Summary
Southern Copper Corporation (SCCO) has filed a Form 8-K on March 1, 2007, reporting on comments made by its President and CEO, Oscar Gonzalez Rocha, regarding the company's operations in Peru. The key takeaway for investors is the status of the Ilo smelter. According to press reports from Peru on March 1, 2007, Mr. Gonzalez Rocha indicated that SCCO was selling concentrates to third parties due to initial delays in reaching full capacity at its Ilo smelter. However, he also provided an optimistic outlook, stating that the company expected to achieve full capacity at the Ilo smelter by the end of March 2007. This suggests a temporary operational adjustment and an anticipated return to normal production levels shortly.
Key Highlights
- 1Southern Copper Corporation (SCCO) reported on operational updates concerning its Ilo smelter in Peru.
- 2President and CEO, Oscar Gonzalez Rocha, commented on the smelter's performance.
- 3The company has been selling concentrates to third parties due to initial delays in reaching full capacity at the Ilo smelter.
- 4SCCO expects to achieve full operational capacity at the Ilo smelter by the end of March 2007.
- 5This information was disseminated through Peruvian press reports on March 1, 2007.