8-KOther Events

SOUTHERN COPPER CORP/ 8-K Report, Corporate Update (Mar 15, 2022)

Filed March 15, 2022For Securities:SCCO

Summary

Southern Copper Corporation (SCCO) disclosed a significant operational disruption at its Cuajone mine in Peru. A group from the Tumilaca, Pocata, Coscore, and Tala rural communities has illegally occupied the Viña Blanca reservoir for a second time, cutting off the water supply to the mine and its associated townsite. This action directly threatens the well-being of approximately 5,000 residents and has paralyzed copper production from the Cuajone mine, a key asset for the company. The company, through its Peruvian branch (SPCC), denies allegations of land usurpation, stating that its mining concessions and rights were legally granted by the Peruvian State in 1951 and have been in operation for over 45 years. SPCC has appealed to the Peruvian government and police to restore order and protect the water rights of the community, emphasizing its willingness to engage in dialogue once violent tactics cease.

Key Highlights

  • 1Illegal occupation of Viña Blanca reservoir by a rural community group, second occurrence.
  • 2Water supply cut to Cuajone mine and townsite, impacting 5,000 residents.
  • 3Paralysis of copper production at the Cuajone mine.
  • 4Company (SPCC) denies allegations of land usurpation, citing legal concessions granted in 1951.
  • 5Group has employed violent tactics, including railroad blockades.
  • 6SPCC requests government intervention to restore rule of law and water rights.
  • 7Company expresses willingness for constructive dialogue conditional on cessation of violent tactics.

Frequently Asked Questions