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. For the 4Q19, all our main by-products increased their production when compared with 4Q18 (molybdenum, +39.3%; silver, +31.7% and zinc, +15.8%). Balance Sheet Data: 2019: 2018: 2017: 2016: 2015: Cash and cash equivalents Mr. German Larrea, Chairman of the Board, commenting on the Company´s progress said: “2019 was a remarkable year for Southern Copper. 2019 adjusted EBITDA was $3,526.9 million, 0.8% lower than 2018 adjusted EBITDA of $3,556.0 million. Southern Copper Corporation has 13140 total employees across all of its locations and generates $7.29 billion in sales (USD). 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. A new 25-meter wide off-road facility for mining trucks will transport the ore from the pit to the primary crushers of the La Caridad copper concentrator. Considering the up-and-coming Michiquillay ($2.5 billion) and Los Chancas ($2.8 billion) projects, our total investment program in Peru will increase to $8.1 billion. ANNUAL REPORT 07 - 12 - - 13 - SOUTHERN COPPER CORPORATION MEXICO All the projects in execution, with exception of the Quebalix III project, were sus-pended in June, 2007 as a result of the declaration of strike by the Union. 0.6 Less: Lower depreciation, amortization and depletion expense. 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”). Tia Maria - Arequipa: On July 8, 2019 we received the construction permit for this 120,000 tons annual SX-EW copper greenfield project with a capital budget of $1,400 million. Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news. The Change in Consensus chart shows the current, 1 week ago, and 1 month ago consensus earnings per share (EPS*) forecasts. The budget for Pilares is $159 million and we expect it to start production during the first half of 2022. Copper production in 4Q19 increased 9.1% to 256,461 tons compared with 4Q18 principally due to higher production at the Toquepala mine (+44.1%). The additional copper units have a very low cost per pound, improving our … 2019 Southern Company Annual Meeting of Stockholders; Financial Information Shareowner Services . Southern Copper & Supply's annual revenues are $10-$50 million, The Premium Southern Copper & Supply Company Report, 4235 Metal & Mineral Merchant Wholesalers, 33141 Primary Smelting & Refining of Copper, 42351 Metal Service Centers & Metal Merchant Wholesalers. Stock analysis for Southern Copper Corp (SCCO:New York) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Reconciliation of Net Income attributable to SCC to adjusted EBITDA, Net income attributable to the non-controlling interest, 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. Phone: +(602)264-1375 Mexico: Campos Elíseos Nº 400, 11 floor Col. Lomas de Chapultepec, México D.F. Find the latest Southern Copper Corporation (SCCO) stock quote, history, news and other vital information to help you with your stock trading and investing. Southern Copper Corporation is located in Phoenix, AZ, United States and is part of the Copper & Nickel Mining Industry. (0.2) Operating costs and expenses for 2019 $ 2,045.4 2018-2017: Operating costs and expenses in 2018 decreased by $7.0 million, compared to 2017, mainly due to: Operating costs and expenses for 2017 $ 2,035.7 Less: Lower depreciation, amortization and depletion expense. Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q. 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. Request Information. Significant by-product 2019 production increases in molybdenum, silver and zinc: Molybdenum production reached 26,885 tons in 2019, a 22.3% increase from 21,985 tons in 2018. Its copper oxide mineralization contains estimated proven and probable reserves of 325 million tons of ore with an average copper grade of 0.287%. Metal prices decreased for copper (-4.6%, LME), molybdenum (-20.9%) and zinc (-9.2%), partially offsetting the significant contribution of the additional sales volume. The construction of the project was completed and production initiated in the 4Q18. We take a look at earnings estimates for some clues. Higher depreciation, amortization...Read more, $28.4 million decrease in other...Read more, 197.4 ? de C.V.” Main Products: Copper, Molybdenum, Silver and Zinc: Business Strategy Net income margin in 2019 was 20.4% compared with 21.7% in 2018. 2019 net sales were $7,285.6 million, a new Company record and 2.7% higher than 2018 net sales, principally due to higher sales volume for copper (+11.3%), molybdenum (+21.7%) and silver (+5.7%). Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Southern Copper Corp. Higher depreciation, amortization...Read more, 192.7 ? New buenavista concentrator:buenavista concentrator, with a milling The new capacity of 100,000 tons per day, is in process. Table of Contents Southern Copper Corporation (“SCC”) It is classified as operating in the Metal & Mineral Merchant Wholesalers industry. Definition of Terms 2 ARTICLE 2. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. DEFINITIONS Section 1.1. 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. The connection road between Pilares mine and La Caridad mine is now under construction. U.S. Industry Overview & Market Statistics: EBIT (Earnings Before Interest and Taxes), Revenue from previous years (2010 to present), Funding from Venture Capital and Private Equity firms, Additional industries in which the company operates, What is the company's size? Southern Copper Corporation has 13,899 employees across 3 locations and $7.29 B in annual revenue in FY 2019. Net income margin in 4Q19 was 16.5% compared with 17.3% in 4Q18. ANNUAL REPORT 2018 focus in A new focus SOUTHERN COPPER CORPORATION United States: 1440 E. Missouri Avenue, Suite 160, Phoenix, AZ 85014, U.S.A. Please fill out the form below and click "Place Order" to complete your order. Financial statements and reports for Southern Copper Corp USD0.01 including annual reports and financial results for the last 5 years. The current incarnation of Southern Copper can be traced to the 2005 acquisition of Mexican copper producer Minera México by Southern Peru Copper Corporation.. 88.9 percent of Southern Copper is owned by Mexican mining conglomerate Grupo México (per proxy statement dated March 27,2018) . Currently, we have completed the basic engineering and obtained all environmental permits for the project. Higher depreciation, amortization...Read more, 146.6 ? El Pilar – Sonora: This low capital intensity copper greenfield project is strategically located in Sonora, Mexico, approximately 45 kilometers from our Buenavista mine. Find out the revenue, expenses and profit or loss over the last fiscal year. 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. Southern Copper & Supply's annual revenues are $10-$50 million (see exact revenue data) and has 10-100 employees. 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. When completed, this new facility will double the Company’s zinc production capacity and will provide 490 direct jobs and 1,470 indirect jobs. In coordination with the Peruvian Government, Southern Copper continues to work on common grounds for dialogue with the neighboring communities to address any concerns they may have on the project and awaiting the proper economic and political conditions to move ahead with the project and to reinstate social and community work and other support in the region. 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. The capital budget is $413 million, and we expect to initiate operations in 3Q22. SCCO: Southern Copper Corporation - Full Company Report. Southern Copper CorporationCONDENSED CONSOLIDATED STATEMENT OF CASH FLOW(Unaudited), Change in operating assets and liabilities, Net cash provided by operating activities, (Purchase) sale of short-term investment, net, Distributions to non-controlling interest, (Decrease)/increase in cash and cash equivalents. 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. The remaining 11.1% ownership interest is held by the international investment community. 4Q19 net sales were $1,854.6 million, 9.4% higher than 4Q18 net sales of $1,694.6 million, principally due to higher sales volume of copper (+11.3%), molybdenum (+41.0%) and silver (+0.8%) as well as better silver prices (+19.0%). 2019 net income was $1,485.8 million, 3.7% lower than 2018 net income of $1,543.0 million. The process of bidding for the site preparation has started and the purchase orders for the major equipment has been placed. As of December 31, 2019, there were 773.1 million shares outstanding and as of December 31, 2018, there were 773.0 million shares outstanding. 4Q19 net income of $305.7 million was 4.3% higher than 4Q18 net income of $293.2 million. Operating cash cost per pound of copper net of by-product revenues was $0.88 in 2019, compared to $0.87 in 2018 due to an increase in production cost, SG&A expenses and lower credits per pound. This project will significantly improve the over-all mineral ore grade (combining the 0.78% expected from Pilares with the 0.34% from La Caridad). Mined zinc production increased 4.4% in 2019 due to higher production at our Santa Barbara mine (+6.4%) and the 5,837 tons production at the San Martin mine. 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. 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. The Company’s fourth quarter and twelve months earnings conference call will be held on Wednesday, February 26, 2020, beginning at 10:00 AM – EST (10:00 AM Lima and 09:00 AM Mexico City time). Southern Copper’s investment philosophy is based on the quality of the assets that we operate and develop and not on the outlook of copper prices. Phone: +(52-55) 1103-5000, Anexo 5855 Peru: Avenue Caminos del Inca 171 Our low cost production will provide the required operational strength and liquidity to continue with our growth program in Mexico and Peru aiming to achieve 1.5 million tons of copper by 2028. (Annual sales and employees). This so SCS can achieve the goals set forth for both its family of employees and customers. Southern Copper's annual revenues are over $500 million (see exact revenue data). 2.1 Less: Lower depreciation, amortization and depletion expense. Mined silver production increased by 17.1% in 2019 compared with 2018 due to higher production at the Toquepala (+60.5%), Buenavista (+11.5%) and IMMSA operations (+22.9%). For the fiscal quarter endingDec 2020, the consensus … Higher selling, general...Read more, 10.2 Higher selling, general and...Read more, 11.9 Higher selling, general and...Read more, We recognize interest and penalties,...Read more, 9.5 ? 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. Pilares – Sonora: Located 6 kilometers from La Caridad, this project consists of an open-pit mine operation with an annual production capacity of 35,000 tons of copper in concentrates. Higher selling, general...Read more, 10.2 ? Currently we have a portfolio of $2.8 billion approved projects in Peru, of which we have already invested $1.6 billion. The Government awarded the permit after completing an exhaustive review process of environmental and social matters, recognizing compliance with all established regulatory requirements and having addressed all observations raised. Southern Copper's Annual Report & Profile shows critical firmographic facts: What is the company's size? This was offset by the unit cost effect of the higher copper production. GERMAN LARREA MOTA VELASCO Chairman of … 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 & Supply's Annual Report & Profile shows critical firmographic facts: Higher depreciation, amortization...Read more, These include amortization of intangible...Read more, In our calculation of operating...Read more, Net Income attributable to the...Read more, Additionally excluded from operating cash...Read more, As the Company's lease contracts...Read more, $(190.8) million of net increase...Read more, $(201.9) million of net increase...Read more, Southern Copper Corp provided additional information to their SEC Filing as exhibits, © 2012 – 2020 Last10K.com All Rights Reserved. Download Acrobat Reader free of charge. The challenges to the construction permit were overcome when on October 30, 2019, the Mining Council of the Peruvian Ministry of Energy and Mines ratified the construction permit for the Tia Maria project. The project has a total budget cost of $38.2 million with $1.2 million expended through december 31, 2011. 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. 10-K - SCCO / Southern Copper Corp. 10-K (Annual Report) 2018-03-01 sec.gov - Use these links to rapidly review the document TABLE OF CONTENTS PART IV. The adjusted EBITDA margin in 2019 was 48.4% compared with 50.1% in 2018. ANNUAL REPORT SOUTHERN COPPER 013 beginning in the second quarter of 2013. 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. Southern Copper Corp (SCCO) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018. The Company operates mining units and metallurgical facilities in Mexico and Peru and conducts exploration activities in Argentina, Chile, Ecuador, Mexico and Peru. Annual and quarterly financial reports, income statements and balance sheets for Southern Copper Corp (SCCO) on MSN Money. PDF; Wheaton Precious Metals Corporation does not currently have any hardcopy reports on AnnualReports.com. Southern Copper Corporation engages in mining, exploring, producing, smelting, and refining copper and other minerals in Peru, Mexico, and Chile. Southern Copper annual/quarterly revenue history and growth rate from 2006 to 2020. The budget for El Pilar is $310 million and we expect it to start production during 2023. Find the latest Financials data for Southern Copper Corporation Common Stock (SCCO) at Nasdaq.com. Create an account, Consolidated Statements Of Comprehensive Income, Consolidated Statements Of Comprehensive Income (Parenthetical), Consolidated Balance Sheets (Parenthetical), Consolidated Statements Of Changes In Equity, Consolidated Statements Of Changes In Equity (Parenthetical). See insights on Southern Copper Corporation including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. HOME; Stock Profile; Company Fundamentals; Company Financials; Company Expectations Capital investments in 2019 were $707.5 million. These increases were partially offset by a decrease in production at the Cuajone mine (-2.6%) due to lower ore grades. Finally, we reaffirm our commitment to continue focusing on generating long-term value for our shareholders with our expansion projects and cost reduction efforts. STOCKS. Dividends: On February 20, 2020, the Board of Directors authorized a dividend of $0.40 per share to be paid on March 24, 2020, to shareholders of record at the close of business on March 10, 2020. However, significant decreases in metal prices could adversely affect our earnings by causing, among other things, asset impairment charges, please see "Assets impairment" below. Southern Copper Corporation is a mining company that was founded in 1952. Remove data columns and navigations in order to see much more filing content and tables in one view, Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q, Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis, Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports, Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not, Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity, See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years, or This 12.5% production increase, compared with 2018, was principally due to higher copper production at our Toquepala mine (+51.5%) from the successful ramping up of the new concentrator at this facility; and our Buenavista mine (+5.8%) as result of operating improvements at its SX-EW plants (+12.2%). Inside Southern Copper Corp's 10-K Annual Report: Financial - Expense Highlight (0.2) Operating costs and expenses for 2019 $ 2,045.4 2018-2017: Operating costs and expenses in 2018 decreased by $7.0 million, compared to 2017, mainly due to: Operating costs and expenses for 2017 $ 2,035.7 Less: Lower depreciation, amortization and depletion expense. We reached a new record on copper production and sales as result of additional production coming from the new Toquepala concentrator and our Buenavista unit. What's next for the stock? Southern Copper (SCCO) reported earnings 30 days ago. Southern Copper Corporation Common Stock (SCCO) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. These investments are in line with our growth program, which aims to reach annual production of 1.5 million tons of copper by 2028. The construction of the pilot plant is finished and the production tests have recently begun. Higher exploration expenses....Read more, 4.7 Higher exploration expenses....Read more, 90.1 ? Get the latest Full Company Report for Southern Copper Corporation from Zacks Investment Research Shipping Information. 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. Note: Amounts in millions except per share amounts and %’s. 10-K Annual Report Fri Mar 01 2019 We believe that adjusted EBITDA provides useful information to management, investors and others in understanding and evaluating our operating results. Only the engineering … Earnings: The table below highlights...Read more, Cost: Our operating costs and...Read more, The two largest components of...Read more, Operating costs and expenses in...Read more, 2019-2018: Operating costs and expenses...Read more, Share repurchase program: In 2008,...Read more, We are currently developing a...Read more, We have implemented appropriate preventative...Read more, (8.5) Lower exploration expenses....Read more, (40.6) Lower exploration expenses....Read more, (8.6) Lower exploration expenses....Read more, This improvement was mainly the...Read more, $(10.5) million increase in trade...Read more, These changes were the result...Read more, $(88.7) million of net increase...Read more, We are evaluating improvements in...Read more, 7.4 Operating costs and expenses...Read more, Also, the Company has implemented...Read more, Despite the higher sales volumes...Read more, (0.6) Operating costs and expenses...Read more, $271.2 million decrease in other...Read more, Higher production at the Buenavista...Read more, Our management, therefore, focuses on...Read more, Amounts indicated on the above...Read more, 33.8 ? 2018: neighboring populations of our operational areas benefit from the social programs of the company. Our annual copper production in 2015 was 742,993 tons, a new record. Get the detailed quarterly/annual income statement for Southern Copper Corporation (SCCO). Full production was reached in the 2Q19. 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 258,000 tons in 2019, a 51.5% production increase for this operation when compared to 2018. Summary Of Significant Accounting Policies: Schedule Ii - Valuation And Qualifying Accounts And Reserves, Summary Of Significant Accounting Policies: (Policies), Segment And Related Information: (Tables), Summary Of Significant Accounting Policies (Details), Income Taxes: - Effective Tax Rate (Details), Income Taxes: - Tax Assets And Liabilities (Details), Financing: - Outstanding Borrowing (Details), Benefit Plans: - Post Retirement (Details), Commitments And Contingencies: - Environmental Matters (Details), Commitments And Contingencies: - Guaymas Sulfuric Acid Spill (Details), Commitments And Contingencies: - Litigation Matters (Details), Commitments And Contingencies: - Labor Matters (Details), Commitments And Contingencies: - Other (Details), Stockholders' Equity - Treasury Stock (Details), Stockholders' Equity - Repurchase Program (Details), Stockholders' Equity: - Directors' Stock Award Plan (Details), Stockholders' Equity - Compensation Plan (Details), Segment And Related Information: - Financial (Details), Segment And Related Information: - Receivables (Details), Segment And Related Information: - Sales (Details), Segment And Related Information: - Geographical (Details), Segment And Related Information: - Provisional Sale (Details), Segment And Related Information: - Long Term Sales Contract (Details), Schedule Ii - Valuation And Qualifying Accounts And Reserves (Details), Exhibit 4.18: Instruments Defining The Rights Of Security Holders, Including Indentures, Exhibit 12.1: Statement Regarding Calculation Of Ratios, Exhibit 21.1: Subsidaries Of The Registrant, Exhibit 23.1: Consents Of Experts And Counsel, Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification, Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification, https://last10k.com/sec-filings/scco/0001558370-20-001781.htm. Annual Reports. Buenavista Zinc – Sonora: This project is located within the Buenavista facility and includes the development of a new concentrator to produce approximately 80,000 tons of zinc and 20,000 tons of copper per year. On behalf of Southern copper corporation’s Board, we express our thanks Click the button below to request a report when hardcopies become available. In 2016, we expect to reach copper production of 903,300 tons, an increase of 21.6% and again a new record production. Raul JacobVictor Pedraglio+(602) 264-1375, February 25, 2020Southern Copper Corporation (NYSE and BVL: SCCO). 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, 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. 2019 Total copper production reached over 1 million tons, a new milestone in the Company’s history. The annual meeting of stockholders of Southern Copper Corporation will be held at Edificio Parque Reforma, Campos Eliseos No. Higher selling, general...Read more, 4.1 ? Annual Report 2010 5 On behalf of Southern Copper Corporation’s Board, we express our thanks to all our personnel for their effort, work and dedication, to our clients for their continued trust and loyalty, and to you, our shareholders, for your permanent support. Please wait while we load the requested 10-K report or click the link below: https://last10k.com/sec-filings/report/1001838/000155837020001781/scco-20191231x10k32f1e0.htm. The post 10-K Annual Report Fri Mar 01 2019 appeared first on Last10K. Throughout the years, our strong financial discipline has consistently allowed us to invest on a continuous basis in our superior asset portfolio. Southern Copper’s Quality Management System offers support in improving the business practices employed. 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. A decrease in metal prices, led by copper prices (-8.1%, LME) offset the significant contribution of the additional sales volume. Higher selling, general...Read more, 90.7 ? On top of these excellent operational news, we also received in 2019 the financial market recognition of our leadership position as one of the industry’s best low-cost copper producers, obtaining excellent terms for our Minera Mexico’s 30-year bond offering issued in the 3Q19. We also express our commitment to all our stakeholders and to concentrate on working for the development of the local communities, regions and governments where we operate, which will result in shared prosperity and sustainability for our business and society.”. AnnuAL REPORT 2014 for exploration, mining, concentration, smelting, refining and marketing of our products. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. This was partially offset by lower depreciation, amortization and depletion at our Peruvian operations, lower exploration expenses and a $10.2 million credit related to a previously accrued environmental remediation cost at our Mexican operations which was reversed in the first quarter of 2017.