南方铜业 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period ended:September30,2025 or TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 SOUTHERN COPPER CORPORATION (Exact name of registrant as specified in its charter) 13-3849074 Delaware (State or other jurisdiction of incorporation or organization) Registrant’s telephone number, including area code:(602)264-1375 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on whichregistered:New York Stock Exchange Lima Stock Exchange Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90 days.Yes⌧No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files).Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐Emerging growthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes☐No⌧ As of October 31, 2025, there were outstanding812,191,830shares of Southern Copper Corporation common stock, parvalue $0.01 per share. Southern Copper Corporation (“SCC”) INDEX TO FORM 10-Q Part I. Financial Information: Item 1.Condensed Consolidated Financial Statements (Unaudited)3Condensed Consolidated Statements of Earningsforthe three and nine-monthperiods ended September 30, 2025 and 20243Condensed Consolidated Statements of Comprehensive Incomeforthe three andnine-month periods ended September 30, 2025 and 20244Condensed Consolidated Balance Sheets as of September 30, 2025 andDecember31, 20245Condensed Consolidated Statements of Cash Flows forthe three and nine-monthperiods ended September 30, 2025 and 20246Condensed Consolidated Statements of Changes in Equityforthe three and nine-month periods ended September 30, 2025 and 20247Notes to Condensed Consolidated Financial Statements8-38Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations39-59Item 3.Quantitative and Qualitative Disclosure about Market Risk60-61Item 4.Controls and procedures62Report of Independent Registered Public Accounting Firm63Part II. Other Information:Item 1.Legal Proceedings64Item 1A.Risk Factors64Item 2.Unregistered Sale of Equity Securities and Use of Proceeds64Item 4.Mine Safety Disclosures64Item 5.Other Information64Item 6.List of Exhibits65-68Signatures69 PARTI — FINANCIAL INFORMATION Southern Copper Corporation Southern Copper Corporation CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Unaudited) Southern Copper Corporation CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) Southern Copper Corporation CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) Southern Copper Corporation Southern Copper Corporation NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) NOTE 1— DESCRIPTION OF THE BUSINESS: Southern Copper Corporation (“Southern Copper”, "SCC" or the “Company”) is a majority-owned,indirect subsidiary of Grupo Mexico S.A.B. de C.V. (“Grupo Mexico”). As of September30,2025, GrupoMexico, through its wholly-owned subsidiary Americas Mining Corporation (“AMC”) owned88.9% ofthe Company’s capital stock. The condensed consolidated financial statements presented herein consist ofthe accounts of Southern Copper, a Delaware corporation, and its subsidiaries. The Company is anintegrated producer of copper and other minerals, and operates mining, smelting and refining facilities inPeru and Mexico. The Company conducts its primary operations in Peru through a registered branch (the"Peruvian Branch" or “Branch” or “SPCC”). The Peruvian Branch is not a corporation separate from theCompany. The Company's Mexican operations are conducted through subsidiaries. The Company alsoconducts exploration activities in Argentina, Chile, Mexico and Peru. In the opinion of the Company, the accompanying unaudited condensed consolidated financial statem