Southern Copper Reports Record Third-Quarter Sales and Significant Cost Reductions
Southern Copper (SCCO) reported record net sales of $4.7 billion for the third quarter of 2026, representing a 39% increase. The company's financial performance was bolstered by an extraordinary reduction in net cash costs per pound, which fell to $0.01 due to significant revenue offsets from by-product credits such as molybdenum, silver, and zinc. Looking forward, the miner is focused on organic growth through major construction projects like Tia Maria in Peru and El Pilar in Mexico, which are expected to add 156,000 tons of refined copper. Management also plans to evaluate a 33% expansion of milling capacity at the Cuajone facility in Peru to increase daily throughput from 90,000 to 120,000 tons.
Topics: copper mining net sales operating costs production capacity