Southern Copper Business Summary

Southern Copper Corporation (SCCO) operates as a premier integrated producer of copper and precious minerals, generating revenue primarily through the extraction, smelting, and refining of copper, molybdenum, zinc, and silver. The company’s business is organized into three core reporting segments: Peruvian operations (Toquepala and Cuajone complexes), Mexican open-pit operations (including the world-class Buenavista and La Caridad mines), and Mexican underground mining operations. As of early 2026, SCCO maintains a dominant market position characterized by the industry's largest copper reserve base and a highly competitive low-cost production structure, yielding industry-leading net margins exceeding 30%. It competes directly with global mining giants such as Freeport-McMoRan, BHP, and Rio Tinto, distinguishing itself through its high degree of vertical integration and strategic focus on the Americas to meet surging demand from the global energy transition and AI infrastructure sectors. Originally established in 1952 as a joint venture between ASARCO and Newmont, the company is currently a majority-owned subsidiary of Grupo México, which holds approximately 89% of its total shares. The leadership team is anchored by Chairman Germán Larrea Mota-Velasco, a prominent industrialist who also leads Grupo México, and President and CEO Oscar Gonzalez Rocha, an experienced engineer with over 25 years of tenure at the firm. Financial operations are directed by Vice President and CFO Raúl Jacob Ruisanchez, who has overseen the company’s capital strategy since 2013. The board includes notable figures such as Enrique Castillo Sánchez Mejorada and Carlos Ruiz Sacristán, while institutional stability is reinforced by significant minority positions held by top-tier investors including BlackRock, Capital World Investors, and T. Rowe Price.