SOUTHERN COPPER CORPORATION (NYSE:SCCO) Files An 8-K Other Events

ME Staff 8-k

7 years ago

SOUTHERN COPPER CORPORATION (NYSE:SCCO) Files An 8-K Other EventsITEM 8.01OTHER EVENTS

On February21, 2018, Southern Copper Corporation, or SCC, announced that it had won the public bidding process for the Michiquillay project in Cajamarca, Peru for a proposed price of $400 million.

SCC indicated that Michiquillay is indisputably a world-class mining project with estimated mineral resources of 1,150 million tons and a copper grade of 0.63%, which SCC expects will produce 225,000 tons of copper per year (along with such by-products as molybdenum, gold and silver) for an initial mine life of more than 25 years. SCC estimates that the capital investment hovers around $2.5 billion. SCC expects that Michiquillay will start production in 2025 to become one of the largest copper mines in Peru.

SCC stated that it will make every effort to make it a priority to work side by side with the communities and the Government of Peru to reach a satisfactory social agreement that will lay a shared and firm foundation for the project. SCC believes that the acquisition of this new mining asset further strengthens its position as a leading copper mining company, with the world’s largest copper ore reserves, and with one of the industry’s most attractive and sustainable portfolios of growing brownfield and greenfield projects. A copy of SCC’s press release containing the announcement is filed as Exhibit99.1 to this report.

SOUTHERN COPPER CORP/ ExhibitEX-99.1 2 a18-6634_1ex99d1.htm EX-99.1 Exhibit 99.1 Investor Relations: Raul Jacob +(602) 264-1375 Rodrigo Sandoval +(5255) 1103-5350 southerncopper@southernperu.com.pe www.southerncoppercorp.com Phoenix,…To view the full exhibit click here
About SOUTHERN COPPER CORPORATION (NYSE:SCCO)
Southern Copper Corporation is an integrated copper producer. It produces copper, molybdenum, zinc and silver. It operates through three segments: Peruvian operations, which include the Toquepala and Cuajone mine complexes and the smelting and refining plants, including a metals plant industrial railroad and port facilities that service both mines; Mexican open-pit operations, which include the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a metals plant and a copper rod plant and support facilities that service both mines, and Mexican underground mining operations, which include over five underground mines that produce zinc, copper, silver and gold, a coal mine that produces coal and coke, and a zinc refinery. The Company’s operations include copper smelting, copper refining, copper rod production, solvent extraction/electrowinning, zinc refining, sulfuric acid production, molybdenum concentrate production, and silver and gold refining.