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.