Southern Copper Corporation reported a 73.6% increase in Q2 2024 net income to $950.2 million, driven by a 35.5% rise in net sales to $3,118.3 million. The growth was fueled by higher sales volumes and improved metal prices across all products. Adjusted EBITDA jumped 61.1% to $1,797.0 million, with the margin expanding to 57.6%.Copper production rose 6.6% QoQ to 242,474 tons, boosted by higher output at all open pit operations. By-product production saw significant increases, with zinc up 70.8% and molybdenum up 20.8%. The operating cash cost per pound of copper, net of by-product credits, decreased 29% QoQ to $0.76.The company announced a quarterly cash dividend of $0.60 per share and a stock dividend of 0.0056 shares per share. Southern Copper also reported the official resumption of activities at the Tía María project, expected to boost local employment and generate significant economic benefits for the region.

Southern Copper Corporation reported a 73.6% increase in Q2 2024 net income to $950.2 million, driven by a 35.5% rise in net sales to $3,118.3 million. The growth was fueled by higher sales volumes and improved metal prices across all products. Adjusted EBITDA jumped 61.1% to $1,797.0 million, with the margin expanding to 57.6%.Copper production rose 6.6% QoQ to 242,474 tons, boosted by higher output at all open pit operations. By-product production saw significant increases, with zinc up 70.8% and molybdenum up 20.8%. The operating cash cost per pound of copper, net of by-product credits, decreased 29% QoQ to $0.76.The company announced a quarterly cash dividend of $0.60 per share and a stock dividend of 0.0056 shares per share. Southern Copper also reported the official resumption of activities at the Tía María project, expected to boost local employment and generate significant economic benefits for the region.