Southern Copper earnings surge 67% on copper, silver price boom; Tia Maria 33% complete

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 30, 2025 · ~2 min read

Key Changes

• high

  Net income jumped 66.7% to $1.58B as copper prices rose 37.5% (LME) and silver soared 157.9% to $83.33/oz, driving operating cash cost net of by-products to negative $0.11/lb—a credit for the first time.

  MD&A: Financial Results verify on EDGAR →
• high

  Silver overtook molybdenum as top by-product, now 12.5% of sales (vs. 5.7% prior year), materially improving unit economics as by-product revenues per pound surged 87.4% to $2.41.

  MD&A: By-Product Revenue verify on EDGAR →
• high

  Tia Maria construction reached 32.5% complete with $948M committed; 4,207 jobs created; major equipment ordered; on track for 3Q27 startup adding 120,000 tonnes/year copper capacity.

  MD&A: Tia Maria Project verify on EDGAR →