<SEC-DOCUMENT>0001104659-13-056739.txt : 20130830
<SEC-HEADER>0001104659-13-056739.hdr.sgml : 20130830
<ACCEPTANCE-DATETIME>20130725175011
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-13-056739
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20130725

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOUTHERN COPPER CORP/
		CENTRAL INDEX KEY:			0001001838
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				133849074
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1440 E. MISSOURI AVENUE
		STREET 2:		SUITE 160
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85014
		BUSINESS PHONE:		602-264-1375

	MAIL ADDRESS:	
		STREET 1:		1440 E. MISSOURI AVENUE
		STREET 2:		SUITE 160
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOUTHERN PERU COPPER CORP/
		DATE OF NAME CHANGE:	19960726

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOUTHERN PERU COPPER HOLDING CO
		DATE OF NAME CHANGE:	19951006
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:11.0pt;">Executive   Presidency</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:11.0pt;">July&nbsp;25, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Ms.&nbsp;Tia L. Jenkins</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Senior Assistant Chief Accountant</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">United States Securities and Exchange Commission</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Office of Beverages, Apparel and Mining</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Washington, D.C. 20549-7010</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Re:&#160;&#160;&#160;&#160;&#160; Southern Copper Corporation</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Form&nbsp;10-K for the Year Ended December&nbsp;31, 2012</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Filed February&nbsp;28, 2013</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Response dated June&nbsp;28, 2013</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">File No.&nbsp;001-14066</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Dear Ms.&nbsp;Jenkins:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:11.0pt;">On behalf of Southern Copper Corporation (the &#147;Company&#148;),&nbsp;I, Oscar Gonzalez Rocha, the Company&#146;s President and Chief Executive Officer, submit our response to your letter dated July&nbsp;11, 2013, relating to the above-referenced filing.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:11.0pt;">To assist in the Staff&#146;s review of the Company&#146;s responses, we have preceded our response with the text (in bold type) of the comment as stated in your letter.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Form&nbsp;10-K for the Year Ended December&nbsp;31, 2012</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Operating Cash Costs, page&nbsp;75 and Non-GAAP Information Reconciliation, page&nbsp;95</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">1.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">We have considered your response to our prior comment 1. We continue to believe the presentation of this non-GAAP measure, operating cash cost per pound of copper produced, which deducts material by-product sales related to Molybdenum, Silver, Zinc and other sales is inappropriate because it places too much emphasis on a measure that materially distorts your actual production costs. Please amend your Form&nbsp;10-K to comply.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">1<a name="PB_1_011911_7056"></a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">SOUTHERN COPPER CORPORATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">1440 E. Missouri Avenue, Suite&nbsp;160, Phoenix, AZ 85014</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">Phone: 1 (602) 264-1375&#160; -&#160; Fax: 1 (602) 264-1397</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">www.southerncoppercorp.com</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:11.0pt;">Executive   Presidency</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:11.0pt;">Although we believe that continued presentation of the non-GAAP measure &#147;operating cash cost per pound of copper produced&#148; computed by deducting by-product molybdenum, silver, zinc and other sales is appropriate and a very useful management tool, in light of the Staff&#146;s comments, we respectfully propose to revise our disclosure in future filings by (1)&nbsp;removing all mentions, including from our tables, of &#147;operating cash cost per pound of copper produced&#148; computed by deducting by-product molybdenum, silver, zinc and other sales, and (2)&nbsp;presenting only &#147;operating cash cost per pound of copper produced&#148; computed without deducting by-product molybdenum, silver, zinc and other sales.&#160; Our discussion of operating cash costs in future filings, including our Form&nbsp;10-Q for the second quarter of 2013, which we currently anticipate filing as early as August&nbsp;6, 2013, will be in forms substantially similar to the ones below (changes are marked), updated to reflect the facts as of the future filing date.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:11.0pt;">We also respectfully request that the Staff waive its request to amend our Form&nbsp;10-K for the year ended 2012 and our Form&nbsp;10-Q for the first quarter of 2013 because we believe the revised disclosure we propose to include in our upcoming Form&nbsp;10-Q for the second quarter of 2013 (referenced above) properly addresses the Staff&#146;s concerns regarding the previous disclosures and will reflect the most current information on this topic. We also do not believe that the previous disclosures were materially misleading or that investors will benefit from eliminating the previous disclosures in additional, amended filings.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><u><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">Form&nbsp;10-K:</font></u></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">&#147;<u>Operating Cash Costs:</u> An overall benchmark used by us and a common industry metric to measure performance is operating cash costs per pound of copper produced.&nbsp; Operating cash cost is a non-GAAP measure that does not have a standardized meaning and may not be comparable to similarly titled measures provided by other companies. <u><font color="blue" style="color:blue;">This non-GAAP information should not be considered in isolation or as a substitute for measures of performance determined in accordance with GAAP. </font></u>A reconciliation of our operating cash cost per pound to the cost of sales (exclusive of depreciation, amortization and depletion) as presented in the consolidated statement of earnings is presented under the subheading, &#147;Non-GAAP Information Reconciliation,&#148; on page&nbsp;XX.</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">We have defined operating cash cost per pound<u><font color="blue" style="color:blue;"> of copper produced</font></u> as cost of sales (exclusive of depreciation, amortization and depletion), less the cost of purchased concentrates, plus selling, general and administrative charges, treatment and refining charges<strike><font color="red" style="color:red;">, net revenue (loss) on sale of metal purchased from third parties and by-product revenues</font></strike>, and sales premiums; less workers&#146; participation and other miscellaneous charges, including the Peruvian royalty charge, <strike><font color="red" style="color:red;">the special mining tax </font></strike>and the change in inventory levels; divided by total pounds of copper produced by our own mines.&nbsp; <strike><font color="red" style="color:red;">In our calculation of operating cash cost per pound of copper produced, we credit against our costs the revenues from the sale of by-products: molybdenum, zinc, silver, gold and other minor by- products and the premium over </font></strike></font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">2<a name="PB_2_011954_5335"></a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">SOUTHERN COPPER CORPORATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">1440 E. Missouri Avenue, Suite&nbsp;160, Phoenix, AZ 85014</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">Phone: 1 (602) 264-1375&#160; -&#160; Fax: 1 (602) 264-1397</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">www.southerncoppercorp.com</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:11.0pt;">Executive   Presidency</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">market price that we receive on copper sales.&nbsp; We account for the by-product revenues in this way because we consider our principal business to be the production and sale of copper.&nbsp; We believe that our Company is viewed by the investment community as a copper company, and is valued, in large part, by the investment community&#146;s view of the copper market and our ability to produce copper at a reasonable cost.&nbsp; </font></strike></i><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">We <u><font color="blue" style="color:blue;">add treatment and refining charges as these charges are deductions from published copper prices and</font></u><strike><font color="red" style="color:red;">also</font></strike> include copper sales premiums as a credit, as these amounts are in excess of published copper prices.&nbsp; <strike><font color="red" style="color:red;">The increase in recent years in the price of molybdenum, as well as increases in the prices of silver and zinc, have had a significant effect on our traditional calculation of cash cost and its comparability between periods.&nbsp; Accordingly, we present cash costs with and without crediting the by-product revenues against our costs.</font></strike></font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">&nbsp;</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">We exclude the cost of purchases of third party copper material.&nbsp; From time to time we purchase copper concentrates on the open market in order to maximize the use of our metallurgical facilities or to take advantage of an attractive market situation.&nbsp; We view these purchases on an incremental basis and measure the results incrementally.&nbsp; We find that the inclusion of these purchases with our own production often creates a distortion in our unit cost.&nbsp; <strike><font color="red" style="color:red;">Accordingly, we include only the net effect of these purchases as a by-product credit, so that only the net revenue or loss from the transaction is included in the calculation.&nbsp; We believe this will allow others to see a truer presentation of our cash cost, which we consider is one of the lowest of copper producing companies of similar size.</font></strike></font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">We exclude from our calculation of operating cash cost depreciation, amortization and depletion, which are considered non-cash expenses.&nbsp; Exploration is considered a discretionary expenditure and is also excluded.&nbsp; Workers&#146; participation provisions are determined on the basis of pre-tax earnings and are also excluded.&nbsp; Additionally excluded from operating cash costs are items of a non-recurring nature and the mining royalty charge<strike><font color="red" style="color:red;"> and special mining tax</font></strike>.</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">Our operating cash costs per pound, as defined, are presented in the table below for the three years ended December&nbsp;31, 20XX.</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">3<a name="PB_3_012429_5796"></a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">SOUTHERN COPPER CORPORATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">1440 E. Missouri Avenue, Suite&nbsp;160, Phoenix, AZ 85014</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">Phone: 1 (602) 264-1375&#160; -&#160; Fax: 1 (602) 264-1397</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">www.southerncoppercorp.com</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:11.0pt;">Executive   Presidency</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="93%" style="border-collapse:collapse;margin-left:.5in;width:93.34%;">
<tr>
<td width="26%" valign="bottom" style="padding:0in 0in 0in 0in;width:26.86%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.66%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="40%" colspan="8" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:40.7%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Year</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="26%" colspan="5" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:26.22%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Variance</font></i></b></p>    </td>
<td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>   </tr>
<tr>
<td width="26%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:26.86%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;font-weight:bold;">(Dollars&nbsp;per&nbsp;pound)</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.66%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;font-weight:bold;">20XX</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="11%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;font-weight:bold;">20XX</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="11%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;font-weight:bold;">20XX</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;font-weight:bold;">20XX-<br>   20XX</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.68%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="11%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.78%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;font-weight:bold;">20XX-<br>   20XX</font></i></b></p>    </td>
<td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.88%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>   </tr>
<tr>
<td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:26.86%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;">Total operating cash cost</font></u></i><i><u><font size="1" color="blue" face="Arial" style="color:blue;font-size:6.5pt;font-style:italic;position:relative;top:-3.0pt;">1</font></u></i></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.3%;">
<p style="margin:3.0pt 0in .0001pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;">$</font></u></i></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;">$</font></u></i></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;">$</font></u></i></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;">$</font></u></i></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.48%;">
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<p style="margin:3.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:3.0pt 0in .0001pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;">$</font></u></i></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.48%;">
<p align="right" style="margin:3.0pt 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;">X.XXX</font></u></i></p>    </td>
<td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.88%;">
<p style="margin:3.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>
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<p style="margin:5.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;">Total pounds of copper produced</font></u></i></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>
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<p style="margin:5.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;">Operating cash cost per pound   of copper produced<strike><font color="red" style="color:red;"> without by   product revenue</font></strike></font></i><i><u><font size="1" color="blue" face="Arial" style="color:blue;font-size:6.5pt;font-style:italic;position:relative;top:-3.0pt;">1</font></u></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><u><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;">$</font></u></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><u><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;">$</font></u></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><u><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;">$</font></u></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><u><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;">$</font></u></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><u><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;">$</font></u></i></p>    </td>
<td width="10%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:10.48%;">
<p align="right" style="margin:5.0pt 0in .0001pt;text-align:right;"><i><u><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;">X.XXX</font></u></i></p>    </td>
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<p style="margin:5.0pt 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>
<tr>
<td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.86%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">Add: by-product revenues</font></strike></i></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">X.XXX</font></strike></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>
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<td width="26%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:26.86%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">Operating cash cost per pound   of copper products</font></strike></i></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.66%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">$</font></strike></i></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">X.XXX</font></strike></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt .5in;"><font size="1" face="Times New Roman" style="font-size:5.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="1" face="Times New Roman" style="font-size:4.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .65in;text-indent:-.15in;"><i><u><font size="1" color="blue" face="Arial" style="color:blue;font-size:5.0pt;font-style:italic;position:relative;top:-2.0pt;">1</font></u></i><i><u><font size="1" color="blue" face="Arial" style="color:blue;font-size:8.0pt;font-style:italic;">&#160;&#160; This is a non-GAAP measure.&#160; Please see pages&nbsp;XX and XX for further detail.</font></u></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">&nbsp;</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">20XX compared with 20XX:</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">As seen on the chart above, operating cash cost per pound of copper <strike><font color="red" style="color:red;">before by-product credits</font></strike> was X.X cents per pound higher than in 20XX, an increase of X.X%, mainly due to increases in fuel and power cost.<strike><font color="red" style="color:red;">&nbsp; Operating cash cost per pound, net of by-product credits, was XX.X cents per pound higher than in 20XX, largely as a result of lower prices for our major by-products, which decreased between 11% and 18% in the period.</font></strike></font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">20XX compared with 20XX:</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">Our cash cost per pound<strike><font color="red" style="color:red;"> , excluding by-product revenues,</font></strike> was higher by XX.X cents per pound in 20XX, compared with 20XX, principally due to higher production cost, mainly power and fuel cost due to increased market prices, labor due to salary increases and repair costs, partially offset by the higher production from the Buenavista mine.</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">Our cash cost per pound for 20XX when calculated with by-product revenues was XX.X cents per pound, compared with XX.X cents per pound in 20XX.&nbsp; The increase was due to some cost inflation, mainly fuel and power and lower by-product credit largely due to lower molybdenum sales volume and price</font></strike></i><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">.</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">&nbsp;</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">Not included in the cash cost disclosed in the above chart is the value of by-product</font></u></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">4<a name="PB_4_013250_2897"></a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">SOUTHERN COPPER CORPORATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">1440 E. Missouri Avenue, Suite&nbsp;160, Phoenix, AZ 85014</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">Phone: 1 (602) 264-1375&#160; -&#160; Fax: 1 (602) 264-1397</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">www.southerncoppercorp.com</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:11.0pt;">Executive   Presidency</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">revenues. The practice of offsetting by-product revenues against operating cash cost per pound is common practice in the copper industry. The copper industry uses the measure to make investment decisions and monitor performance.&#160; By-product revenues amounted to $X.XXX million, $X.XXX million and $X.XXX million and X.XXX cents, X.XXX cents and X.XXX cents on a per pound of copper produced basis for 20XX, 20XX and 20XX, respectively. The major components of these revenues include sales of molybdenum, silver, zinc and sulfuric acid.&#160; As the value of by-product revenues is tied directly to the sales price of these commodities, the value of the contribution can be very volatile.</font></u></i><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">&#148;</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><u><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">Form&nbsp;10-Q</font></u></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">&#147;<u>Operating Cash Costs:</u> An overall benchmark used by us and a common industry metric to measure performance is operating cash costs per pound of copper produced.&nbsp; Operating cash cost is a non-GAAP measure that does not have a standardized meaning and may not be comparable to similarly titled measures provided by other companies. <u><font color="blue" style="color:blue;">This non-GAAP information should not be considered in isolation or as substitute for measures of performance determined in accordance with GAAP. </font></u>A reconciliation of our operating cash cost per pound to the cost of sales (exclusive of depreciation, amortization and depletion) as presented in the condensed consolidated statement of earnings is presented below under the subheading, &#147;Non-GAAP Information Reconciliation.&#148;</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">We have defined operating cash cost per pound <u><font color="blue" style="color:blue;">of copper produced </font></u>as cost of sales (exclusive of depreciation, amortization and depletion), less the cost of purchased concentrates, plus selling, general and administrative charges, treatment and refining charges<strike><font color="red" style="color:red;">, net revenue (loss) on sale of metal purchased from third parties and by-product revenues</font></strike>, and sales premiums; less workers&#146; participation and other miscellaneous charges, including the Peruvian royalty charge, <strike><font color="red" style="color:red;">the special mining tax </font></strike>and the change in inventory levels; divided by total pounds of copper produced by our own mines.&nbsp; <strike><font color="red" style="color:red;">In our calculation of operating cash cost per pound of copper produced, we credit against our costs the revenues from the sale of by-products: molybdenum, zinc, silver, gold and other minor by-products and the premium over market price that we receive on copper sales.&nbsp; We account for the by-product revenues in this way because we consider our principal business to be the production and sale of copper.&nbsp; We believe that our Company is viewed by the investment community as a copper company, and is valued, in large part, by the investment community&#146;s view of the copper market and our ability to produce copper at a reasonable cost.&nbsp; The variation in recent years in the price of molybdenum, as well as variations in the prices of silver and zinc, have had a significant effect on our traditional calculation of cash cost and its comparability between periods.&nbsp; Accordingly, we present cash costs with and without crediting the by-product revenues against our costs.</font></strike></font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">5<a name="PB_5_012730_7056"></a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">SOUTHERN COPPER CORPORATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">1440 E. Missouri Avenue, Suite&nbsp;160, Phoenix, AZ 85014</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">Phone: 1 (602) 264-1375&#160; -&#160; Fax: 1 (602) 264-1397</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">www.southerncoppercorp.com</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
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<td width="36%" style="padding:0in 0in 0in 0in;width:36.78%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:11.0pt;">Executive   Presidency</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">In conjunction with the review of our operating cash costs, please also see our annual report on Form&nbsp;10-K for the year ended December&nbsp;31, 2012, wherein Part&nbsp;II (Item 7, Key matters), we discuss our rationale for calculating operating cash costs.</font></strike></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">Our operating cash cost<strike><font color="red" style="color:red;">s</font></strike> per pound<u><font color="blue" style="color:blue;"> of copper produced</font></u>, as defined<u><font color="blue" style="color:blue;"> above</font></u>, <strike><font color="red" style="color:red;">are </font></strike><u><font color="blue" style="color:blue;">is </font></u>presented in the table below<u><font color="blue" style="color:blue;"> for the three and six months ended June&nbsp;30, 20XX and 20XX</font></u>.</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><u><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">Operating Cash Cost per Pound of Copper produced</font></u></i><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;"> (in millions, except cost per<br> pound and percentages)</font></u></i></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="17%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><i><font size="2" color="red" face="Times New Roman" style="color:red;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="36%" colspan="5" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:36.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-style:italic;font-weight:bold;">Three&nbsp;months&nbsp;ended&nbsp;June&nbsp;30,</font></u></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="42%" colspan="9" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:42.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-style:italic;font-weight:bold;">Six&nbsp;months&nbsp;ended&nbsp;June&nbsp;30,</font></u></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>   </tr>
<tr>
<td width="17%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><i><font size="2" color="red" face="Times New Roman" style="color:red;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="13%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" color="red" face="Times New Roman" style="color:red;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="12%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" color="red" face="Times New Roman" style="color:red;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="16%" colspan="3" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:16.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" color="red" face="Times New Roman" style="color:red;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="8%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:8.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="8%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:8.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="14%" colspan="3" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>   </tr>
<tr>
<td width="17%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><i><strike><font size="2" color="red" face="Times New Roman" style="color:red;font-size:11.0pt;font-style:italic;font-weight:bold;">(cents&nbsp;per&nbsp;pound)</font></strike></i></b></p>    </td>
<td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="13%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><strike><font size="2" color="red" face="Times New Roman" style="color:red;font-size:11.0pt;font-style:italic;font-weight:bold;">Without<br>   by-product<br>   revenue</font></strike></i></b><b><i><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-style:italic;font-weight:bold;">20XX</font></u></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="12%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:12.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><strike><font size="2" color="red" face="Times New Roman" style="color:red;font-size:11.0pt;font-style:italic;font-weight:bold;">By-product<br>   revenue</font></strike></i></b><b><i><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-style:italic;font-weight:bold;">20<br>   XX</font></u></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="16%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><strike><font size="2" color="red" face="Times New Roman" style="color:red;font-size:11.0pt;font-style:italic;font-weight:bold;">Including<br>   by-product<br>   revenue</font></strike></i></b><b><i><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-style:italic;font-weight:bold;">Varianc<br>   e</font></u></i></b><b><i><strike><font size="2" color="red" face="Times New Roman" style="color:red;font-size:11.0pt;font-style:italic;font-weight:bold;">)</font></strike></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-style:italic;font-weight:bold;">20XX</font></u></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-style:italic;font-weight:bold;">20XX</font></u></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>
<td width="14%" colspan="3" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-style:italic;font-weight:bold;">Variance</font></u></i></b></p>    </td>
<td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>    </td>   </tr>
<tr>
<td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-weight:bold;">Value</font></u></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-weight:bold;">%</font></u></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-weight:bold;">Value</font></u></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="6%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:6.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" color="blue" face="Times New Roman" style="color:blue;font-size:11.0pt;font-weight:bold;">%</font></u></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">1Q   20XX</font></strike></i></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="13%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="6%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">Total operating cash cost</font></u></i><i><u><font size="1" color="blue" face="Arial" style="color:blue;font-size:5.5pt;font-style:italic;position:relative;top:-4.0pt;">1</font></u></i></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">$&nbsp;XXX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">$&nbsp;XXX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X%</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">$&nbsp;XXX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">$&nbsp;XXX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">%</font></u></i></p>    </td>   </tr>
<tr>
<td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">Total pounds of copper produced</font></u></i></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XXX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XXX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X%</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XXX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XXX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">%</font></u></i></p>    </td>   </tr>
<tr>
<td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">Operating cash cost per pound1</font></u></i></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">$&nbsp;X.XX</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">$&nbsp;X.XX</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X%</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">$&nbsp;X.XX</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">$&nbsp;X.XX</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">XX.X</font></u></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">%</font></u></i></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><i><u><font size="1" color="blue" face="Arial" style="color:blue;font-size:4.0pt;font-style:italic;position:relative;top:-4.0pt;">1</font></u></i><i><u><font size="1" color="blue" face="Arial" style="color:blue;font-size:8.0pt;font-style:italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This is a non-GAAP   measure.&nbsp; Please see pages&nbsp;XX and   XX for further detail.</font></u></i></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">4Q 20XX</font></strike></i></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>
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<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;">-</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="13%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;">-</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;">-</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;">-</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="6%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>
<tr>
<td width="17%" valign="top" style="padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">Variance:   1QXX vs. 1QXX</font></strike></i></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="13%" valign="bottom" style="padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">XX.X%</font></strike></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="12%" valign="bottom" style="padding:0in 0in 0in 0in;width:12.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">(XX.X)%</font></strike></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">XX.X%</font></strike></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="7%" valign="bottom" style="padding:0in 0in 0in 0in;width:7.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="6%" valign="bottom" style="padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>
<tr>
<td width="17%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">Variance:   1QXX vs. 4QXX</font></strike></i></p>    </td>
<td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="13%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:13.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">XX.X%</font></strike></i></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="6%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:6.0%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
<td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.5%;">
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="red" face="Arial" style="color:red;font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:2.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">As seen in the table above, our cash cost, excluding by-product revenues, was higher by 15 cents per pound or 8.2% in the first quarter 2013 compared to the first </font></strike></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">6<a name="PB_6_014342_5335"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">SOUTHERN COPPER CORPORATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">1440 E. Missouri Avenue, Suite&nbsp;160, Phoenix, AZ 85014</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">Phone: 1 (602) 264-1375 &#160;-&#160; Fax: 1 (602) 264-1397</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">www.southerncoppercorp.com</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:11.0pt;">Executive   Presidency</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Arial" style="font-size:11.0pt;font-style:italic;">&nbsp;</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">quarter of 2012 due to higher production cost, mainly labor, fuel and operating material costs and lower copper production which increased the per pound cost.</font></strike></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;">-</font></p>
<p style="margin:0in 0in .0001pt .5in;"><i><strike><font size="2" color="red" face="Arial" style="color:red;font-size:11.0pt;font-style:italic;">In addition, our per pound cash cost for the three months ended March&nbsp;31, 2013 when calculated with by-product revenues is 91.4 cents per pound compared with 53.7 cents per pound in the same period of 2012.&nbsp; The increase of 37.7 cents per pound or 70.2% was primarily result of the noted increases in production costs and lower prices for our major by-products.</font></strike></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="1" face="Arial" style="font-size:8.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">Our operating cash cost per pound of copper produced for the second quarter of 20XX was about XX cents higher than in the second quarter of 20XX.&#160; This increase in cost was largely attributable to cost inflation which increased most of the inputs to our production process and higher labor cost due to wage increases for our Peruvian unionized workers.&#160; In addition, a X.X% decrease in copper production in the second quarter of 20XX as compared to the second quarter of 20XX, added to the increase in unit cost.</font></u></i></p>
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<p style="margin:0in 0in .0001pt .5in;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">The operating cash cost per pound of copper produced in the six month period of 20XX increased by XX.X cents over the comparable in 20XX for much of the same reasons that affected the second quarter comparison. However, as the percentage production decrease in the period was somewhat less than the second quarter, a decrease of X.X% for the six month period, as compared to the second quarter decrease of X.X%, the unitary decrease was lessened.</font></u></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;"><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">Not included in the cash cost disclosed in the above chart is the value of by-product </font></u></i><i><u><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">revenues. The practice of offsetting by-product revenues against operating cash cost per pound is common practice in the copper industry. The copper industry uses the measure to make investment decisions and monitor performance. In the second quarter of 20XX and 20XX, by-product revenues amounted to $XXX million, and $XXX million and XXX.X cents and XXX.X cents on a per pound of copper produced basis, respectively. In the first six months of 20XX and 20XX by-product revenues amounted to $XXX million and $XXX million and XXX.X cents and XXX.X cents on a per pound of copper produced basis, respectively. The major components of these revenues include sales of molybdenum, silver, zinc and sulfuric acid. As the value of by-product revenues is tied directly to the sales price of these commodities, the value of the contribution can be very volatile.</font></u></i><i><font size="2" color="blue" face="Arial" style="color:blue;font-size:11.0pt;font-style:italic;">&#148;</font></i></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">2.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Please revise your Form&nbsp;10-Q to conform to changes made as a result of our comment above.</font></b></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:11.0pt;">We appreciate the Commission&#146;s comment and kindly refer the Commission to our response to comment 1 above.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">7<a name="PB_7_014705_2897"></a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">SOUTHERN COPPER CORPORATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">1440 E. Missouri Avenue, Suite&nbsp;160, Phoenix, AZ 85014</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">Phone: 1 (602) 264-1375&#160; -&#160; Fax: 1 (602) 264-1397</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">www.southerncoppercorp.com</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:11.0pt;">Executive   Presidency</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-16.35pt;"><b><u><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Closing Comments</font></u></b></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-16.35pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:11.0pt;">Should you have any questions about the responses in this letter, kindly contact our Chief Financial Officer, Mr.&nbsp;Raul Jacob, at +(602) 264-1375 option 1 (Rjacob@southernperu.com.pe) or our General Counsel, Mr.&nbsp;Javier Gomez, at +52-55-1103-5127 (Javier.Gomez@mm.gmexico.com).</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:11.0pt;">Very truly   yours,</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="40%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:40.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:11.0pt;">/s/ Oscar   Gonzalez Rocha</font></p>    </td>
<td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="40%" valign="top" style="padding:0in 0in 0in 0in;width:40.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:11.0pt;">Oscar   Gonzalez Rocha</font></p>    </td>
<td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="29%" valign="top" style="padding:0in 0in 0in 0in;width:29.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="40%" valign="top" style="padding:0in 0in 0in 0in;width:40.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:11.0pt;">President   and Chief Executive Officer</font></p>    </td>
<td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">8<a name="PB_8_014852_3020"></a></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Arial" style="font-size:9.0pt;font-weight:bold;">SOUTHERN COPPER CORPORATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">1440 E. Missouri Avenue, Suite&nbsp;160, Phoenix, AZ 85014</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">Phone: 1 (602) 264-1375&#160; -&#160; Fax: 1 (602) 264-1397</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">www.southerncoppercorp.com</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Arial" style="font-size:9.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
