Risk Sleuth
SCCO · 10-K filed 27 Feb 2026 · year to 31 Dec 2025

Southern Copper

32 named things its latest annual report says its results depend on, each in the company's own words. 11 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Mexico Generadora de Energia S. de R.L. (MGE)

depends on · 516.2 megawatts
We purchase most of our electricity from Mexico Generadora de Energia S. de R. L. (“MGE”), a subsidiary of Grupo Mexico which has two power plants designed to supply power to La Caridad and Buenavista units.Business (Item 1)

Electroperu S.A.

depends on · 120 megawatts
In June 2014, we entered into a power purchase agreement for 120 megawatts (“MW”) with the state owned company Electroperu S.A., which began supplying energy to our Peruvian operations for a twenty-year period that started on April 17, 2017.Business (Item 1)

Kallpa Generacion S.A.

depends on · 120MW
In May 2016, we signed an additional power purchase agreement for a maximum of 80MW with Kallpa, under which Kallpa began supplying energy to the operations related to the Toquepala expansion and to other minor projects for a period starting on May 1, 2017, and ending on April 30, 2029.Business (Item 1)

Parque Eolico de Fenicias

depends on · 611,400 MWh of power per year
On February 20, 2020, the Company signed a power purchase agreement with Parque Eolico de Fenicias, S. de R.L. de C.V., and indirect subsidiary of Grupo Mexico, to supply 611,400 MWh of power per year to some of the Company´s Mexican operations for 20 years.Business (Item 1)

Comision Federal de Electricidad (CFE)

depends onnamed as a risk
Accordingly, a significant portion of our operating costs in Mexico is dependent upon the pricing policies of CFE and PEMEX, which are affected by political and regulatory environments, international market prices for crude oil and natural gas; and conditions in the refinery markets.Business (Item 1)

Petroleos Mexicanos (PEMEX)

depends onnamed as a risk
In Mexico, since 2018, we have purchased fuel from Petroleos Mexicanos (“PEMEX”), the state producer, and from private suppliers.Business (Item 1)

Valero Peru

depends on
In Peru, we obtain fuel primarily from Valero Peru, a local subsidiary of Valero Energy Corporation, a U.S. producer of fuel and power.Business (Item 1)

Eolica el Retiro

depends on
Some IMMSA mining operations also purchase electricity from Eolica el Retiro, S.A.P.I de C.V. (“Eolica”), a windfarm energy producer that is an indirect subsidiary of Grupo Mexico.Business (Item 1)

Partners and platforms

COMEX and London Metal Exchange (LME)

exposed to its price
Prices for our products are principally a function of supply and demand and, with the exception of molybdenum, are established on COMEX and LME.Business (Item 1)

Other companies

Grupo Mexico S.A.B. de C.V.

88.9% of our capital stocknamed as a risk
As of December 31, 2025, Grupo Mexico owned indirectly 88.9% of our capital stock.Risk factors (Item 1A)

Tia Maria Project

operates innamed as a risk
Our Tia Maria project in Peru has experienced delays while trying to resolve issues with community groups.Risk factors (Item 1A)

Places

Mexico

concentrated innamed as a risk
Our revenues are derived primarily from our operations in Peru and Mexico.Business (Item 1)

Also named by AAP, AME, AMRC, ANET, AOS, ARES, AYI, AZO and 83 more

China

earns fromnamed as a risk
In addition to the factors discussed above, copper prices may be affected by demand from China, which is currently the largest consumer of refined copper and concentrate in the world.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

Peru

concentrated innamed as a risk
A significant portion of our operations is conducted in Peru.Risk factors (Item 1A)

Also named by FCX

Sonora

operates innamed as a risk
In addition, collective action lawsuits and civil action lawsuits have been filed against the Company in Mexico through both federal courts and state courts in Sonora.Risk factors (Item 1A)

Hazards

Seismic activity

operates innamed as a risk
The failure or loss of integrity of a tailings storage facility or related waste management infrastructure—whether due to operational deficiencies, extreme weather events, seismic activity, regulatory constraints or other factors beyond our control—could result in the release of tailings, process water or other materials, causing environmental harm and potential impacts to surrounding communities, damage to, or destruction of mining operations, resulting in monetary losses and possible legal liability.Risk factors (Item 1A)

Also named by HL, MOS

Cuajone mine community protests

operates innamed as a risk
In 2022, violent protests by some of communities adjoining the Cuajone mine negatively affected the mine’s operations.Risk factors (Item 1A)

Taxco mine strike

operates innamed as a risk
Our Taxco mine in Mexico has been on strike since July 2007.Risk factors (Item 1A)

Commodities and inputs

Copper

exposed to its price · approximately 75.9% of our revenuesnamed as a risk
Over the last three years, approximately 75.9% of our revenues were generated from the sale of copper; 10.9% from molybdenum; 5.7% from silver; and 3.6% from zinc.Risk factors (Item 1A)

Also named by AAON, AGX, AMKR, APG, APH, APLD, BMI, BWA and 58 more

Mexican peso

exposed to its price · $(25.6)named as a risk
Although all of our Mexican operations’ sales of metals are priced and invoiced in U.S. dollars, a substantial portion of its costs are denominated in pesos.Risk factors (Item 1A)

Also named by AYI, AZO, BAX, CCK, CDRE, CP, DCH, EZPW and 14 more

Zinc

exposed to its price · 3.6%named as a risk
Over the last three years, approximately 75.9% of our revenues were generated from the sale of copper; 10.9% from molybdenum; 5.7% from silver; and 3.6% from zinc.Risk factors (Item 1A)

Also named by CDE, FBIN, HL, HLMN, JBI, LFUS, LNN, MAS and 6 more

Silver

exposed to its price · 5.7%named as a risk
Over the last three years, approximately 75.9% of our revenues were generated from the sale of copper; 10.9% from molybdenum; 5.7% from silver; and 3.6% from zinc.Risk factors (Item 1A)

Also named by CDE, DC, EZPW, HL, LECO, LFUS, LULU, NEM and 2 more

Molybdenum

exposed to its price · 10.9%named as a risk
Over the last three years, approximately 75.9% of our revenues were generated from the sale of copper; 10.9% from molybdenum; 5.7% from silver; and 3.6% from zinc.Risk factors (Item 1A)

Also named by CRS, FCX, HON

Fuel, gas and electricity

exposed to its price · approximately 26% of our total production costsnamed as a risk
Fuel, gas and power costs constituted approximately 26% of our total production costs in 2025 and 2024, and 29% in 2023.Risk factors (Item 1A)

Peruvian sol

exposed to its price · $(42.5)named as a risk
Although the U.S. dollar is our functional currency and our revenues are primarily denominated in U.S. dollars, as we operate in Peru, portions of our operating costs are denominated in Peruvian soles.Risk factors (Item 1A)

Natural gas

exposed to its price
The La Caridad unit imports natural gas from the United States through its pipeline (between Douglas, Arizona and Nacozari, Sonora).Business (Item 1)

Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more

Regulators

Peru Ministry of Energy and Mines (MINEM)

subject to · 164,805 hectaresnamed as a risk
In Peru, our mineral rights derive from concessions from Ministry of Energy and Mines (“MINEM”) for our exploration, exploitation, extraction and/or production operations.Risk factors (Item 1A)

Mexico Ministry of Economy

subject to · 505,788 hectaresnamed as a risk
In Mexico, our mineral rights derive from concessions granted, on a discretionary basis, by the Ministry of Economy, pursuant to Mexican mining law and regulations thereunder.Risk factors (Item 1A)

Comision Nacional del Agua (CNA)

subject to
In Mexico, water is deemed public property and industries that are not connected to a public service water supply must obtain a water concession from Comision Nacional del Agua (the National Water Commission or the “CNA”).Business (Item 1)

Laws and programs

U.S. Section 232 copper tariffs

subject to · 50% tariffnamed as a risk
On July 30, 2025, the U.S. announced a 50% tariff on semi-finished copper products and copper-intensive derivative products, which became effective on August 1, 2025.Risk factors (Item 1A)

Also named by FCX

Mexican Mining Law 2023 reform

subject to · from 50 to 30 yearsnamed as a risk
The main aspects of the Company´s business that will be affected by the legislation are the terms for mining concessions from 50 to 30 years; new conditions on water use; provision of guarantees for site closure and remediation; a new 5% contribution of net earnings to indigenous communities for new projects and significant changes to exploration rules.Risk factors (Item 1A)

Mexican judicial reform 2024

subject tonamed as a risk
The implementation of this reform is ongoing, and the Company cannot currently assess its potential impact on the Mexican federal judicial system or the Company's operations.Business (Item 1)