSUANT TO SECTION 13 OR 15(D) OF THE A copy of this press release is attached hereto as Exhibit 99.1. 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”). View the SCCO U.S. Securities and Exchange Commission reporting information. This 12.5% increase in production, compared with 2018, was principally due to higher copper production at the new Toquepala concentrator (+51.5%); and at … It is classified as operating in the Metal Ore Mining industry. UNITED STATES 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 Company operates mining units and metallurgical facilities in Mexico and Peru and conducts exploration activities in Argentina, Chile, Ecuador, Mexico and Peru. US$5.3 billion Quellaveco copper opera-tion. Throughout the years, our strong financial discipline has consistently allowed us to invest on a continuous basis in our superior asset portfolio. View SCCO financial statements in full, including balance sheets and ratios. de C.V.” Main Products: Copper, Molybdenum, Silver and Zinc: Business Strategy 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. 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”). PDF; Form 10K (HTML) Southern Copper Corp. does not currently have any hardcopy reports on AnnualReports.com. 10.30.19 Southern Peru invokes an atmosphere of peace and dialogue after receiving ratification of construction permit for Tía María Project 10.24.19 SCC conference call 3Q19 transcript 10.23.19 SCC reports 3Q19 results 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, Global Copper Mining Markets Report 2019 Featuring Codelco, Glencore, BHP Billiton, Southern Copper, Freeport News provided by. {{root.upsell.info.feature_headline}}. Southern Copper Corp. NYS: SCCO GO. 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