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AMC's BUSINESS COMBINATION PROPOSAL: | 6 Months Ended
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Jun. 30, 2011
AMC's BUSINESS COMBINATION PROPOSAL: |
AMC's BUSINESS COMBINATION PROPOSAL: |
NOTE 3 — AMC’s BUSINESS COMBINATION PROPOSAL: On July 22, 2010, the Company received a non-binding proposal from its parent company, Americas Mining Corporation (“AMC”), offering to effect an all-stock business combination of Southern Copper and AMC, the parent company of ASARCO LLC (“Asarco”), in which all stockholders of Southern Copper would receive 1.237 common shares of AMC in exchange for each share of SCC. Under the proposal presented by AMC, the stock of AMC would be registered and listed on the New York, Mexico and the Lima Stock Exchanges. Once the listing and registration of the AMC shares are completed, SCC’s shares would be delisted from the exchanges. In August 2010, the Company formed a special committee of independent directors to evaluate AMC’s proposal. The special committee has engaged independent legal, financial and technical advisors to assist in the evaluation. There is no specific deadline to complete this evaluation.

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