KNOW OUR HISTORY
Welcome to Southern Copper Corporation, the mining company with the largest copper reserves in the world. We want to share with you the milestones of what we consider a fascinating business history beginning in 2005, from the merger of two Companies with great vocation and mining history, who decided to form one of the most efficient, integrated and profitable mining operations.
Southern Copper has 69 years working successfully in the service of the countries where it operates, its communities, personnel and shareholders.
“THINKING BIG WAS NOT ENOUGH, WE HAD TO ACT BIG AND THAT WAS WHAT WE DID…”
JORGE LARREA, FOUNDER OF GRUPO MEXICO.
Founding of SCC
Southern Peru Copper Corporation (“SPCC”) was incorporated in the State of Delaware, United States.
Toquepala Mine in Tacna, Peru
Exploitation of the Toquepala mine in Tacna, Peru A branch was established in Peru, which signed a bilateral agreement with the Peruvian Government for the development and exploitation of the Toquepala mine in Tacna, Peru. The development works of the mine began in 1956, starting operations in 1960 with an initial production capacity of 46,000 t/day.
Ilo Smelter improvements
In 1960 the Smelter’s concentrate melting capacity reached 1,400 t/day; In addition, the railway and the industrial port were put into operation in Ilo, Moquegua, Peru. T
La Caridad Construction
It was started the construction of La Caridad, one of the largest mining-metallurgical complexes in the world.
Inauguration of the Cuajone mining complex
The Cuajone mining complex was inaugurated and began operations in 1976, with a production capacity of 58,000 t/day of milling.
Incorporation of Grupo Industrial Minera Mexico S.A. de C.V.
Grupo Industrial Minera Mexico S.A. de C.V. was established with mexican capital. La Caridad Concentrator Plant began operations in 1979, with a grinding capacity of 72,000 t/day.
New zinc refinery in San Luis Potosí
Operations began at the new San Luis Potosí zinc refinery, designed to produce 105,000 MT per year.
Moly plant in La Caridad
La Caridad molybdenum plant began operations in 1985, with a treatment capacity of 2,000 t/day.
La Caridad Smelter plant begins operations
The La Caridad smelter opened in July 1986 with a capacity of 493 t/day.
Cananea mining operation
Grupo Industrial Minera Mexico S.A. de C.V. acquires the Cananea mining operation.
Capital Investment Program
SPCC signed a Basis Agreement with the Peruvian Government and started a Capital Investment program in the amount of $445 million.
Ilo Copper Refinery
SPCC acquired the Ilo Copper Refinery from the Peruvian goverment, which by then had a production capacity of 190,000 t/year.
La Caridad began its operations
The LESDE Plant in La Caridad began operations in 1995 with a capacity of 60 t/day, while the sulfuric acid plant in Ilo started operations with a design capacity of 140,600 t/year, with the aim of reducing gas emissions and provide acid for leaching operations.
SPCC began trading its shares
SPCC began trading its common shares on the first business day of 1996, both on the New York Stock Exchange (NYSE) and the Lima Stock Exchange (BVL), under the symbol PCU, which was replaced in 2010 by SCCO to reflect the global character of Southern Copper Corporation.
Environmental Management Adaptation Program
The Environmental Management Adaptation Program (PAMA) was approved by the Peruvian government. According to it, the operations of Toquepala and Cuajone had a term of five years to adapt to what was established in the PAMA. For the Ilo smelting operation, the established term was ten years.
La Caridad refinery expansion
La Caridad refinery expanded its capacity to 932 t/day and La Caridad wire rod plant began operations with a capacity of 300 t/day.
La Caridad Wire Rod Plant expanded its capacity
In 2000, La Caridad wire rod plant expanded its production capacity to 150,000 t/year.
LESDE II Cananea plant expanded its capacity
In 2001, the LESDE II Cananea plant expanded its production capacity to 54,800 tons/year.
Modernization of the Ilo Smelter
The Ilo Smelter modernization project began with the aim of improving efficiency in copper production to capture at least 92% of SO2 emissions and smelt 1.1 million tons of copper concentrate per year.
Modernization of the copper smelter
The Company issued an additional $400 million of notes from its 30-year program, and the issue proceeds were used in its expansion programs. As part of the modernization of the copper smelter in Ilo (Peru), blister production was replaced by anode production. The sulfides capture increased from 33% to more than 92%, in accordance with the commitment made with the Peruvian Government in 1997.
Leachable deposit project completed
The project for the formation of leachable deposits with crushing and conveyor belts in Toquepala was completed, as well as the construction of new dams for PLS. SCC announced an ambitious investment program for $2,108 million, which included the development of the Tía María copper deposit (with a production capacity of 120,000 tons of SX-EW copper), the expansion of mine and concentrator operations in Cuajone and Toquepala; in addition, the current processing capacity of the smelter and refinery to treat the new production of concentrates.
SCCO is the company with the largest copper reserves in the world
Southern Copper Corporation (SCCO) becomes the company with the largest copper reserves in the world. The Company issued $1.5 billion in bonds to be used for its expansion program. The notes issued were: $400 million at 5.375% due in 2020 and $1.1 billion at 6.75% due in 2040. The Company restarted production at its Cananea operations. As a way to reflect the beginning of a new era to develop this asset to its full potential, we have changed the trade name of the company operating the Cananea property to Buenavista del Cobre (“Buenavista”). Our SX/EW plants reached full capacity in the fourth quarter.
The construction of the SX-EW III Plant is completed
Construction of the third SX-EW plant in Buenavista del Cobre with an annual nominal capacity of 120,000 tons of copper is completed.
New concentrator goes into operation
The new concentrator in Buenavista del Cobre comes into operation, with an annual copper production capacity of 188,000 tons. The program also included two molybdenum plants with a combined annual capacity of 4,600 tons.
SCCO acquires Michiquillay mining project
The Company signs a contract for the acquisition of the Michiquillay copper project in Cajamarca, Peru, at a purchase price of $400 million. Michiquillay is a world-class mining project with mineralized material estimated at 1,150 million tons and a copper grade of 0.63%. It is expected to produce 225,000 tons of copper per year over an initial mine life of more than 25 years.
Concentrator II in Toquepala begins operations
In the fourth quarter of the year, the concentrator II in Toquepala began to operate with a grinding capacity of 60,000 tons per day.
SCCO breaks the barrier of one million tons of copper
Despite the COVID-19 pandemic, Southern Copper, for the first time in its history, exceeds the barrier of one million tons of copper; reaching to produce 1,001,369 tons.