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STOCKHOLDERS' EQUITY: (Tables) | 6 Months Ended
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Jun. 30, 2015
STOCKHOLDERS' EQUITY |
Schedule of activity in treasury stock | Activity in treasury stock in the six-month period ended June 30, 2015 and 2014 is as follows (in millions):
|  | 2015 |  | 2014 |
Southern Copper common shares |  |  |  |  |
Balance as of January 1, |  | $ | 1,693.5 |  | $ | 1,011.0 |
Purchase of shares |  | 414.6 |  | 65.5 |
Used for corporate purposes |  | (0.4 | ) | (0.3 | )
Balance as of June 30, |  | 2,107.7 |  | 1,076.2 |
Parent Company (Grupo Mexico) common shares |  |  |  |  |
Balance as of January 1, |  | 207.2 |  | 205.6 |
Other activity, including dividend, interest and currency translation effect |  | (2.5 | ) | 8.8 |
Balance as of June 30, |  | 204.7 |  | 214.4 |
Treasury stock balance as of June 30, |  | $ | 2,312.4 |  | $ | 1,290.6 |
Schedule of share distributions | The following table summarizes share distributions in the first six months of 2015 and 2014:
|  | 2015 |  | 2014 |
Southern Copper common shares |  |  |  |  |
Directors’ Stock Award Plan |  | 13,200 |  | 12,000 |
Parent Company (Grupo Mexico) common shares |  |  |  |  |
Employee stock purchase plan (shares in millions) |  | 0.2 |  | 0.7 |
Schedule of share repurchase program activity |
|  |  |  |  |  |  |  | Total Number of |  | Maximum Number |  |  |
|  |  |  |  |  | Average |  | Shares |  | of Shares that May |  |  |
|  |  |  | Total Number |  | Price |  | Purchased as |  | Yet Be Purchased |  |  |
Period |  | of Shares |  | Paid per |  | Part of Publicly |  | Under the Plan |  | Total Cost |
From |  | To |  | Purchased |  | Share |  | Announced Plan |  | @ $29.41 (*) |  | ($ in millions) |
2008 |  | 2012 |  | 46,914,486 |  | $ | 18.72 |  | 46,914,486 |  |  |  | $ | 878.1 |
2013 |  |  |  | 10,245,000 |  | 27.47 |  | 57,159,486 |  |  |  | 281.4 |
2014 |  |  |  | 22,711,428 |  | 30.06 |  | 79,870,914 |  |  |  | 682.8 |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |
01/01/15 |  | 01/31/15 |  | 5,927,154 |  | 27.12 |  | 85,798,068 |  |  |  | 160.7 |
02/01/15 |  | 02/28/15 |  | 2,590,076 |  | 29.45 |  | 88,388,144 |  |  |  | 76.3 |
03/01/15 |  | 03/31/15 |  | 4,563,649 |  | 29.16 |  | 92,951,793 |  |  |  | 133.1 |
Total first quarter |  |  |  | 13,080,879 |  | 29.29 |  |  |  |  |  | 370.1 |
04/01/15 |  | 04/30/15 |  | 1,511,200 |  | 29.42 |  | 94,462,993 |  |  |  | 44.5 |
Total second quarter |  |  |  | 1,511,200 |  | 29.42 |  |  |  |  |  | 44.5 |
|  |  |  |  |  |  |  |  |  | 25,269,210 |  |  |
Total purchased |  |  |  | 94,462,993 |  | $ | 23.89 |  |  |  |  |  | $ | 2,256.9 |
(*) NYSE closing price of SCC common shares at June 30, 2015.
Schedule of activity in Directors' Stock Award Plan |
|  | 2015 |  | 2014 |
Total SCC shares reserved for the plan |  | 600,000 |  | 600,000 |
Total shares granted at January 1, |  | (309,600 | ) | (297,600 | )
Granted in the period |  | (13,200 | ) | (12,000 | )
Total shares granted at June 30, |  | (322,800 | ) | (309,600 | )
Remaining shares reserved |  | 277,200 |  | 290,400 |
Employee Stock Purchase 2007 Plan |
STOCKHOLDERS' EQUITY |
Schedule of stock award activity |
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2015 |  | 4,298,612 |  | $ | 1.16 |
Granted |  | — |  | — |
Exercised |  | (4,128,970 | ) | 1.16 |
Forfeited |  | — |  | — |
Outstanding shares at June 30, 2015 |  | 169,642 |  | $ | 1.16 |
Outstanding shares at January 1, 2014 |  | 4,449,599 |  | $ | 1.16 |
Granted |  | — |  | — |
Exercised |  | (58,663 | ) | 1.16 |
Forfeited |  | — |  | — |
Outstanding shares at June 30, 2014 |  | 4,390,936 |  | $ | 1.16 |
Employee Stock Purchase 2010 Plan |
STOCKHOLDERS' EQUITY |
Schedule of stock based compensation expense and unrecognized compensation expense | The stock based compensation expense for the first six months of 2015 and 2014 and the unrecognized compensation expense under this plan were as follows (in millions):
|  | 2015 |  | 2014 |
Stock based compensation expense |  | $ | 0.2 |  | $ | 0.1 |
Unrecognized compensation expense |  | $ | 1.9 |  | $ | 2.4 |
Schedule of stock award activity |
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2015 |  | 2,287,891 |  | $ | 2.05 |
Granted |  | — |  | — |
Exercised |  | (20,273 | ) | $ | 2.05 |
Forfeited |  | — |  | — |
Outstanding shares at June 30, 2015 |  | 2,267,618 |  | $ | 2.05 |
Outstanding shares at January 1, 2014 |  | 3,012,464 |  | $ | 2.05 |
Granted |  | — |  | — |
Exercised |  | (669,157 | ) | 2.05 |
Forfeited |  | — |  | — |
Outstanding shares at June 30, 2014 |  | 2,343,307 |  | $ | 2.05 |
Employee Stock Purchase 2015 Plan |
STOCKHOLDERS' EQUITY |
Schedule of stock based compensation expense and unrecognized compensation expense | The stock based compensation expense for the first six months of 2015 and the unrecognized compensation expense under this plan were as follows (in millions):
|  | 2015 |
Stock based compensation expense |  | $ | — |
Unrecognized compensation expense |  | $ | 4.8 |
Schedule of stock award activity |
|  | Shares |  | Unit Weighted Average Grant Date Fair Value |
Outstanding shares at January 1, 2015 |  | — |  |  | — |
Granted |  | 2,652,886 |  | $ | 2.63 |
Exercised |  | — |  | — |
Forfeited |  | — |  | — |
Outstanding shares at June 30, 2015 |  | 2,652,886 |  | $ | 2.63 |
Employee Stock Purchase 2015 Plan | Voluntary Resignation |
STOCKHOLDERS' EQUITY |
Schedule of percentage deduction from the amount to be paid to the employee on termination of service |
If the resignation occurs during: |  | % Deducted |
1st year after the grant date |  | 90 | %
2nd year after the grant date |  | 80 | %
3rd year after the grant date |  | 70 | %
4th year after the grant date |  | 60 | %
5th year after the grant date |  | 50 | %
6th year after the grant date |  | 40 | %
7th year after the grant date |  | 20 | %
Employee Stock Purchase 2015 Plan | Involuntary Termination |
STOCKHOLDERS' EQUITY |
Schedule of percentage deduction from the amount to be paid to the employee on termination of service |
If the termination occurs during: |  | % Deducted |
1st year after the grant date |  | 100 | %
2nd year after the grant date |  | 95 | %
3rd year after the grant date |  | 90 | %
4th year after the grant date |  | 80 | %
5th year after the grant date |  | 70 | %
6th year after the grant date |  | 60 | %
7th year after the grant date |  | 50 | %

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