8-K/AOther Events

SOUTHERN COPPER CORP/ 8-K/A Report, Corporate Update (Apr 4, 2006)

Filed April 4, 2006For Securities:SCCO

Summary

Southern Copper Corporation (SCCO) filed an amendment to its Form 8-K on April 3, 2006, to correct a previous filing. The amendment clarifies that a work situation, involving illegal blocking of mine and concentrator entrances, is occurring at the Caridad mine in Mexico, not the Cananea mine as initially reported. Operations at all other SCCO complexes in Mexico remain normal. SCCO's subsidiary, Mexicana de Cobre, S.A. de C.V., is pursuing legal action to resolve the situation, which began on March 24, 2006. The company expresses confidence in a swift and lawful resolution by Mexican federal authorities. Investors should note this as a minor administrative correction to a prior report, with the operational impact confined to the Caridad mine, and SCCO is taking legal steps to address it.

Key Highlights

  • 1Amendment to a previous Form 8-K filing dated April 3, 2006.
  • 2Corrects the location of a reported work situation from Cananea mine to Caridad mine in Mexico.
  • 3The work situation involves illegal blocking of mine and concentrator entrances at the Caridad mine, starting March 24, 2006.
  • 4Operations at all other SCCO mining and metallurgical complexes in Mexico are unaffected and running normally.
  • 5SCCO's subsidiary, Mexicana de Cobre, S.A. de C.V., has initiated legal actions before Mexican federal authorities.
  • 6SCCO anticipates a prompt resolution based on legal proceedings.
  • 7Confidence expressed in the lawful action of Mexican federal authorities to resolve the conflict.

Frequently Asked Questions

The primary purpose was to amend a previous 8-K filing to correct an inadvertent error in identifying the mine experiencing a work situation in Mexico. The filing clarifies that the issue is at the Caridad mine, not the Cananea mine.

Since March 24, 2006, some workers have illegally blocked the entrance to the mine and concentrator at the Caridad mine. This occurred despite an agreement with the National Union of Mine, Metallurgical and Similar Workers of Mexico.

No, operations at all other mining and metallurgical complexes of Southern Copper Corporation in Mexico are running normally. The issue appears to be isolated to the Caridad mine.

Southern Copper's subsidiary, Mexicana de Cobre, S.A. de C.V., has commenced appropriate legal actions before Mexican federal authorities to restore its property rights and expects a prompt resolution.