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Company Description

Contact Info

1440 East Missouri Avenue

Suite 160

Phoenix, AZ 85014

United States

Phone: 602-264-1375

Fax: 602-264-1397

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. The company is a majority-owned, indirect subsidiary of Grupo Mexico S.A.B. de C.V. (Grupo Mexico). As of December 31, 2015, Grupo Mexico through its wholly-owned subsidiary, Americas Mining Corporation owned 88.57% of its capital stock. Segments The company’s segments include Peruvian operations, Mexican Open-Pit operations, and Mexican underground mining operations. Peruvian Operations This segment engages in the mining, milling and flotation of copper ore to produce copper concentrates and molybdenum concentrates; the smelting of copper concentrates to produce anode copper; and the refining of anode copper to produce copper cathodes. As part of this production process, it also produces significant amounts of molybdenum concentrate. The company’s precious metals plant at the Ilo refinery produces refined silver, gold, and other materials. Additionally, it produces refined copper using solvent extraction/electrowinning technology (SX-EW). The company operates the Toquepala and Cuajone open-pit mines high in the Andes Mountains, approximately 860 kilometers southeast of the city of Lima, Peru. The company also operates a smelter and refinery west of the Toquepala and Cuajone mines in the coastal city of Ilo, Peru. This segment engages in the smelting and refining plants, including a precious metals plant, industrial railroad and port facilities that service both mines. Sales of its products are recorded as revenue of its Peruvian mines. The Peruvian operations produce copper, with production of by-products of molybdenum, silver and other materials. Mexican open-Pit Operations This segment’s operations are conducted through its subsidiary, Minera Mexico S.A. de C.V. (Minera Mexico). Minera Mexico engages primarily in the mining and processing of copper, molybdenum, zinc, silver, gold and lead. Minera Mexico operates through subsidiaries that are grouped into three separate units. Mexicana de Cobre S.A. de C.V. (together with its subsidiaries, the La Caridad unit) operates La Caridad, an open-pit copper mine, a copper ore concentrator, a SX-EW plant, a smelter, refinery and a rod plant. The La Caridad refinery has a precious metals plant, which produces refined silver, gold and other materials. Operadora de Minas e Instalaciones Mineras S.A de C.V. (the Buenavista unit) operates Buenavista, an open-pit copper mine and three SX-EW plants. The Mexican open-pit operations produce copper, with production of by-products of molybdenum, silver and other materials. Mexican Underground Mining Operations This segment includes Industrial Minera Mexico (together with its subsidiaries, the IMMSA unit) operates five underground mines that produce zinc, lead, copper, silver and gold, a coal mine and a zinc refinery. This group is identified as the IMMSA unit and sales of its products are recorded as revenue of the IMMSA unit. Principal Products and Markets The principal uses of copper arein the building and construction industries, in electrical and electronic products and, to a lesser extent, in industrial machinery and equipment, consumer products and in the automotive and transportation industries. Molybdenum is used to toughen alloy steels and soften tungsten alloy and is also used in fertilizers, dyes, enamels and reagents. Silver is used for photographic, electrical and electronic products and, to a lesser extent, in brazing alloys and solder, jewelry, coinage, silverware and catalysts. Zinc is primarily used as a coating on iron and steel to protect against corrosion. It is also used to make die cast parts, in the manufacturing of batteries and in the form of sheets for architectural purposes. Mining Rights The company has 163,079 hectares in concessions from the Peruvian government for its exploration, exploitation, extraction and production operations, at various sites. In Mexico, it has 527,144 hectares in concessions from the Mexican government for its exploration and exploitation activities. History Southern Copper Corporation was founded in 1952. The company was incorporated in Delaware in 1952.


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Valuation SCCO Industry Range
Price/Earnings 32.2x
Price/Sales 4.0x
Price/Book 3.8x
Price/Cash Flow 17.3x
TEV/Sales 2.7x

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