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. US$5.3 billion Quellaveco copper opera-tion. 2019 Annual Report and Form 10K. 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. 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. 2019, to shareholders of record at the close of business on November 7, 2019. It is classified as operating in the Metal Ore Mining industry. 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. SECURITIES AND EXCHANGE COMMISSION, CURRENT REPORT 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. 12/31/2016. PDF; Form 10K (HTML) Southern Copper Corp. does not currently have any hardcopy reports on AnnualReports.com. The company made capital investments worth $536 million during nine-month period ended Sep 30, 2019. To put these figures into perspective, to-tal mining investment amounted to US$4.95 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 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. 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. 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 A copy of this press 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 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 The Company operates mining units and metallurgical facilities in Mexico and Peru and conducts exploration activities in Argentina, Chile, Ecuador, Mexico and Peru. Southern Copper Corp. does not currently have any hardcopy reports on AnnualReports.com. ¨, On October 23, 2019, Southern Copper Corporation (“SCC”) issued a press release announcing financial results for the quarter ended on September 30, 2019. Our investment research resources are provided to help you make informed investment decisions. ... Southern Copper Corp. SCCO (U.S.: NYSE) search. The Company has made assurances that the highest international environmental quality standards will be used. Annual Reports. 3. Burglary losses were the biggest driver of the increase going from $11.6 million in […] Shipping Information. 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. the Securities Exchange Act of 1934, except as expressly stated in such filing. 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 Source: Silver – COMEX; Gold and Zinc – LME; Molybdenum – Metals Week Dealer Oxide, CONDENSED CONSOLIDATED STATEMENT OF EARNINGS. 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. The previous Southern Copper Corporation dividend was 50c and it went ex 24 days ago and it was paid 9 days ago. 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 During 2019, total copper production reached over 1 million tons, a new milestone in the history of Southern Copper Corporation. 2018 Annual Report 23 For 2019, the Board of Directors approved a $1,752.8 million capital investment program. 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. 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. Archived Reports Files on this page are PDF. (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%. 2. 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. 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. 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 Click the button below to request a report when hardcopies become available. Dividend Summary. There are 109 companies in the Southern Copper Corporation corporate family. View SCCO financial statements in full, including balance sheets and ratios. 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 … They fear that their operations may be affected by the demand of labor of our project. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW. Southern Copper Corp. balance sheet, income statement, cash flow, earnings & estimates, ratio and margins. 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. 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. View the SCCO U.S. Securities and Exchange Commission reporting information. 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… 12/31/2017. Period End Date. the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 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. The Mining Council temporarily suspended the construction permit on August 8, 2019, until a decision is reached on the complaints. 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 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. 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. Considering the Michiquillay ($2.5 billion) and Los Chancas ($2.8 billion) projects, our total investment program in Peru increases to $8.1 billion. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Southern Co (SO) using our online tools. Table of Contents Southern Copper Corporation (“SCC”) release is attached hereto as Exhibit 99.1. 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. Throughout the years, our strong financial discipline has consistently allowed us to invest on a continuous basis in our superior asset portfolio. Our adjusted EBITDA is not necessarily comparable to similar measures used by other companies. However, evidence suggest that due to their specialization, mining worker’s wages scales do not affect salaries of agricultural activities. ... 2019. {{root.upsell.info.feature_headline}}. furnished pursuant to Item 2.02 of this Form 8-K. These projects, together with our other investments in Mexico, will increase our Mexican operations’ copper production by 16% and zinc production by 93%. Get the latest price and volume on Southern Copper Corp in IBD stock charts. 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. 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. During our marketing effort, we held meetings with investors in 4 cities worldwide and received 154 purchase orders from high quality institutional investors. 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. The remaining 11.1% ownership interest is held by the international investment community. UNITED STATES Raul Jacob, SCC Vice President of Finance, Treasurer & CFO. 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 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. Annual and quarterly financial reports, income statements and balance sheets for SOUTHERN COPPER CORPORATION (SCCO) on MSN Money. Southern Copper Corp. annual cash flow and in depth look at SCCO operating, investing, and financing activities. 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. A copy of this press release is … Research and Markets Sep 11, 2019, 18:00 ET. Click the button below to request a report when hardcopies become available. Press release of Southern Copper Corporation dated October 23, 2019, 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. This has been broadly demonstrated in other Peruvian communities. 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. Southern Copper Corporation is located in Phoenix, AZ, United States and is part of the Copper & Nickel Mining Industry. 10-K/A. The next Southern Copper Corporation dividend is expected to go ex in 2 months and to be paid in 3 months. 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 … 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, Southern Copper Corp. annual income statement. 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. Southern Copper Corporation engages in mining, exploring, producing, smelting, and refining copper and other minerals in Peru, Mexico, and Chile. 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. As of October 28, 2019 there were outstanding 773,058,869 shares of Southern Copper Corporation common stock, par value $0.01 per share. Southern Copper Corporation has 13140 total employees across all of its locations and generates $7.29 billion in sales (USD). Considering this information, we strongly believe the arguments of this group have no merit. 2019 Southern Company Annual Meeting of Stockholders; Financial Information Shareowner Services . A copy of this press release is attached hereto as Exhibit 99.1. 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.”. 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. Note: Amounts in millions except per share amounts and %’s. This project will add 35,000 tons of copper per year. 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. 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. There are typically 4 dividends per year (excluding specials). revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. de C.V.” Main Products: Copper, Molybdenum, Silver and Zinc: Business Strategy 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. We received orders for $3.7 billion, a demand of 3.7 times the offering. 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). 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 SECTION 13 OR 15(D) OF THE We believe that adjusted EBITDA provides useful information to management, investors and others in understanding and evaluating our operating results. View SCCO financial statements in full. This news release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Request Information. Southern Copper operating cash cost including the benefit of by-product credit was $0.94 per pound in the first quarter of 2019. Please fill out the form below and click "Place Order" to complete your order. 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. View the Proxy Statement. General Instruction A.2. 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. Reached over 1 million tons, a new milestone in the Private Securities Litigation Reform Act of 1995 Commission information. Report 23 for 2019, the Board of Directors approved a $ 1,752.8 capital. Msn Money Mining industry EBITDA provides useful information to management, investors and others in understanding and evaluating our results! Of agricultural activities Phoenix, AZ, United States and is part of the new Toquepala,... Week Dealer Oxide, CONDENSED CONSOLIDATED statement of earnings capital investment program de,. Comparable to similar measures used by Mining industry analysts United States and is part of the &...... 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