Southern Copper Corporation reported record financial results for the third quarter of 2026, with net sales rising 39.1% year-over-year to $4.70 billion. The performance was primarily driven by higher metal prices across all products and increased zinc sales volume, which offset lower sales volumes for copper, molybdenum, and silver. Net income surged 62.7% to a record $1.80 billion, supported by disciplined cost management and a significant reduction in operating cash costs.
Key Highlights
- Operating cash cost per pound of copper, net of by-product credits, plummeted 77.4% to $0.09 from $0.42 in the prior-year period.
- Adjusted EBITDA reached a record $3.04 billion, with margins expanding to 64.7% compared to 58.5% in the third quarter of 2025.
- Mined copper production decreased 1.1% to 232,396 tonnes, largely due to lower ore grades at Peruvian operations.
- Capital investments totaled $515.8 million for the quarter, a 47.7% increase, as the Tia Maria project in Peru reached 49.6% completion.
- The company authorized a quarterly cash dividend of $1.30 per share alongside a stock dividend of 0.0106 shares per share.