8-KOther Events

SOUTHERN COPPER CORP/ 8-K Report, Corporate Update (Sep 23, 2014)

Filed September 23, 2014For Securities:SCCO

Summary

Southern Copper Corporation (SCCO) filed an 8-K on September 22, 2014, to address a reported incident at its Buenavista del Cobre mine in Mexico. The filing clarifies that there was no second spill of acid copper sulfate solution, as some reports may have suggested. Instead, heavy rains from Hurricane Odile caused two reservoirs, Tinajas 1 and Tinajas 2, to overflow with rainwater. The company promptly notified authorities on September 18, 2014. The Mexican Environmental Protection Agency (PROFEPA) subsequently stated that the discharge was primarily rainwater containing ferrous elements below hazardous levels, posing no health hazard. Water testing conducted by PROFEPA, CONAGUA, and the company in the Bacanuchi and Sonora Rivers up to September 20, 2014, showed normal acidity levels, reassuring investors about environmental and health impacts.

Key Highlights

  • 1Clarification of no second acid copper sulfate spill at Buenavista del Cobre mine.
  • 2Incident attributed to overflow of rainwater from Tinajas 1 and Tinajas 2 reservoirs due to Hurricane Odile.
  • 3Timely communication of the event to relevant Mexican authorities on September 18, 2014.
  • 4Mexican Environmental Protection Agency (PROFEPA) confirmed discharge was primarily rainwater with non-hazardous ferrous elements.
  • 5Independent and company water testing in Bacanuchi and Sonora Rivers showed normal acidity levels.
  • 6PROFEPA statement indicated no health hazard associated with the discharge.

Frequently Asked Questions

Southern Copper reported an overflow of rainwater from two reservoirs (Tinajas 1 and Tinajas 2) at its Buenavista del Cobre mine in Mexico, following heavy rains from Hurricane Odile. The company clarified that this was not a second spill of acid copper sulfate solution.

According to the Mexican Environmental Protection Agency (PROFEPA), the discharge consisted mainly of rainwater containing ferrous elements at levels below those considered hazardous. Water quality testing in the Bacanuchi and Sonora Rivers by PROFEPA, CONAGUA, and the company indicated normal acidity levels, suggesting no significant environmental contamination.

Yes, Southern Copper's subsidiary, Buenavista del Cobre, S.A. de C.V., reported that the incident was timely communicated to the relevant authorities on September 18, 2014.

PROFEPA's official statement indicated that the discharged elements were below hazardous levels and not considered a health hazard. Water tests in nearby rivers also confirmed normal conditions.