Southern Copper Consolidated

Consolidated portfolio rollup for Southern Copper Corporation (SCC, 88.9%-owned by Grupo Mexico), one of the world's largest copper producers, with operations in Peru (Toquepala, Cuajone, Ilo smelter/refinery) and Mexico (Buenavista, La Caridad open pits; IMMSA underground polymetallic unit) and an active exploration program in Chile and Argentina. Multi-jurisdictional rollup - primary jurisdiction Peru; also includes Mexico. Reserves based on $3.30/lb Cu long-term price; resources at $3.80/lb Cu. Development pipeline: Tia Maria (construction, start 2027), Los Chancas (2031), Michiquillay (2032), El Arco, El Pilar; Peruvian project investments could surpass $10.3 billion over the next decade and Mexican pipeline ~$10.2 billion. 2026e: 911,400 t Cu, 26,000 t Mo, 23.7 Moz Ag, 165,500 t Zn; capex program $1,925.5M; company targets 1.6 Mt Cu by 2033.