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Southern Copper Corporation (SCCO)

- NYSE
  • 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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  • Oct. 1, 2012, 5:51 PM
    Southern Copper (SCCO) will decide in January if it will go forward with its $1.2B Los Chancas project in Peru, CEO Oscar Gonzalez says, adding that the copper producer is pushing ahead with its investments in Peru and Mexico despite the weak global economy.
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  • Sep. 4, 2012, 3:41 PM
    Southern Copper (SCCO -1.3%) postpones a planned bond sale after the Delaware Supreme Court upholds a $2B judgment against parent company Grupo Mexico. SCCO, the largest producer of the metal in Peru and Mexico, reportedly had planned to sell 10- and 30-year bonds as soon as this week.
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  • Aug. 27, 2012, 6:10 PM
    Southern Copper (SCCO) says it is advancing negotiations with union workers in Peru for new collective agreements, holding its third round of talks this week. The collective agreements with SCCO's main unions expire at the end of August.
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  • Jul. 31, 2012, 5:52 PM
    Copper prices will find support in the next few months thanks to Chinese demand that could expand 7%-8% this year, outpacing supply, Southern Copper's (SCCO) Raul Jacob says. Global demand for refined copper is expected to grow 3.5%, or 675K metric tons, while copper supply will grow less than 1%.
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  • Jun. 14, 2012, 2:24 PM
    Peruvian protesters may want to consider shifting the focus of their anger (I, II): Local governments had 9.5B soles ($3.5B) from natural resources taxes collected over the last decade lying dormant in bank accounts as of December, according to a Reuters analysis - in provinces where the poverty rate often exceeds 60% despite a decade-long boom fueled by minerals exports.
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  • Jun. 7, 2012, 1:20 PM
    Southern Copper (SCCO) says operations are unaffected in Peru by an earthquake near the southern coast.
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  • May 29, 2012, 2:25 PM
    Peru's government declared a state of emergency last night in southern Peru after deadly protests opposing Xstrata's (XSRAF.PK +5.2%) Tintaya copper mine. Anti-mining activists have recently halted investments in several planned mines, such as Southern Copper's (SCCO +2.1%) Tia Maria project and Newmont Mining's (NEM -1.9%) Minas Conga project.
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  • May 2, 2012, 12:10 AM
    Notable earnings after Wednesday's close: AGNC, ALL, APKT, ATML, AWK, CLR, CXO, CXW, DCT, EIX, ESS, EXPD, EXXI, GMCR, HIG, HTZ, IO, JDSU, KIM, LBTYA, LNC, MELI, MTD, MUR, NGD, NLY, ONNN, ONXX, PPO, PRU, PXD, RIG, SCCO, SHO, SUN, SYMC, TSO, V, WFM, WLT, YELP
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  • May 1, 2012, 5:35 PM
    Notable earnings after Wednesday's close: AGNC, ALL, APKT, ATML, AWK, CLR, CXO, CXW, DCT, EIX, ESS, EXPD, EXXI, GMCR, HIG, HTZ, IO, JDSU, KIM, LBTYA, LNC, MELI, MTD, MUR, NGD, NLY, ONNN, ONXX, PPO, PRU, PXD, RIG, SCCO, SHO, SUN, SYMC, TSO, V, WFM, WLT, YELP
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  • Apr. 18, 2012, 12:52 PM
    Southern Copper (SCCO -0.8%) considers making a $1B bid for a gold and silver project in Chile, according to local reports. The company already has six exploration projects in the northern part of the country in operation.
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  • Mar. 28, 2012, 11:08 AM
    Indonesia says it will delay talks on imposing an export tax for coal and base metals due to a lack of consensus between various ministries on policy.  Ministry officials note however, that it still plans to implement the charge later this year. Freeport McMoRan Copper & Gold (FCX -3.4%), Southern Copper (SCCO -1.5%).
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  • Mar. 27, 2012, 8:07 AM
    Morgan Stanley upgrades Southern Copper (SCCO) and Vale (VALE) to Overweight from Equal-Weight. Analysts cite the "big underperformance" in the stocks and see improved steel conditions in China benefiting both companies. Premarket: SCCO +1.0%, VALE +0.6%.
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  • Feb. 28, 2012, 8:15 AM
    The Chinese use of copper in financing schemes takes another turn as some banks begin suspending loans against the metal after finding companies using the same collateral to apply for loans from more than one lender. While putting a number on it is impossible, the practice is almost certainly a source of false demand for the metal.
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  • Feb. 13, 2012, 1:39 PM
    China's imports of copper - far in excess of anticipated need - suggests to Gordon Chang that Beijing is attempting to dress up its trade numbers. Even as exports fall off, China's trade surplus is growing as imports dive even faster, giving the U.S. the nod to pressure on trade issues. Later this year, look for China to stop buying copper and the price to dive.
    | 1 Comment
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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