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Southern Copper Corporation (SCCO)

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  • Jan. 14, 2013, 12:48 PM
    Unionized workers at Southern Copper's (SCCO +1.5%) Peruvian operations, who had threatened earlier to go on strike this week, reportedly are instead back in contract negotiations. The workers went on strike for two days in December over salary demands and had threatened to walk out Jan. 15, but a union official says no strike is planned now.
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  • Dec. 27, 2012, 2:53 PM
    Southern Copper (SCCO) says its mine and smelter operations are operating normally after workers ended a two-day strike but provides no information about any effect on copper production. Less than half the workers at the Cuajone and Toquepala copper mines and Ilo smelter participated in the strike, SCCO says.
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  • Dec. 24, 2012, 12:10 PM
    Unionized workers at Southern Copper's (SCCO) Cuajone and Toquepala mines and its Ilo smelter and refinery in Peru go on strike to back demands for salary increases. The union says the two-day walkout is a warning to the company; if no new contract is reached, then a general, indefinite strike will start Jan. 15.
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  • Dec. 21, 2012, 12:29 PM
    Peru will help Southern Copper (SCCO) and Newmont Mining (NEM) accelerate projects delayed by community protests, local reports say. The government reportedly will set up community consultation groups as it assesses the environmental impact of SCCO’s Tia Maria project, and NEM’s Conga project will receive a boost when it completes water and irrigation projects.
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  • Dec. 14, 2012, 3:22 PM
    Workers at Southern Copper's (SCCO +1%) Cuajone and Toquepala copper mines and Ilo smelter in Peru prepare to go on strike Dec. 24 after the company refused to accept a request for a 15% annual pay rise, a union official says. SCCO, which is seeking a four-year deal, offered a 5.5% annual wage increase.
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  • Dec. 12, 2012, 12:21 PM
    Shares of Southern Copper (SCCO -0.8%) turn lower as workers at the miner's main units in Peru say they plan to go on strike after wage talks failed.
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  • Dec. 6, 2012, 12:46 PM
    Southern Copper (SCCO +0.6%) is now Citigroup's preferred America's copper exposure and is raised to Buy in tandem with a downgrade of Freeport McMoRan (FCX -4.2%). SCCO operates true Tier 1 copper assets with cheap growth potential and minimal sustaining capex requirements, the firm writes; a near-term risk is that labor contracts in Peru need to be renegotiated in 2013.
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  • Nov. 29, 2012, 9:36 AM
    Copper supply shortages will extend into the first half of next year, Barclays estimates, as an accelerating Chinese economy more than doubles the pace of growth in global consumption. Demand will outpace supply by 316K metric tons in H1, more than all copper in London Metal Exchange warehouses, before a surplus emerges in H2.
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  • Oct. 29, 2012, 12:10 AM
    Notable earnings after Monday’s close: AGNC, APC, ARCT, AUY, BIDU, CRUS, FLS, FMC, FST, GEOY, HLF, HTZ, LEG, LIFE, MAS, MNKD, OII, PMCS, SCCO, VRTX, XCO
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  • Oct. 28, 2012, 5:35 PM
    Notable earnings after Monday’s close: AGNC, APC, ARCT, AUY, BIDU, CRUS, FLS, FMC, FST, GEOY, HLF, HTZ, LEG, LIFE, MAS, MNKD, OII, PMCS, SCCO, VRTX, XCO
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  • Oct. 24, 2012, 12:38 PM
    Southern Copper (SCCO +1%) says Q3 EPS fell 67% Y/Y to $0.26, reflecting softer global copper prices and a $316M charge for legal fees. Copper mine output was 486K tons in the first nine months of 2012, up 11.2% Y/Y. Copper fundamentals are "solid," chairman German Larrea says, adding "the world economies are getting prepared for a period of growth."
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  • Oct. 22, 2012, 12:10 AM
    Notable earnings after Monday’s close: CE, CNI, DHT, HMA, SCCO, SWFT, TXN, VECO, WDC, YHOO, ZION
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  • Oct. 21, 2012, 5:35 PM
    Notable earnings after Monday’s close: CE, CNI, DHT, HMA, SCCO, SWFT, TXN, VECO, WDC, YHOO, ZION
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  • Oct. 19, 2012, 4:58 PM
    Peru's biggest miners are expected to post strong Q3 earnings, but those results could be negatively affected by lower prices for their products and higher costs. Brokerage Inteligo sees Southern Copper (SCCO) posting a near-10% drop in net income, due to lower base metals prices and maintenance at one of its refineries. Lower net earnings also are expected at Buenaventura (BVN).
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  • Oct. 9, 2012, 8:46 AM
    Mexican copper miner and railroad operator Grupo Mexico (GMBXF.PK) says it will pay a $2B judgment to Southern Copper (SCCO) in cash rather than in stock. The payment will end a seven-year legal battle with SCCO's minority shareholders in one of the largest judgments ever awarded in a U.S. securities class action suit.
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  • Oct. 2, 2012, 3:42 PM
    In addition to upgrading Pan American Silver (PAAS) and downgrading Goldcorp (GG), Deutsche Bank adjusts price targets on other metals stocks: ABX, CDE, CLF, FCX, KGC, VALE, AA, HL, NEM, SSRI, SCCO, TCK. The sector is "hitting an inflection point where routine operating cost and capital spending overruns are no longer being tolerated by boards or investors."
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Company Description
Southern Copper Corp is producer of copper, molybdenum, zinc and silver. The Company's segments include Peruvian operations, Mexican open-pit operations, Mexican underground mining operations.
Industry: Copper
Country: United States