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STOCKHOLDERS' EQUITY: (Tables) | 12 Months Ended
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Dec. 31, 2012
STOCKHOLDERS' EQUITY |
Schedule of activity in treasury stock | Activity in treasury stock in the years 2012 and 2011 was as follows (in millions):
|  | 2012 |  | 2011 |
Southern Copper common shares |  |  |  |  |  |  |
Balance as of January 1, |  | $ | 734.1 |  | $ | 461.0 |
Purchase of shares |  | 147.3 |  | 273.6 |
Stock dividend distribution |  | (151.4 | ) | — |
Used for corporate purposes |  | (0.2 | ) | (0.5 | )
Balance as of December 31, |  | 729.8 |  | 734.1 |
Parent Company (Grupo Mexico) common shares |  |  |  |  |
Balance as of January 1, |  | 163.7 |  | 161.7 |
Other activity, including dividend, interest and currency translation effect |  | 25.3 |  | 2.0 |
Balance as of December 31, |  | 189.0 |  | 163.7 |
Treasury stock balance as of December 31, |  | $ | 918.8 |  | $ | 897.8 |
Schedule of share repurchase program activity |
|  |  |  |  |  |  |  |  |  | Maximum |  |  |
|  |  |  |  |  |  |  |  |  | Number of Shares |  |  |
|  |  |  |  |  | Average |  | Cumulative |  | that May Yet Be |  |  |
|  |  |  | Total Number |  | Price |  | Number of |  | Purchased Under |  | Total Cost |
Period |  | of Shares |  | Paid per |  | Shares |  | the Plan |  | ($ in |
From |  | To |  | Purchased |  | Share |  | Purchased |  | @ $37.86(1) |  | millions) |
2008: |  |  |  |  |  |  |  |  |  |  |  |  |
08/11/08 |  | 12/31/08 |  | 28,510,150 |  | 13.49 |  | 28,510,150 |  |  |  | $ | 384.7 |
2009: |  |  |  |  |  |  |  |  |  |  |  |  |
01/12/09 |  | 09/30/09 |  | 4,912,000 |  | 14.64 |  | 33,422,150 |  |  |  | 71.9 |
2010: |  |  |  |  |  |  |  |  |  |  |  |  |
05/05/10 |  | 10/14/10 |  | 15,600 |  | 29.69 |  | 33,437,750 |  |  |  | 0.5 |
2011: |  |  |  |  |  |  |  |  |  |  |  |  |
05/01/11 |  | 12/31/11 |  | 9,034,400 |  | 30.29 |  | 42,472,150 |  |  |  | 273.7 |
2012: |  |  |  |  |  |  |  |  |  |  |  |  |
04/10/12 |  | 04/23/12 |  | 278,486 |  | 30.23 |  | 42,750,636 |  |  |  | 8.4 |
05/30/12 |  | 05/31/12 |  | 500,000 |  | 28.57 |  | 43,250,636 |  |  |  | 14.3 |
06/01/12 |  | 06/30/12 |  | 370,000 |  | 28.33 |  | 43,620,636 |  |  |  | 10.5 |
08/01/12 |  | 08/31/12 |  | 100,000 |  | 32.47 |  | 43,720,636 |  |  |  | 3.2 |
09/01/12 |  | 09/30/12 |  | 2,763,850 |  | 34.71 |  | 46,484,486 |  |  |  | 95.9 |
10/01/12 |  | 10/31/12 |  | 430,000 |  | 34.83 |  | 46,914,486 |  |  |  | 15.0 |
|  |  |  | 4,442,336 |  | 33.17 |  |  |  |  |  | 147.3 |
Total purchased |  |  |  | 46,914,486 |  | 18.72 |  |  |  | 3,220,925 |  | $ | 878.1 |
(1) NYSE price at December 31, 2012
Schedule of activity in Directors' Stock Award Plan | The activity of this plan for the years ended December 31, 2012 and 2011 was as follows:
|  | 2012 |  | 2011 |
Total SCC shares reserved for the plan |  | 600,000 |  | 600,000 |
Total shares granted at January 1, |  | (271,200 | ) | (256,800 | )
Granted in the period |  | (14,400 | ) | (14,400 | )
Total shares granted at December 31, |  | (285,600 | ) | (271,200 | )
Remaining shares reserved |  | 314,400 |  | 328,800 |
Deduction from the amount to be paid to the employee in case of voluntary resignation |
If the resignation occurs during: |  | % Deducted |
1st year after the grant date |  | 90 | %
2nd year after the grant date |  | 80 | %
3rd year after the grant date |  | 70 | %
4th year after the grant date |  | 60 | %
5th year after the grant date |  | 50 | %
6th year after the grant date |  | 40 | %
7th year after the grant date |  | 20 | %
Deduction from the amount to be paid to the employee in case of involuntary termination |
If the termination occurs during: |  | % Deducted |
1st year after the grant date |  | 100 | %
2nd year after the grant date |  | 95 | %
3rd year after the grant date |  | 90 | %
4th year after the grant date |  | 80 | %
5th year after the grant date |  | 70 | %
6th year after the grant date |  | 60 | %
7th year after the grant date |  | 50 | %
Employee Stock Purchase Plan |
Share based compensation plan |
Schedule of stock award activity of the Employee Stock Purchase Plan | The following table presents the stock award activity of the Employee Stock Purchase Plan for the years ended December 31, 2012 and 2011:
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2012 |  | 7,270,341 |  | $ | 1.16 |
Granted |  | — |  | — |
Exercised |  | (220,430 | ) | 1.16 |
Forfeited |  | (94,339 | ) | 1.16 |
Outstanding shares at December 31, 2012 |  | 6,955,572 |  | 1.16 |
Outstanding shares at January 1, 2011 |  | 10,920,693 |  | $ | 1.16 |
Granted |  | — |  | — |
Exercised |  | (3,402,855 | ) | 1.16 |
Forfeited |  | (247,497 | ) | 1.16 |
Outstanding shares at December 31, 2011 |  | 7,270,341 |  | $ | 1.16 |
New Employee Stock Purchase Plan |
Share based compensation plan |
Schedule of stock award activity of the Employee Stock Purchase Plan | The following table presents the stock award activity of the New Employee Stock Purchase Plan for the years ended December 31, 2012 and 2011:
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2012 |  | 3,807,146 |  | $ | 2.05 |
Granted |  | — |  | — |
Exercised |  | (772,850 | ) | 2.05 |
Forfeited |  | (89,554 | ) | 2.05 |
Outstanding shares at December 31, 2012 |  | 2,944,742 |  | 2.05 |
Outstanding shares at January 1, 2011 |  | 3,901,901 |  | $ | 2.05 |
Granted |  | 51,923 |  | 2.05 |
Exercised |  | — |  | — |
Forfeited |  | (146,678 | ) | 2.05 |
Outstanding shares at December 31, 2011 |  | 3,807,146 |  | $ | 2.05 |

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