Southern Copper (SCCO) on Q1 2019 Results - Earnings Call Transcript

Southern Copper Corporation (NYSE:SCCO) Q1 2019 Earnings Conference Call April 29, 2019 10:00 AM ET

Company Participants

Raul Jacob – Vice President-Finance, Treasurer and Chief Financial Officer

Conference Call Participants

Arthur Suelotto – Bradesco BBI
Andreas Bokkenheuser – UBS
Petr Grishchenko – Barclays
Carlos De Lava – Morgan Stanley
Jon Brandt – HSBC

Operator

Good morning and welcome to the Southern Copper Corporation’s First Quarter 2019 Results Conference Call. With us this morning, we have Southern Copper Corporation’s, Mr. Raul Jacob, Vice President of Finance, Treasurer and CFO, who will discuss the results of the company for the first quarter 2019 as well as answer any questions that you may have.

The information discussed on today’s call may include forward-looking statements regarding the company’s results and prospects, which are subject to risks and uncertainties. Actual results may differ materially and the company cautions to not place undue reliance on these forward-looking statements.

Southern Copper Corporation’s undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All results are expressed in full U.S. GAAP.

Now, I will pass the call on to Mr. Raul Jacob.

Raul Jacob

Thank you very much Victor, and good morning to everyone and welcome to Southern Copper's First Quarter of 2019 Earnings Conference Call. In today's call, we will begin with an update on our view of the copper market. We then will review Southern Copper's key results related to production, sales, operating cost, financial results, and expansion projects.

After that, we will open the session for questions. Now let us focus on the copper market, the core of our business. During the first quarter of this year, the London Metal Exchange copper price decreased by about 10.8% from an average of $3.16 per pound that we had at the first