10-Q 1 scco-20220630x10q.htm 10-Q
0.561.211.572.197731000007731000007731000007731000000.10.1SOUTHERN COPPER CORP/0001001838--12-312022Q2falseP3YP3Y0001001838srt:ParentCompanyMember2022-06-300001001838srt:ParentCompanyMember2021-12-3100010018382008-12-310001001838srt:ParentCompanyMemberus-gaap:TreasuryStockMember2022-01-012022-06-300001001838srt:ParentCompanyMemberus-gaap:TreasuryStockMember2021-04-012021-06-300001001838srt:ParentCompanyMemberus-gaap:TreasuryStockMember2021-01-012021-06-300001001838us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300001001838us-gaap:AdditionalPaidInCapitalMember2022-01-012022-06-300001001838us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001001838us-gaap:AdditionalPaidInCapitalMember2021-01-012021-06-300001001838srt:ParentCompanyMemberus-gaap:TreasuryStockMember2022-06-300001001838scco:HoldingCompanyMemberus-gaap:TreasuryStockMember2022-06-300001001838us-gaap:TreasuryStockMember2022-06-300001001838us-gaap:RetainedEarningsMember2022-06-300001001838us-gaap:ParentMember2022-06-300001001838us-gaap:NoncontrollingInterestMember2022-06-300001001838us-gaap:CommonStockMember2022-06-300001001838us-gaap:AdditionalPaidInCapitalMember2022-06-300001001838us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300001001838srt:ParentCompanyMemberus-gaap:TreasuryStockMember2022-03-310001001838scco:HoldingCompanyMemberus-gaap:TreasuryStockMember2022-03-310001001838us-gaap:RetainedEarningsMember2022-03-310001001838us-gaap:ParentMember2022-03-310001001838us-gaap:NoncontrollingInterestMember2022-03-310001001838us-gaap:AdditionalPaidInCapitalMember2022-03-310001001838us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310001001838srt:ParentCompanyMemberus-gaap:TreasuryStockMember2021-12-310001001838scco:HoldingCompanyMemberus-gaap:TreasuryStockMember2021-12-310001001838us-gaap:RetainedEarningsMember2021-12-310001001838us-gaap:ParentMember2021-12-310001001838us-gaap:NoncontrollingInterestMember2021-12-310001001838us-gaap:CommonStockMember2021-12-310001001838us-gaap:AdditionalPaidInCapitalMember2021-12-310001001838us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001001838srt:ParentCompanyMemberus-gaap:TreasuryStockMember2021-06-300001001838scco:HoldingCompanyMemberus-gaap:TreasuryStockMember2021-06-300001001838us-gaap:TreasuryStockMember2021-06-300001001838us-gaap:RetainedEarningsMember2021-06-300001001838us-gaap:ParentMember2021-06-300001001838us-gaap:NoncontrollingInterestMember2021-06-300001001838us-gaap:AdditionalPaidInCapitalMember2021-06-300001001838us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001001838srt:ParentCompanyMemberus-gaap:TreasuryStockMember2021-03-310001001838scco:HoldingCompanyMemberus-gaap:TreasuryStockMember2021-03-310001001838us-gaap:RetainedEarningsMember2021-03-310001001838us-gaap:ParentMember2021-03-310001001838us-gaap:NoncontrollingInterestMember2021-03-310001001838us-gaap:CommonStockMember2021-03-310001001838us-gaap:AdditionalPaidInCapitalMember2021-03-310001001838us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310001001838srt:ParentCompanyMemberus-gaap:TreasuryStockMember2020-12-310001001838scco:HoldingCompanyMemberus-gaap:TreasuryStockMember2020-12-310001001838us-gaap:RetainedEarningsMember2020-12-310001001838us-gaap:ParentMember2020-12-310001001838us-gaap:NoncontrollingInterestMember2020-12-310001001838us-gaap:CommonStockMember2020-12-310001001838us-gaap:AdditionalPaidInCapitalMember2020-12-310001001838us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001001838scco:EmployeeStockPurchase2018PlanMember2021-12-310001001838scco:EmployeeStockPurchase2015PlanMember2021-12-310001001838scco:EmployeeStockPurchase2018PlanMember2020-12-310001001838scco:EmployeeStockPurchase2015PlanMember2020-12-310001001838scco:DirectorsStockAwardPlanMember2021-01-012021-06-300001001838scco:OtherLarreaFamilyCompaniesMember2022-01-012022-06-300001001838srt:MaximumMemberscco:OperadoraDeCinemasSDeCVMember2022-01-012022-06-300001001838srt:MaximumMemberscco:OperadoraDeCinemasSDeCVMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:ZincMemberscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:SilverMemberscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:SilverMemberscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:SilverMemberscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMemberus-gaap:ReportableSubsegmentsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MolybdenumMemberscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MolybdenumMemberscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMemberus-gaap:ReportableSubsegmentsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMemberus-gaap:ReportableSubsegmentsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMemberus-gaap:IntersubsegmentEliminationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:PEscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:PEscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:MXscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:MXscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:JPscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:JPscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:ESscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:ESscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CNscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CLscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CLscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:BRscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:BRscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838scco:CorporateAndEliminationsMemberus-gaap:IntersubsegmentEliminationsMember2022-04-012022-06-300001001838scco:CorporateAndEliminationsMemberscco:ZincMember2022-04-012022-06-300001001838scco:CorporateAndEliminationsMemberscco:SilverMember2022-04-012022-06-300001001838scco:CorporateAndEliminationsMemberscco:OtherMember2022-04-012022-06-300001001838scco:CorporateAndEliminationsMemberscco:CopperMember2022-04-012022-06-300001001838scco:CorporateAndEliminationsMembercountry:PE2022-04-012022-06-300001001838scco:CorporateAndEliminationsMembercountry:MX2022-04-012022-06-300001001838us-gaap:ReportableSubsegmentsMember2022-04-012022-06-300001001838us-gaap:IntersubsegmentEliminationsMember2022-04-012022-06-300001001838scco:ZincMember2022-04-012022-06-300001001838scco:SilverMember2022-04-012022-06-300001001838scco:OtherMember2022-04-012022-06-300001001838scco:OtherEuropeanCountriesMember2022-04-012022-06-300001001838scco:OtherAsianCountriesMember2022-04-012022-06-300001001838scco:OtherAmericanCountriesMember2022-04-012022-06-300001001838scco:MolybdenumMember2022-04-012022-06-300001001838scco:CopperMember2022-04-012022-06-300001001838country:US2022-04-012022-06-300001001838country:SG2022-04-012022-06-300001001838country:PE2022-04-012022-06-300001001838country:MX2022-04-012022-06-300001001838country:JP2022-04-012022-06-300001001838country:IT2022-04-012022-06-300001001838country:ES2022-04-012022-06-300001001838country:CN2022-04-012022-06-300001001838country:CL2022-04-012022-06-300001001838country:CH2022-04-012022-06-300001001838country:BR2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:ZincMemberscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:SilverMemberscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:SilverMemberscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:SilverMemberscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMemberus-gaap:ReportableSubsegmentsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MolybdenumMemberscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MolybdenumMemberscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMemberus-gaap:ReportableSubsegmentsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMemberus-gaap:ReportableSubsegmentsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMemberus-gaap:IntersubsegmentEliminationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:PEscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:PEscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:MXscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:MXscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:JPscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:JPscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:ESscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:ESscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CNscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CLscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CLscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:BRscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMembercountry:BRscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838scco:CorporateAndEliminationsMemberus-gaap:IntersubsegmentEliminationsMember2022-01-012022-06-300001001838scco:CorporateAndEliminationsMemberscco:ZincMember2022-01-012022-06-300001001838scco:CorporateAndEliminationsMemberscco:SilverMember2022-01-012022-06-300001001838scco:CorporateAndEliminationsMemberscco:OtherMember2022-01-012022-06-300001001838scco:CorporateAndEliminationsMemberscco:CopperMember2022-01-012022-06-300001001838scco:CorporateAndEliminationsMembercountry:PE2022-01-012022-06-300001001838scco:CorporateAndEliminationsMembercountry:MX2022-01-012022-06-300001001838us-gaap:ReportableSubsegmentsMember2022-01-012022-06-300001001838us-gaap:IntersubsegmentEliminationsMember2022-01-012022-06-300001001838scco:ZincMember2022-01-012022-06-300001001838scco:SilverMember2022-01-012022-06-300001001838scco:OtherMember2022-01-012022-06-300001001838scco:OtherEuropeanCountriesMember2022-01-012022-06-300001001838scco:OtherAsianCountriesMember2022-01-012022-06-300001001838scco:OtherAmericanCountriesMember2022-01-012022-06-300001001838scco:MolybdenumMember2022-01-012022-06-300001001838scco:CopperMember2022-01-012022-06-300001001838country:US2022-01-012022-06-300001001838country:SG2022-01-012022-06-300001001838country:JP2022-01-012022-06-300001001838country:IT2022-01-012022-06-300001001838country:ES2022-01-012022-06-300001001838country:CN2022-01-012022-06-300001001838country:CL2022-01-012022-06-300001001838country:CH2022-01-012022-06-300001001838country:BR2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:ZincMemberscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:ZincMemberscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:ZincMemberscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:SilverMemberscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMemberus-gaap:ReportableSubsegmentsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MolybdenumMemberscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MolybdenumMemberscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMemberus-gaap:ReportableSubsegmentsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMemberus-gaap:ReportableSubsegmentsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMemberus-gaap:IntersubsegmentEliminationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:PEscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:PEscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:MXscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:MXscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:JPscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:JPscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:ESscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:ESscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CNscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CLscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CLscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:BRscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:BRscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838scco:CorporateAndEliminationsMemberus-gaap:IntersubsegmentEliminationsMember2021-04-012021-06-300001001838scco:CorporateAndEliminationsMemberscco:ZincMember2021-04-012021-06-300001001838scco:CorporateAndEliminationsMemberscco:OtherMember2021-04-012021-06-300001001838scco:CorporateAndEliminationsMemberscco:CopperMember2021-04-012021-06-300001001838scco:CorporateAndEliminationsMembercountry:MX2021-04-012021-06-300001001838us-gaap:ReportableSubsegmentsMember2021-04-012021-06-300001001838scco:ZincMember2021-04-012021-06-300001001838scco:SilverMember2021-04-012021-06-300001001838scco:OtherMember2021-04-012021-06-300001001838scco:OtherEuropeanCountriesMember2021-04-012021-06-300001001838scco:OtherAsianCountriesMember2021-04-012021-06-300001001838scco:OtherAmericanCountriesMember2021-04-012021-06-300001001838scco:MolybdenumMember2021-04-012021-06-300001001838scco:CopperMember2021-04-012021-06-300001001838country:US2021-04-012021-06-300001001838country:SG2021-04-012021-06-300001001838country:PE2021-04-012021-06-300001001838country:MX2021-04-012021-06-300001001838country:JP2021-04-012021-06-300001001838country:IT2021-04-012021-06-300001001838country:ES2021-04-012021-06-300001001838country:CN2021-04-012021-06-300001001838country:CL2021-04-012021-06-300001001838country:CH2021-04-012021-06-300001001838country:BR2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:ZincMemberscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:ZincMemberscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:ZincMemberscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:SilverMemberscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMemberus-gaap:ReportableSubsegmentsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherMemberscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherEuropeanCountriesMemberscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAsianCountriesMemberscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:OtherAmericanCountriesMemberscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MolybdenumMemberscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MolybdenumMemberscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMemberus-gaap:ReportableSubsegmentsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMemberus-gaap:ReportableSubsegmentsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMemberus-gaap:IntersubsegmentEliminationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:CopperMemberscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:USscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:SGscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:PEscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:PEscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:MXscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:MXscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:JPscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:JPscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:ITscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:ESscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:ESscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CNscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CLscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CLscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:CHscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:BRscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMembercountry:BRscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838scco:CorporateAndEliminationsMemberus-gaap:IntersubsegmentEliminationsMember2021-01-012021-06-300001001838scco:CorporateAndEliminationsMemberscco:ZincMember2021-01-012021-06-300001001838scco:CorporateAndEliminationsMemberscco:SilverMember2021-01-012021-06-300001001838scco:CorporateAndEliminationsMemberscco:OtherMember2021-01-012021-06-300001001838scco:CorporateAndEliminationsMemberscco:CopperMember2021-01-012021-06-300001001838scco:CorporateAndEliminationsMembercountry:MX2021-01-012021-06-300001001838us-gaap:ReportableSubsegmentsMember2021-01-012021-06-300001001838scco:ZincMember2021-01-012021-06-300001001838scco:SilverMember2021-01-012021-06-300001001838scco:OtherMember2021-01-012021-06-300001001838scco:OtherEuropeanCountriesMember2021-01-012021-06-300001001838scco:OtherAsianCountriesMember2021-01-012021-06-300001001838scco:OtherAmericanCountriesMember2021-01-012021-06-300001001838scco:MolybdenumMember2021-01-012021-06-300001001838scco:CopperMember2021-01-012021-06-300001001838country:US2021-01-012021-06-300001001838country:SG2021-01-012021-06-300001001838country:JP2021-01-012021-06-300001001838country:IT2021-01-012021-06-300001001838country:ES2021-01-012021-06-300001001838country:CN2021-01-012021-06-300001001838country:CL2021-01-012021-06-300001001838country:CH2021-01-012021-06-300001001838country:BR2021-01-012021-06-300001001838scco:OperadoraDeCinemasSDeCVMember2022-01-012022-06-300001001838scco:MexicoTransportesAereosSADeCVMember2022-01-012022-06-300001001838scco:MexicoProyectosYDesarrollosSaDeCvAndAffiliatesMember2022-01-012022-06-300001001838scco:MexicoGeneradoraDeEnergiaSDeRLMember2022-01-012022-06-300001001838scco:GrupoMexicoServiciosSBDeCVAndAffiliatesMember2022-01-012022-06-300001001838scco:GrupoMexicoSABDeCVMember2022-01-012022-06-300001001838scco:FerrocarrilMexicanoSADeCVMember2022-01-012022-06-300001001838scco:ControladoraDeInfraestructuraEnergeticaMexicoSADeCVMember2022-01-012022-06-300001001838scco:BoutiqueBowlingDeMexicoSDeCVMember2022-01-012022-06-300001001838scco:AsarcoMember2022-01-012022-06-300001001838scco:AmmincoApoyoAdministrativoS.a.DeC.v.Member2022-01-012022-06-300001001838scco:PeruMiningExplorationAndDevelopmentCompanyMember2021-01-012021-06-300001001838scco:OperadoraDeCinemasSDeCVMember2021-01-012021-06-300001001838scco:MexicoTransportesAereosSADeCVMember2021-01-012021-06-300001001838scco:MexicoProyectosYDesarrollosSaDeCvAndAffiliatesMember2021-01-012021-06-300001001838scco:MexicoGeneradoraDeEnergiaSDeRLMember2021-01-012021-06-300001001838scco:IntermodalMexicoS.a.DeC.v.Member2021-01-012021-06-300001001838scco:GrupoMexicoServiciosSBDeCVAndAffiliatesMember2021-01-012021-06-300001001838scco:GrupoMexicoSABDeCVMember2021-01-012021-06-300001001838scco:FerrocarrilMexicanoSADeCVMember2021-01-012021-06-300001001838scco:BoutiqueBowlingDeMexicoSDeCVMember2021-01-012021-06-300001001838scco:AsarcoMember2021-01-012021-06-300001001838scco:MolybdenumMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001001838scco:MolybdenumMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001001838scco:CopperMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001001838scco:CopperMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001001838scco:MolybdenumMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001001838scco:MolybdenumMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001001838scco:CopperMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001001838scco:CopperMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001001838us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300001001838us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300001001838us-gaap:SellingGeneralAndAdministrativeExpensesMember2022-01-012022-06-300001001838us-gaap:CostOfSalesMember2022-01-012022-06-300001001838scco:ExplorationExpenseMember2022-01-012022-06-300001001838us-gaap:SellingGeneralAndAdministrativeExpensesMember2021-01-012021-06-300001001838us-gaap:CostOfSalesMember2021-01-012021-06-300001001838scco:ExplorationExpenseMember2021-01-012021-06-300001001838scco:BuenavistaDelCobreSaDeCVMember2022-06-300001001838us-gaap:FairValueInputsLevel2Member2022-06-300001001838us-gaap:FairValueInputsLevel1Member2022-06-300001001838us-gaap:FairValueInputsLevel2Member2021-12-310001001838us-gaap:FairValueInputsLevel1Member2021-12-310001001838srt:MaximumMember2022-04-012022-06-300001001838srt:MaximumMember2021-04-012021-06-300001001838srt:MaximumMember2021-01-012021-06-3000010018382022-01-310001001838scco:CompaniaMineraCoimolacheSAMember2022-06-300001001838scco:ApuCoropunaS.r.l.Member2022-06-300001001838scco:EmployeeStockPurchase2018PlanMember2022-06-300001001838scco:EmployeeStockPurchase2015PlanMember2022-06-300001001838scco:EmployeeStockPurchase2018PlanMember2021-06-300001001838scco:EmployeeStockPurchase2015PlanMember2021-06-300001001838scco:MexicoCompaniaConstructoraSaDeCVMember2022-06-300001001838scco:GrupoMexicoServiciosSBDeCVAndAffiliatesMember2022-06-300001001838scco:FerrocarrilMexicanoSADeCVMember2022-06-300001001838scco:EolicaElRetiroMember2022-06-300001001838scco:AmmincoApoyoAdministrativoS.a.DeC.v.Member2022-06-300001001838scco:OperadoraDeCinemasSDeCVMember2021-12-310001001838scco:MexicoTransportesAereosSADeCVMember2021-12-310001001838scco:MexicoCompaniaConstructoraSaDeCVMember2021-12-310001001838scco:GrupoMexicoServiciosSBDeCVAndAffiliatesMember2021-12-310001001838scco:FerrocarrilMexicanoSADeCVMember2021-12-310001001838scco:EolicaElRetiroMember2021-12-310001001838scco:AmmincoApoyoAdministrativoS.a.DeC.v.Member2021-12-310001001838scco:OperadoraDeCinemasSDeCVMember2022-06-300001001838scco:MexicoTransportesAereosSADeCVMember2022-06-300001001838scco:MexicoGeneradoraDeEnergiaSDeRLMember2022-06-300001001838scco:GrupoMexicoServiciosDeIngenieriaS.a.DeC.v.Member2022-06-300001001838scco:CompaniaPerforadoraMexicoSAPIDeCVMember2022-06-300001001838scco:BoutiqueBowlingDeMexicoSDeCVMember2022-06-300001001838scco:AsarcoMember2022-06-300001001838scco:MexicoGeneradoraDeEnergiaSDeRLMember2021-12-310001001838scco:GrupoMexicoServiciosDeIngenieriaS.a.DeC.v.Member2021-12-310001001838scco:CorporateAndEliminationsMember2021-12-310001001838scco:CompaniaPerforadoraMexicoSAPIDeCVMember2021-12-310001001838scco:BoutiqueBowlingDeMexicoSDeCVMember2021-12-310001001838scco:AsarcoMember2021-12-310001001838scco:AmericasMiningCorporationMember2021-12-310001001838us-gaap:RetainedEarningsMember2022-04-012022-06-300001001838us-gaap:NoncontrollingInterestMember2022-04-012022-06-300001001838us-gaap:RetainedEarningsMember2022-01-012022-06-300001001838us-gaap:NoncontrollingInterestMember2022-01-012022-06-300001001838us-gaap:RetainedEarningsMember2021-04-012021-06-300001001838us-gaap:NoncontrollingInterestMember2021-04-012021-06-300001001838us-gaap:RetainedEarningsMember2021-01-012021-06-300001001838us-gaap:NoncontrollingInterestMember2021-01-012021-06-300001001838srt:NaturalGasPerThousandCubicFeetMemberus-gaap:SwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-03-310001001838srt:NaturalGasPerThousandCubicFeetMemberus-gaap:CallOptionMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-03-310001001838us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-06-300001001838scco:DefinedBenefitPostretirementHealthCarePlanMember2022-01-012022-06-300001001838us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-06-300001001838scco:DefinedBenefitPostretirementHealthCarePlanMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMember2022-04-012022-06-300001001838scco:CorporateAndEliminationsMember2022-04-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMember2022-01-012022-06-300001001838scco:CorporateAndEliminationsMember2022-01-012022-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMember2021-04-012021-06-300001001838scco:CorporateAndEliminationsMember2021-04-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMember2021-01-012021-06-300001001838scco:CorporateAndEliminationsMember2021-01-012021-06-300001001838us-gaap:SubsequentEventMember2022-07-212022-07-2100010018382022-03-3100010018382021-03-310001001838us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001001838us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001001838us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2022-06-300001001838us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2022-06-300001001838us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2022-06-300001001838us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2022-06-300001001838us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310001001838us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-12-310001001838us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-12-310001001838us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-12-310001001838us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001001838us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001001838us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001001838us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001001838scco:CorporateAndEliminationsMember2022-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMember2021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMember2021-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMember2021-06-300001001838scco:CorporateAndEliminationsMember2021-06-300001001838country:MX2022-01-012022-03-3100010018382019-01-012019-12-3100010018382021-06-3000010018382020-12-310001001838scco:EmployeeStockPurchase2018PlanMember2021-01-012021-06-300001001838scco:EmployeeStockPurchase2015PlanMember2021-01-012021-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMember2022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMember2022-06-300001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMember2022-06-300001001838us-gaap:OperatingSegmentsMemberscco:PeruvianOperationsMember2021-12-310001001838us-gaap:OperatingSegmentsMemberscco:MexicanOpenPitMember2021-12-310001001838us-gaap:OperatingSegmentsMemberscco:MexicanIMMSAUnitMember2021-12-310001001838scco:MarineTerminalInGuaymasMember2022-01-012022-06-300001001838scco:MarineTerminalInGuaymasMember2019-07-092019-07-090001001838scco:HoldingCompanyMemberus-gaap:TreasuryStockMember2022-04-012022-06-300001001838scco:HoldingCompanyMemberus-gaap:TreasuryStockMember2022-01-012022-06-300001001838scco:HoldingCompanyMemberus-gaap:TreasuryStockMember2021-04-012021-06-300001001838scco:HoldingCompanyMemberus-gaap:TreasuryStockMember2021-01-012021-06-300001001838srt:MinimumMembercountry:PEscco:LaborMattersMember2021-01-012021-12-310001001838srt:MaximumMembercountry:PEscco:LaborMattersMember2021-01-012021-12-310001001838scco:DirectorsStockAwardPlanMember2022-06-300001001838scco:DirectorsStockAwardPlanMember2021-12-310001001838scco:DirectorsStockAwardPlanMember2021-06-300001001838scco:DirectorsStockAwardPlanMember2020-12-310001001838scco:EmployeeStockPurchase2018PlanMember2018-11-012018-11-300001001838scco:EmployeeStockPurchase2015PlanMember2015-01-012015-01-310001001838scco:DirectorsStockAwardPlanMember2022-01-012022-06-300001001838scco:EmployeeStockPurchase2018PlanMember2022-01-012022-06-300001001838scco:EmployeeStockPurchase2015PlanMember2022-01-012022-06-300001001838country:PE2021-01-012021-06-300001001838scco:MichiquillayMemberscco:CopperMembercountry:PE2021-06-300001001838country:MXscco:MexicoGeneradoraDeEnergiaSDeRLMember2022-01-012022-06-300001001838scco:EolicaElRetiroMember2022-01-012022-06-300001001838country:MXscco:MexicoGeneradoraDeEnergiaSDeRLMember2021-01-012021-06-300001001838scco:EolicaElRetiroMember2021-01-012021-06-300001001838scco:SanMartinMembercountry:MX2022-06-300001001838scco:MolybdenumMember2022-06-300001001838scco:CopperMember2022-06-300001001838scco:July2022ThroughSeptember2022Memberscco:MolybdenumMember2022-01-012022-06-300001001838scco:July2022ThroughNovember2022Memberscco:CopperMember2022-01-012022-06-300001001838scco:TiaMariaMembercountry:PE2022-01-012022-06-300001001838scco:ParqueEolicoDeFeniciasS.DeR.l.DeC.vMembercountry:MXscco:PowerPurchaseAgreementMember2020-02-202020-02-200001001838scco:KallpaGeneracionSaMembersrt:MaximumMembercountry:PEscco:PowerPurchaseAgreementMember2016-05-012016-05-310001001838scco:KallpaGeneracionSaMembercountry:PEscco:PowerPurchaseAgreementMember2014-07-012014-07-310001001838scco:ElectroperuSaMembercountry:PEscco:PowerPurchaseAgreementMember2014-06-012014-06-300001001838country:PEscco:LaborMattersMember2022-06-300001001838scco:EolicaElRetiroMember2014-08-040001001838scco:MarineTerminalInGuaymasMember2019-07-192019-07-1900010018382015-12-310001001838scco:New2021GrantMember2022-01-012022-06-300001001838country:MXscco:MexicoGeneradoraDeEnergiaSDeRLMember2012-01-012012-12-310001001838scco:MariaelenaherediabustamanteetalmartineligioortizgamezetalandmariadelosangelesenriquezbacameetalMembercountry:MX2022-01-012022-06-300001001838scco:IloAndCuajoneMember2022-02-282022-02-280001001838scco:DefensaColectivaMember2022-01-012022-06-300001001838scco:AccionesColectivasDeSinaloaMember2022-01-012022-06-300001001838scco:TiaMariaMember2022-01-012022-06-300001001838country:PEscco:LaborMattersMember2022-01-012022-06-300001001838scco:TiaMariaMembercountry:PEscco:EducationalProjectMember2022-01-012022-06-3000010018382015-01-012015-12-310001001838scco:TiaMariaMembercountry:PE2019-07-152019-07-1500010018382015-01-012015-06-300001001838scco:BuenavistaDelCobreSaDeCVMember2018-12-3100010018382017-12-310001001838scco:BuenavistaDelCobreSaDeCVMember2016-12-310001001838scco:BuenavistaDelCobreSaDeCVMember2015-12-310001001838scco:NorbertoBustamanteEtAlMember2018-01-012018-12-310001001838scco:MariaelenaherediabustamanteetalmartineligioortizgamezetalandmariadelosangelesenriquezbacameetalMember2016-07-012016-09-300001001838scco:FranciscaGarciaEnriquezMember2015-01-012015-12-310001001838scco:July2022ThroughSeptember2022Memberscco:MolybdenumMember2022-06-300001001838scco:July2022ThroughNovember2022Memberscco:CopperMember2022-06-300001001838country:MX2022-01-012022-06-300001001838country:MX2021-01-012021-06-300001001838scco:ClimateChangeMember2022-01-012022-06-300001001838srt:MinimumMemberscco:ClimateChangeMember2022-01-012022-06-300001001838srt:MaximumMemberscco:ClimateChangeMember2022-01-012022-06-300001001838country:MX2011-01-012011-12-3100010018382019-06-242019-06-240001001838scco:SulfuricAcidMember2022-01-012022-06-300001001838scco:MolybdenumConcentratesMember2022-01-012022-06-300001001838scco:CopperConcentratesMember2022-01-012022-06-300001001838scco:CopperCathodesMember2022-01-012022-06-300001001838srt:MinimumMember2022-01-012022-06-300001001838srt:MaximumMember2022-01-012022-06-300001001838scco:MichiquillayMember2022-06-300001001838scco:MichiquillayMember2022-06-012022-06-300001001838scco:IloAndCuajoneMember2022-01-012022-06-300001001838scco:IloAndCuajoneMemberscco:MolybdenumMember2022-06-300001001838scco:IloAndCuajoneMemberscco:CopperMember2022-06-300001001838srt:MaximumMemberscco:OperadoraDeCinemasSDeCVMember2021-12-310001001838scco:GrupoMexicoSABDeCVAndAffiliatesMember2022-01-012022-06-300001001838scco:GrupoMexicoSABDeCVAndAffiliatesMember2021-01-012021-06-300001001838srt:NaturalGasPerThousandCubicFeetMemberus-gaap:SwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-03-310001001838srt:NaturalGasPerThousandCubicFeetMemberus-gaap:SwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-11-012022-03-310001001838srt:NaturalGasPerThousandCubicFeetMemberus-gaap:CallOptionMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-11-012022-03-310001001838srt:NaturalGasPerThousandCubicFeetMemberus-gaap:CallOptionMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-03-3100010018382022-04-012022-06-3000010018382021-04-012021-06-3000010018382021-01-012021-06-300001001838scco:MichiquillayMemberscco:CopperMembercountry:PE2021-06-012021-06-300001001838scco:MichiquillayMemberscco:CopperMembercountry:PE2018-06-300001001838scco:IloAndCuajoneMember2022-02-2800010018382021-01-012021-12-310001001838country:PE2022-01-012022-06-300001001838scco:TiaMariaMembercountry:PE2019-07-082019-07-080001001838scco:MichiquillayMemberscco:CopperMembercountry:PE2018-06-012018-06-300001001838scco:TiaMariaMembercountry:PE2022-06-300001001838scco:ToquepalaConcentratorExpansionMembercountry:PEscco:SocialInvestmentForTaxesMember2022-01-012022-06-300001001838scco:ToquepalaConcentratorExpansionMembercountry:PEscco:StudyOfEngineeringForCollazasDamMember2022-01-012022-06-300001001838scco:ToquepalaConcentratorExpansionMembercountry:PEscco:EducationalProjectMember2022-01-012022-06-300001001838scco:ToquepalaConcentratorExpansionMembercountry:PEscco:ConstructionOfCularjahuiraDamMember2022-01-012022-06-300001001838scco:DevelopmentFundMoqueguaRegionMembercountry:PEscco:WaterTreatmentMember2022-01-012022-06-300001001838scco:DevelopmentFundMoqueguaRegionMembercountry:PEscco:SocialInvestmentForTaxesMember2022-01-012022-06-300001001838scco:DevelopmentFundMoqueguaRegionMembercountry:PEscco:EducationalProjectMember2022-01-012022-06-300001001838scco:ToquepalaConcentratorExpansionMembercountry:PE2022-01-012022-06-300001001838scco:DevelopmentFundMoqueguaRegionMembercountry:PE2022-01-012022-06-300001001838country:PEscco:LaborMattersMember2021-12-310001001838country:PEscco:LaborMattersMember2021-01-012021-12-3100010018382022-06-3000010018382021-12-3100010018382022-07-2700010018382022-01-012022-06-30utr:lbscco:lawsuitscco:categoryscco:complaintscco:communityutr:MWutr:MWhiso4217:MXNxbrli:sharesiso4217:USDxbrli:sharesscco:employeexbrli:sharesutr:m3scco:segmentiso4217:USDscco:itemiso4217:PENutr:Txbrli:purescco:planiso4217:USDscco:itemscco:person

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: June 30, 2022

or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from        to        

Commission File Number: 1-14066

Graphic

SOUTHERN COPPER CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

    

13-3849074

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

7310 North 16th St, Suite 135 Phoenix, AZ

85020

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (602) 264-1375

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

    

Trading Symbol

    

Name of each exchange on which registered:

Common stock, par value $0.01 per share

SCCO

New York Stock Exchange

Lima Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

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 revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No

As of July 27, 2022 there were outstanding 773,092,469 shares of Southern Copper Corporation common stock, par value $0.01 per share.

Southern Copper Corporation (“SCC”)

INDEX TO FORM 10-Q

    

    

Page No.

Part I. Financial Information:

Item 1.

Condensed Consolidated Financial Statements (Unaudited)

3

Condensed Consolidated Statements of Earnings for the three and six months ended June 30, 2022 and 2021

3

Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2022 and 2021

4

Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021

5

Condensed Consolidated Statements of Cash Flows for the three and six months ended June 30, 2022 and 2021

6

Condensed Consolidated Statements of Changes in Equity for the three and six months ended June 30, 2022 and 2021

7

Notes to Condensed Consolidated Financial Statements

8-37

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

38-59

Item 3.

Quantitative and Qualitative Disclosure about Market Risk

60-62

Item 4.

Controls and procedures

62

Report of Independent Registered Public Accounting Firm

63

Part II. Other Information:

Item 1.

Legal Proceedings

64

Item 1A.

Risk Factors

64

Item 2.

Unregistered Sale of Equity Securities and Use of Proceeds

65

Item 4.

Mine Safety Disclosures

65

Item 6.

List of Exhibits

66-69

Signatures

70

2

PART I — FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

Southern Copper Corporation

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(Unaudited)

    

Three Months Ended

Six Months Ended

June 30, 

June 30, 

2022

2021

    

2022

    

2021

(in millions, except for per share amounts) 

Net sales (including sales to related parties, see note 5)

$

2,306.9

$

2,897.0

$

5,070.7

$

5,429.5

Operating cost and expenses:

Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)

 

1,246.7

 

985.5

 

2,304.4

 

1,929.3

Selling, general and administrative

 

30.9

 

31.4

 

61.2

 

61.6

Depreciation, amortization and depletion

 

209.0

 

195.4

 

405.6

 

396.0

Exploration

 

11.8

 

9.5

 

20.9

 

15.8

Total operating costs and expenses

 

1,498.4

 

1,221.8

 

2,792.1

 

2,402.7

Operating income

 

808.5

 

1,675.2

 

2,278.6

 

3,026.8

Interest expense

 

(96.6)

 

(96.6)

 

(195.1)

 

(193.4)

Capitalized interest

 

11.4

 

7.3

 

22.1

 

14.5

Other income (expense)

 

3.9

 

(8.2)

 

15.7

 

(5.9)

Interest income

 

4.3

 

1.3

 

8.9

 

3.7

Income before income taxes

 

731.5

 

1,579.0

 

2,130.2

 

2,845.7

Income taxes (including royalty taxes, see Note 4)

 

296.4

 

647.7

 

908.5

 

1,155.2

Net income before equity earnings of affiliate

 

435.1

 

931.3

 

1,221.7

 

1,690.5

Equity earnings (loss) of affiliate, net of income tax

 

(0.9)

 

5.1

 

0.4

 

13.1

Net income

 

434.2

 

936.4

 

1,222.1

 

1,703.6

Less: Net income attributable to the non-controlling interest

 

1.9

 

3.7

5.0

 

7.0

Net income attributable to SCC

$

432.3

$

932.7

$

1,217.1

$

1,696.6

Per common share amounts attributable to SCC:

Net earnings-basic and diluted

$

0.56

$

1.21

$

1.57

$

2.19

Weighted average shares outstanding-basic and diluted

 

773.1

 

773.1

 

773.1

 

773.1

The accompanying notes are an integral part of these condensed consolidated financial statements.

3

Southern Copper Corporation

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

    

Three Months Ended

Six Months Ended

June 30, 

June 30, 

    

2022

    

2021

    

2022

    

2021

(in millions)

COMPREHENSIVE INCOME:

Net income and comprehensive income

$

434.2

$

936.4

$

1,222.1

$

1,703.6

Other comprehensive income (loss) net of tax:

- Unrealized gain (loss) on derivative instruments classified as cash flow hedge (net of income tax of $0.2 million in 2022)

(0.6)

Total other comprehensive income (loss)

 

 

(0.6)

Total comprehensive income

 

434.2

936.4

 

1,221.5

 

1,703.6

Comprehensive income attributable to the non-controlling interest

 

1.9

3.7

5.0

 

7.0

Comprehensive income attributable to SCC

$

432.3

$

932.7

$

1,216.5

$

1,696.6

The accompanying notes are an integral part of these condensed consolidated financial statements.

4

Southern Copper Corporation

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

June 30, 

December 31, 

    

2022

    

2021

(in millions)

ASSETS

Current assets:

Cash and cash equivalents

$

2,113.1

$

3,002.0

Short-term investments

 

242.6

 

486.9

Accounts receivable trade

 

1,064.6

 

1,358.7

Accounts receivable other (including related parties 2022- $45.9 and 2021 - $49.1)

 

81.8

 

87.9

Inventories

 

1,071.6

 

972.9

Prepaid taxes

376.5

197.7

Other current assets

 

18.6

 

33.5

Total current assets

 

4,968.8

 

6,139.6

Property and mine development, net

 

9,521.8

 

9,464.4

Ore stockpiles on leach pads

 

1,087.7

 

1,097.6

Intangible assets, net

 

135.1

 

138.1

Right-of-use assets

 

883.7

 

916.3

Deferred income tax

 

284.3

 

316.2

Equity method investment

 

115.8

 

115.4

Other non-current assets

 

124.3

 

110.0

Total assets

$

17,121.5

$

18,297.6

LIABILITIES

Current liabilities:

Current portion of long-term debt

$

299.9

$

299.7

Accounts payable (including related parties 2022- $142.1 and 2021- $103.3)

671.5

591.9

Accrued income taxes

 

166.0

 

832.6

Accrued workers’ participation

 

153.5

 

325.7

Accrued interest

 

98.6

 

98.6

Lease liabilities current

75.9

73.9

Other accrued liabilities

 

43.0

 

27.6

Total current liabilities

 

1,508.4

 

2,250.0

Long-term debt

 

6,249.5

 

6,247.9

Lease liabilities

807.8

842.4

Deferred income taxes

 

119.0

 

118.3

Non-current taxes payable

55.4

Other liabilities and reserves

 

78.8

 

68.3

Asset retirement obligation

 

615.6

 

562.9

Total non-current liabilities

 

7,926.1

 

7,839.8

Commitments and contingencies (Note 10)

STOCKHOLDERS’ EQUITY (NOTE 11)

Common stock par value $0.01; shares authorized, 2022 and 2021–2,000; shares issued, 2022 and 2021–884.6

 

8.8

 

8.8

Additional paid-in capital

 

3,472.7

 

3,454.1

Retained earnings

 

7,247.3

 

7,769.7

Accumulated other comprehensive income

 

(10.1)

 

(9.4)

Treasury stock, at cost, common shares

 

(3,091.5)

 

(3,074.0)

Total Southern Copper Corporation stockholders’ equity

 

7,627.2

 

8,149.2

Non-controlling interest

 

59.8

 

58.6

Total equity

 

7,687.0

 

8,207.8

Total liabilities and equity

$

17,121.5

$

18,297.6

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

Southern Copper Corporation

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

    

Three Months Ended

    

Six Months Ended

    

June 30, 

June 30, 

2022

2021

2022

2021

(in millions)

OPERATING ACTIVITIES

Net income

$

434.2

$

936.4

$

1,222.1

$

1,703.6

Adjustments to reconcile net earnings to net cash provided from operating activities:

Depreciation, amortization and depletion

 

209.0

 

195.4

 

405.6

 

396.0

Equity earnings of affiliate, net of dividends received

 

0.9

 

(5.1)

 

(0.4)

(9.1)

Loss (gain) on foreign currency transaction effect

 

(3.9)

 

6.3

 

51.8

(13.4)

Provision (benefit) for deferred income taxes

 

(11.8)

 

42.1

 

31.9

3.2

Other, net

 

7.8

 

5.2

 

17.4

11.9

Change in operating assets and liabilities:

Decrease (increase) in accounts receivable

 

121.2

 

(203.4)

 

294.1

(366.7)

Decrease (increase) in inventories

 

(47.3)

 

(37.1)

 

(88.8)

1.1

(Decrease) increase in accounts payable and accrued liabilities

 

(218.7)

 

78.5

 

(743.7)

77.2

(Increase) decrease in other operating assets and liabilities

 

(181.5)

 

43.2

 

(59.4)

40.4

Net cash provided by operating activities

 

309.9

 

1,061.5

 

1,130.6

 

1,844.2

INVESTING ACTIVITIES

Capital expenditures

 

(224.6)

 

(219.8)

 

(429.7)

 

(452.4)

Proceeds from (purchase) sale of short-term investments, net

 

163.9

 

(129.9)

 

244.2

 

(135.0)

Other

 

0.1

(10.4)

 

(10.5)

Net cash used in investing activities

 

(60.6)

 

(360.1)

 

(185.5)

 

(597.9)

FINANCING ACTIVITIES

Cash dividends paid to common stockholders

 

(966.4)

 

(541.1)

(1,739.5)

 

(1,005.0)

Other, net

 

(2.0)

 

(1.4)

 

(3.7)

 

(2.7)

Net cash used in financing activities

 

(968.4)

 

(542.5)

 

(1,743.2)

 

(1,007.7)

Effect of exchange rate changes on cash and cash equivalents

 

(15.0)

(31.9)

 

(90.8)

 

(27.9)

(Decrease) increase in cash and cash equivalents

 

(734.1)

 

127.0

 

(888.9)

 

210.7

Cash and cash equivalents, at beginning of period

 

2,847.2

 

2,267.3

 

3,002.0

 

2,183.6

Cash and cash equivalents, at end of period

$

2,113.1

$

2,394.3

$

2,113.1

$

2,394.3

The accompanying notes are an integral part of these condensed consolidated financial statements.

6

Southern Copper Corporation

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(Unaudited)

    

Three Months Ended

    

Six Months Ended

June 30, 

June 30, 

2022

2021

2022

2021

(in millions)

TOTAL EQUITY, beginning of period

$

8,220.6

$

7,578.3

$

8,207.8

$

7,276.0

STOCKHOLDERS’ EQUITY, beginning of period

 

8,160.7

 

7,525.1

 

8,149.2

 

7,224.8

CAPITAL STOCK:

Balance at beginning and end of period:

 

8.8

 

8.8

 

8.8

 

8.8

ADDITIONAL PAID-IN CAPITAL:

Balance at beginning of period

 

3,468.3

 

3,439.5

 

3,454.1

 

3,441.5

Other activity of the period

 

4.4

 

15.4

 

18.6

 

13.4

Balance at end of period

 

3,472.7

 

3,454.9

 

3,472.7

 

3,454.9

TREASURY STOCK:

Southern Copper common shares

Balance at beginning of the period

 

(2,767.1)

 

(2,767.5)

 

(2,767.2)

 

(2,767.5)

Used for corporate purposes

 

 

0.1

 

0.1

 

0.1

Balance at end of period

 

(2,767.1)

 

(2,767.4)

 

(2,767.1)

 

(2,767.4)

Parent Company common shares

Balance at beginning of period

 

(320.6)

 

(293.7)

 

(306.8)

 

(296.0)

Other activity, including dividend, interest and foreign currency transaction effect

 

(3.8)

 

(14.7)

 

(17.6)

 

(12.4)

Balance at end of period

 

(324.4)

 

(308.4)

 

(324.4)

 

(308.4)

Treasury stock balance at end of period

 

(3,091.5)

 

(3,075.8)

 

(3,091.5)

 

(3,075.8)

RETAINED EARNINGS: