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.