Southern Copper Corp. NYS: SCCO GO. 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. The information in this report and the exhibit attached hereto are being furnished and shall not be deemed as “filed” for purposes of Section 18 of the Securities Act of 1934. 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. SECURITIES AND EXCHANGE COMMISSION, CURRENT REPORT 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”). 400, 9 Floor, Col. Lomas de Chapultepec, Delegacion Miguel Hidalgo, Mexico City, C.P. 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. Click the button below to request a report when hardcopies become available. Table of Contents Southern Copper Corporation (“SCC”) Research and Markets Sep 11, 2019, 18:00 ET. 12/31/2016. However, evidence suggest that due to their specialization, mining worker’s wages scales do not affect salaries of agricultural activities. Southern Copper Corp. annual income statement. As of October 28, 2019 there were outstanding 773,058,869 shares of Southern Copper Corporation common stock, par value $0.01 per share. the Securities Exchange Act of 1934, except as expressly stated in such filing. 1. 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. Raul Jacob, SCC Vice President of Finance, Treasurer & CFO. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Find the latest Earnings Report Date for Southern Copper Corporation Common Stock (SCCO) at Nasdaq.com. 2. 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.”. Annual Reports. ... Southern Copper Corp. SCCO (U.S.: NYSE) search. 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, 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. ... 12/31/2019. US$5.3 billion Quellaveco copper opera-tion. 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. UNITED STATES 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. 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. As of September 30, 2019, there were 773.1 million shares outstanding; and as of December 31, 2018 and September 30, 2018 there were 773.0 million shares outstanding. Global Copper Mining Markets Report 2019 Featuring Codelco, Glencore, BHP Billiton, Southern Copper, Freeport News provided by. View the Proxy Statement. Southern Copper's annual revenues are over $500 million (see exact revenue data). View SCCO financial statements in full, including balance sheets and ratios. 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. Request Information. {{root.upsell.info.feature_description}} Please note that this feature is only available as an add-on to YCharts subscriptions. 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. 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. This has been broadly demonstrated in other Peruvian communities. Source: Silver – COMEX; Gold and Zinc – LME; Molybdenum – Metals Week Dealer Oxide, CONDENSED CONSOLIDATED STATEMENT OF EARNINGS. We express our commitment to continue working for progress with the local population. Southern Copper Corp. balance sheet, income statement, cash flow, earnings & estimates, ratio and margins. 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 Corp. does not currently have any hardcopy reports on AnnualReports.com. During our marketing effort, we held meetings with investors in 4 cities worldwide and received 154 purchase orders from high quality institutional investors. The Company has made assurances that the highest international environmental quality standards will be used. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW. 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. View the SCCO U.S. Securities and Exchange Commission reporting information. 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. Southern Copper Corp. SEC filings breakout by MarketWatch. revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 10-K - SCCO / Southern Copper Corp. 10-K (Annual Report) 2019-03-01 sec.gov Use these links to rapidly review the document TABLE OF CONTENTS TABLE OF CONTENTS 2 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. 8-K - Current Report Southern Copper Corporation has 13140 total employees across all of its locations and generates $7.29 billion in sales (USD). 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. Note: Amounts in millions except per share amounts and %’s. the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 2019 Annual Report and Form 10K. On October 23, 2019, Southern Copper Corporation ("SCC") issued a press release announcing financial results for the quarter ended on September 30, 2019. Our adjusted EBITDA is not necessarily comparable to similar measures used by other companies. Press release of Southern Copper Corporation dated October 23, 2019, The previous Southern Copper Corporation dividend was 50c and it went ex 24 days ago and it was paid 9 days ago. PDF; Form 10K (HTML) Southern Copper Corp. does not currently have any hardcopy reports on AnnualReports.com. 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. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Southern Co (SO) using our online tools. Click the button below to request a report when hardcopies become available. It is classified as operating in the Metal Ore Mining industry. 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. 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 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 Corporation engages in mining, exploring, producing, smelting, and refining copper and other minerals in Peru, Mexico, and Chile. 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 “We are pleased with the results of the new Toquepala concentrator, which reached full capacity usage in the first half of 2019. 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. duly authorized. 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. de C.V.” Main Products: Copper, Molybdenum, Silver and Zinc: Business Strategy View SCCO financial statements in full. Southern Copper operating cash cost including the benefit of by-product credit was $0.94 per pound in the first quarter of 2019. {{root.upsell.info.feature_headline}}. They fear that their operations may be affected by the demand of labor of our project. 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 … The company made capital investments worth $536 million during nine-month period ended Sep 30, 2019. ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ... SOUTHERN COPPER CORPORATION ... At February 27, 2019, there were of … These projects, together with our other investments in Mexico, will increase our Mexican operations’ copper production by 16% and zinc production by 93%. 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. ITEM 8.01 Other Events On September 19, 2019, Minera Mexico, S.A. de C.V. ("Minera Mexico" or the "Company"), an indirect subsidiary of Southern Copper Corporation ("SCC"), issued a press release announcing that on September 19, 2019 it had priced US$1.0 billion aggregate principal amount of 4.500% Senior Notes due 2050, in an unregistered offering pursuant to Rule 144A and Regulation S … On July 15, 2019 anti-mining groups staged a violent demonstration affecting economic as well as other activities in the Islay province. Annual and quarterly financial reports, income statements and balance sheets for SOUTHERN COPPER CORPORATION (SCCO) on MSN Money. Annual Reports * … The next Southern Copper Corporation dividend is expected to go ex in 2 months and to be paid in 3 months. We are currently developing the next phase of a growth program aiming to reach a milestone copper production capacity of 1.5 million tons by 2025, through the development of new projects. 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. 2019, to shareholders of record at the close of business on November 7, 2019. Dividend Summary. Shipping Information. General Instruction A.2. Considering this information, we strongly believe the arguments of this group have no merit. 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. As of September 30, 2019, we have invested $1,296.8 million in this expansion. 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. 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. 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 There are typically 4 dividends per year (excluding specials). 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. We believe that adjusted EBITDA provides useful information to management, investors and others in understanding and evaluating our operating results. 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