Southern Copper’s timeline
Southern Copper (SCCO) was incorporated in 1952 as Southern Peru Copper Corporation. In 2005, the company was renamed Southern Copper Corporation after it acquired Minera Mexico, to become the largest mining company in Mexico and Peru.
It’s worth noting that with almost half the global copper reserves, Latin America (ILF) holds the sway in global copper supply. Most leading copper miners, including BHP Billiton (BHP), Freeport-McMoRan (FCX), and Teck Resources (TCK), have copper mining operations in Latin America (ILF).
In this part of the series, we’ll look at the key dates on Southern Peru Copper Corporation’s timeline.
In 1954, Southern Peru Copper Corporation incorporated its Peruvian Branch and entered into an agreement with the government there to develop the Toquepala ore body. Construction of the Toquepala mine began in 1958, and mining operations were started at the mine two years later.
Initially, the Toquepala mining complex had a milling capacity of 46,000 metric tons per day. This was increased to 60,000 metric tons per day in 2002.
The Cuajone mining complex started operations in 1976 with an initial milling capacity of 58,000 metric tons per day. The capacity was later increased to 87,000 metric tons per day in 1999.
In 1994, Southern Peru Copper Corporation purchased the Ilo copper refinery. The plant had annual production capacity of 190,000 metric tons, which was later expanded to 280,000 metric tons in 2002.
As part of its agreement with the Peruvian government, the company developed a sulfuric acid plant with a design capacity of 140,600 metric tons per year. The plant provides acid for copper leaching operations.
Southern Peru Copper Corporation listed on the NYSE (New York Stock Exchange) and Lima Stock Exchange in 1996.
To get a complete picture of present-day Southern Copper Corporation, investors need to know about Minera Mexico, which Southern Peru Copper Corporation acquired in 2005.