南方铜业 2026年季度报告

Washington, D.C. 20549 FORM10-Q SOUTHERN COPPER CORPORATION Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files). Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes☐No⌧ As of April 29, 2026, there were outstanding 826,065,041 shares of Southern Copper Corporation common stock, parvalue $0.01 per share. Table of Contents OnApril 13, 2026, we announced the unexpected passing of our former President and CEO, OscarGonzalez Rocha. Over his distinguished 50-year career, Oscar was the cornerstone of our company'sgrowth, guiding us with his vision, leadership, and unwavering commitment. Throughout his tenure asChief Executive Officer, he established a legacy of operational excellence that was instrumental in Southern Copper Corporation (“SCC”) PageNo. Part I. Financial Information Item 1.Condensed Consolidated Financial Statements (Unaudited)Condensed Consolidated Statements of Earnings forthe three-month periods endedMarch 31, 2026 and 2025Condensed Consolidated Statements of Comprehensive Income for the three-month periods ended March 31, 2026 and 2025Condensed Consolidated Balance Sheets as of March 31, 2026 and December31,2025Condensed Consolidated Statements of Cash Flows forthe three-month periodsended March 31, 2026 and 2025Condensed Consolidated Statements of Changes in Equity for the three-monthperiods ended March 31, 2026 and 2025Notes to Condensed Consolidated Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperationsItem 3.Quantitative and Qualitative Disclosure about Market RiskItem 4.Controls and proceduresReport of Independent Registered Public Accounting FirmPart II. Other InformationItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sale of Equity Securities and Use of ProceedsItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.List of ExhibitsSignatures PARTI — FINANCIAL INFORMATION Southern Copper Corporation NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) NOTE 1— DESCRIPTION OF THE BUSINESS: Southern Copper Corporation (“Southern Copper”, "SCC" or the “Company”) is a majority-owned,indirect subsidiary of Grupo Mexico S.A.B. de C.V. (“Grupo Mexico”). As of March31,2026, GrupoMexico, through its wholly-owned subsidiary Americas Mining Corporation (“AMC”) owned 88.9% ofthe Company’s capital stock. The condensed consolidated financial statements presented herein consist ofthe accounts of Southern Copper, a Delaware corporation, and its subsidiaries. The Company is anintegrated producer of copper and other minerals, and operates mining, smelting and refining facilities in In the opinion of the Company, the accompanying unaudited condensed consolidated financial statementscontain all adjustments (consisting only of normal recurring adjustments) necessary to fairly state theCompany’s financial position as of March31,2026 and the results of operations, comprehensive income,cash flows and changes in equity for the three months ended March31,2026 and 2025. The results ofoperations for the three months ended March 31,2026 are not necessarily indicative of the results to beexpected for the full year. The December 31, 2025 balance sheet data was derived from auditedconsolidated financial statements, but does not include all disclosures required by generally accepted NOTE 2 — SHORT-TERM INVESTMENTS: Short-term investments were as follows (in millions): Trading securities consisted of bonds issued by public companies and were publicly traded. Each financialinstrument was independent of the others. The Company had the intention to sell these bonds in the short- Available-for-sale investments consist of securities issued by public companies. Each security isindependent of the others and as of March 31, 2026, and December 31, 2025, included asset and mortgage-backed obligations. As of March 31, 2026, 2025 and December 31, 2025, gross unrealized gains and losses The Company earned interest related to these trading investments, which was recorded as interest incomein the condensed consolidated statement of earnings. Also, the C