HighGravityDataSouthern Copper — Oct 21, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001558370-24-013432
Showing in the filing
Michiquillay total drilling program
“total program = 148,000 meters”
Period
No period stated
Measure
Company-defined measure
Source
Prose
All guidance in this release · 17
Quarterly cash dividend declared for FY2024
“quarterly cash dividend of $0.70 per share of common stock”
Stock dividend declared for FY2024
“stock dividend of 0.0062 shares of common stock per share of common stock, payable on November 21, 2024”
Capital investment program for this decade
“exceeds $15 billion”
Tia Maria capacity
“120,000 tons of SX- EW copper cathodes per year”
Tia Maria expected exports and tax/royalty c…
“we expect to export $17.5 billion and contribute $3.4 billion in taxes and royalties during the first 20 years of operation”
Tia Maria historical capital budget (under r…
“historical capital budget for Tia Maria of $1.4 billion”
Tia Maria construction jobs to be filled wit…
“intend to fill the 9,000 jobs”
Tia Maria jobs generated once operations start for FY2027
“the project will generate 600 direct jobs and 4,800 indirect jobs”
Tia Maria construction start for FY2025
“In 2025, we expect construction to begin.”
Los Chancas expected annual production for FY2024
“expected to produce 130,000 tons of copper and 7,500 tons of molybdenum annually”
Los Chancas estimated capital investment
“estimated capital investment is $2,600 million”
Los Chancas expected start of operations for FY2031
“expected to begin operating in 2031”
Los Chancas in-fill drilling campaign
“40,000-meter in-fill drilling campaign”
Michiquillay expected annual copper production for FY2024
“expect Michiquillay to produce 225,000 tons of copper per year”
Michiquillay expected initial mine life
“initial mine life of more than 25 years”
Michiquillay estimated investment and produc… for FY2032
“estimate an investment of approximately $2.5 billion will be required and expect production start-up by 2032”
Michiquillay total drilling program
“total program = 148,000 meters”
Exhibit 99.1 · the passage around this item
… earlier in the release
Michiquillay will become one of Peru ´ s largest copper mines and will create significant business opportunities in the Cajamarca region; generate new jobs for the local communities; and contribute with taxes and royalties to the local, regional and national governments. Project update : As of September 30, 2024, the total progress of the exploration project was 30%. We have drilled 120,923 meters (total program = 148,000 meters) and obtained 39,234 drill core samples for chemical analysis. Diamond drilling will continue and will provide information for the interpretation of geological sections related to mineralization, geological modeling and mineral resource evaluation. Geo-metallurgical studies are currently underway; hydrological and hydrogeological studies for the project will begin shortly. Environmental, Social & Corporate Governance (ESG) Practices Responsible Production . Our three operations in Peru, Cuajone, Toquepala and Ilo, were awarded with The Copper Mark and The Molybdenum Mark certifications for responsible production following an independent third-party assessment of environmental, social and governance performance (ESG). We are proud to report that all our open pit copper and molybdenum production has been certified under these standards. Education infrastructure for Arequipa . We delivered the Center for Research with specialized engineering laboratories to the Universidad Nacional de San Agust í n de Arequipa (UNSA), Peru. This facility, which was built under the Works for Taxes mechanism at a cost of $18 million, is equipped with 24 laboratories and will benefit 6,500 student
later in the release …
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other guidance in this release
Text is the filed exhibit, verbatim.