Summary
Southern Copper Corporation (SCCO) filed an 8-K on May 12, 2015, addressing current events related to its Tia Maria Project in the Province of Islay, Peru. The Peruvian branch of SCCO issued a statement clarifying its position regarding allegations of bribery to end local protests. The company explicitly rejected claims that it offered money to protest leaders, stating that any such offer was made by an unauthorized third party. SCCO emphasized its commitment to ethical conduct and compliance with all applicable laws and codes of conduct. The company also provided an update on the Tia Maria Project, noting that it received final approval for its environmental impact assessment on August 1, 2014, and is awaiting authorization to commence construction. SCCO reiterated its support for the Peruvian government's efforts to resolve the ongoing disturbances peacefully, highlighting its adherence to high standards of honesty and integrity in its operations.
Key Highlights
- 1SCCO's Peruvian branch denied allegations of offering money to protest leaders to end disturbances in the Province of Islay.
- 2The company stated that any alleged offer was made by an unauthorized third party, not by SCCO.
- 3SCCO reaffirmed its commitment to ethical business practices and compliance with its Code of Conduct and relevant laws.
- 4The Tia Maria Project received final approval of its Environmental Impact Assessment on August 1, 2014.
- 5SCCO is awaiting authorization to proceed with the construction phase of the Tia Maria Project.
- 6The company expressed support for the Peruvian government's efforts to achieve a peaceful resolution to the Islay disturbances.