southern copper annual report
This so SCS can achieve the goals set forth for both its family of employees and customers. Higher selling, general...Read more, 4.1 ? Higher exploration expenses....Read more, 4.7 Higher exploration expenses....Read more, 90.1 ? 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. Phone: +(602)264-1375 Mexico: Campos Elíseos Nº 400, 11 floor Col. Lomas de Chapultepec, México D.F. 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 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. 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. 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). 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. This was the result of higher production at all of our mines, led by our Toquepala mine (+75.0%) as result of its new molybdenum plant that set off production in April 2019. 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. 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? 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. Note: Amounts in millions except per share amounts and %’s. El Pilar – Sonora: This low capital intensity copper greenfield project is strategically located in Sonora, Mexico, approximately 45 kilometers from our Buenavista mine. Southern Copper annual/quarterly revenue history and growth rate from 2006 to 2020. 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. 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. Exhibit 4.2 Southern Copper Corporation as Issuer and Wells Fargo Bank, National Association, as Trustee SIXTH SUPPLEMENTAL INDENTURE Dated as of April 23, 2015 to INDENTURE Dated as of April 16, 2010 5.875% Notes due 2045 TABLE OF CONTENTS Page ARTICLE 1. 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%). The capital budget is $413 million, and we expect to initiate operations in 3Q22. The post 10-K Annual Report Fri Mar 01 2019 appeared first on Last10K. It is classified as operating in the Metal Ore Mining industry. The construction of the project was completed and production initiated in the 4Q18. 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. 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. Higher selling, general...Read more, 90.7 ? However, significant decreases in metal prices could adversely affect our earnings by causing, among other things, asset impairment charges, please see "Assets impairment" below. (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. Balance Sheet Data: 2019: 2018: 2017: 2016: 2015: Cash and cash equivalents 10-K Annual Report Fri Mar 01 2019 Phone: +(52-55) 1103-5000, Anexo 5855 Peru: Avenue Caminos del Inca 171 The Change in Consensus chart shows the current, 1 week ago, and 1 month ago consensus earnings per share (EPS*) forecasts. 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. 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”). Currently, we have completed the basic engineering and obtained all environmental permits for the project. 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. 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. 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. 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. Get the latest Full Company Report for Southern Copper Corporation from Zacks Investment Research 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%). These increases were partially offset by a decrease in production at the Cuajone mine (-2.6%) due to lower ore grades. 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 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. Find out the revenue, expenses and profit or loss over the last fiscal 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. Southern Copper's Annual Report & Profile shows critical firmographic facts: What is the company's size? Capital investments in 2019 were $707.5 million. There are 109 companies in the Southern Copper Corporation corporate family. 2018: View the Proxy Statement. (Annual sales and employees). The adjusted EBITDA margin in 2019 was 48.4% compared with 50.1% in 2018. Southern Copper Corporation is located in Phoenix, AZ, United States and is part of the Copper & Nickel Mining Industry. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. 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 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. This was offset by the unit cost effect of the higher copper production. 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. Throughout the years, our strong financial discipline has consistently allowed us to invest on a continuous basis in our superior asset portfolio. Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q. 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%). The remaining 11.1% ownership interest is held by the international investment community. 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. 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 Southern Copper Corporation has 13140 total employees across all of its locations and generates $7.29 billion in sales (USD). Find the latest Financials data for Southern Copper Corporation Common Stock (SCCO) at Nasdaq.com. Shipping Information. 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) . AnnuAL REPORT 2014 for exploration, mining, concentration, smelting, refining and marketing of our products. The construction of the pilot plant is finished and the production tests have recently begun. STOCKS. Southern Copper Corp (SCCO) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018. neighboring populations of our operational areas benefit from the social programs of the company. In 2016, we expect to reach copper production of 903,300 tons, an increase of 21.6% and again a new record production. HOME; Stock Profile; Company Fundamentals; Company Financials; Company Expectations 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. Click the button below to request a report when hardcopies become available. PDF; Wheaton Precious Metals Corporation does not currently have any hardcopy reports on AnnualReports.com. 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. 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. 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. 2.1 Less: Lower depreciation, amortization and depletion expense. 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. 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. A decrease in metal prices, led by copper prices (-8.1%, LME) offset the significant contribution of the additional sales volume. Southern Copper & Supply's annual revenues are $10-$50 million (see exact revenue data) and has 10-100 employees. Raul Jacob, SCC Vice President of Finance, Treasurer and CFO, 5379998 “Southern Copper Corporation Fourth Quarter and 2019 Earnings Results”, Source: Silver – COMEX; Gold and Zinc – LME; Molybdenum – Metals Week Dealer Oxide, Southern Copper CorporationCONDENSED CONSOLIDATED STATEMENT OF EARNINGS(Unaudited), 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), Southern Copper CorporationCONDENSED CONSOLIDATED BALANCE SHEET(Unaudited). Higher depreciation, amortization...Read more, 192.7 ? The budget for Pilares is $159 million and we expect it to start production during the first half of 2022. 2019 Annual Report. Mr. German Larrea, Chairman of the Board, commenting on the Company´s progress said: “2019 was a remarkable year for Southern Copper. 2019 Total copper production reached over 1 million tons, a new milestone in the Company’s history. With the successful ramping up of our new Toquepala unit, we have completed the first stage of our growth projects, which allowed us to obtain a new annual production record for copper (993,822 tons), molybdenum (26,885 tons) and silver (20.3 million ounces). Southern Copper’s Quality Management System offers support in improving the business practices employed. Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news. 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. Raul JacobVictor Pedraglio+(602) 264-1375, February 25, 2020Southern Copper Corporation (NYSE and BVL: SCCO). Stock analysis for Southern Copper Corp (SCCO:New York) including stock price, stock chart, company news, key statistics, fundamentals and company profile. The Company operates mining units and metallurgical facilities in Mexico and Peru and conducts exploration activities in Argentina, Chile, Ecuador, Mexico and Peru. 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. Our annual copper production in 2015 was 742,993 tons, a new record. The process of bidding for the site preparation has started and the purchase orders for the major equipment has been placed. 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. 0.6 Less: Lower depreciation, amortization and depletion expense. Table of Contents Southern Copper Corporation (“SCC”) 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). Annual and quarterly financial reports, income statements and balance sheets for Southern Copper Corp (SCCO) on MSN Money. Currently we have a portfolio of $2.8 billion approved projects in Peru, of which we have already invested $1.6 billion. 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. 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. 5001-10,000 Employees. 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. Finally, we reaffirm our commitment to continue focusing on generating long-term value for our shareholders with our expansion projects and cost reduction efforts. Find the latest Southern Copper Corporation (SCCO) stock quote, history, news and other vital information to help you with your stock trading and investing. Only the engineering … Archived Reports Files on this page are PDF. As of October 28, 2019 there were outstanding 773,058,869 shares of Southern Copper Corporation common stock, par value $0.01 per share. Net income margin in 4Q19 was 16.5% compared with 17.3% in 4Q18. 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%).
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