EX-12.1 6 a2171259zex-12_1.htm EXHIBIT 12.1
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EXHIBIT 12.1

Ratio of Earningns to Fixed charges
Southern Copper Corporation
Computation of Ratio of Earnings to Fixed Charges
(Amounts in Thousands of dollars)

|  |  |  |  |  |  |  |  |  |  |  | Three Months Ended March 31,
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
|  | 2001 |  | 2002 |  | 2003 |  | 2004 |  | 2005 |  | 2005 |  | 2006
Earnings before tax, minority interest and cumulative effect of change in accounting principle |  | (65,792 | ) | 65,288 |  | 209,468 |  | 1,420,871 |  | 2,002,367 |  | 445,907 |  | 623,170
Fixed Charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net of capitalized interest |  | 171,242 |  | 128,747 |  | 117,009 |  | 107,904 |  | 108,874 |  | 26,998 |  | 22,907
Amortized premiums, discounts and capital expenses related to indebtedness |  | 2,159 |  | 12,400 |  | 5,844 |  | 16,500 |  | 10,559 |  | 1,690 |  | 0
Total fixed charges |  | 173,401 |  | 141,147 |  | 122,853 |  | 124,404 |  | 119,433 |  | 28,688 |  | 22,907
Pre-tax income(loss) from continuing operations plus fixed charges |  | 107,609 |  | 206,435 |  | 332,321 |  | 1,545,275 |  | 2,121,800 |  | 474,595 |  | 646,077
Ratio of earnings to fixed charges |  | (A | ) | 1.5 |  | 2.7 |  | 12.4 |  | 17.8 |  | 16.5 |  | 28.2

(A)
  Due to Southern Copper corporation's loss in 2001, the ratio coverage was less than 1:1. Southern Copper Corporation must generate additional earnings of $65,792 to achieve a coverage of 1:1

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