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Get filing alertsSouthern Copper raises $1.25B in bonds to fund Tía María copper project in Peru
Filed June 26, 2026 · Period ending June 24, 2026 · ~1 min read
Key Changes
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Southern Peru Copper secured $1.25 billion through a New York bond offering at 5.35% annual interest (maturing 2036) to finance the Tía María copper mining project, which is expected to begin operations in Q3 2027.
Item 8.01 — Other Events verify on EDGAR → -
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Tía María will produce 120,000 metric tons of refined copper annually using advanced extraction technology. The project has a $1.8 billion total capital budget, with $948 million already committed.
Exhibit 99.1 view on EDGAR → -
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Over its first 20 years at current copper prices, Tía María is projected to generate $24.1 billion in exports and contribute $6.2 billion in taxes and royalties to Peru's Arequipa region.
Exhibit 99.1 view on EDGAR → -
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The company is also advancing the Michiquillay project in Cajamarca, expected to produce 225,000 metric tons of copper annually starting in 2032, requiring approximately $2.5 billion in investment.
Exhibit 99.1 view on EDGAR →
Summary
Southern Copper's Peruvian subsidiary completed a $1.25 billion bond offering in the New York market to finance development of the Tía María copper mining project. The bonds carry a 5.35% annual interest rate and mature in 2036.
This represents a significant capital commitment to expand the company's production capacity in Peru, with the project more than halfway funded ($948 million of $1.8 billion total budget already committed). Tía María is expected to begin operations in Q3 2027 and will produce 120,000 metric tons of refined copper annually using state-of-the-art extraction technology.
At current copper prices, the project is projected to generate $24.1 billion in exports and $6.2 billion in taxes and royalties over its first 20 years. The project has already created 5,300 jobs, primarily for local workers. For investors, this financing locks in the capital structure for a major growth project that will meaningfully expand Southern Copper's production profile. The company also disclosed progress on the larger Michiquillay project (225,000 metric tons annual capacity, $2.5 billion investment, 2032 target start), signaling a multi-year expansion pipeline in Peru's copper sector.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Southern Peru Copper Corporation (“SPCC”), the Peruvian branch of Southern Copper Corporation issued a press release announcing that it raised US $1.25 billion for the development of the Tía María mining project through a bond offering in the New York market.
The company's Peruvian subsidiary completed a $1.25 billion bond offering in New York to finance development of the Tía María mining project. This represents a significant capital raise dedicated to a specific project expansion.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Tía María project will have an annual production capacity of 120,000 metric tons of refined copper. The project will employ state-of-the-art SX-EW (Solvent Extraction and Electrowinning) technology, which meets the highest international environmental standards. Tía María is expected to begin operations in the third quarter of 2027. To date, the project has generated 5,300 jobs, many of which have been filed by local workers.
The Tía María project will produce 120,000 metric tons of refined copper annually using advanced extraction technology. Operations are expected to begin in Q3 2027. The project has already created 5,300 jobs, primarily for local workers.
Added in current filing · view on EDGAR →
During its first 20 years of operation, Tía María is expected to generate significant economic benefits for the Arequipa region. At current copper prices, the project is expected to generate approximately US $24.1 billion in exports and contribute US $6.2 billion in taxes and royalties. The project's total capital budget is US $1.8 billion, of which US $948 million has already been committed.
Over its first 20 years, the project is projected to generate $24.1 billion in exports and $6.2 billion in taxes and royalties at current copper prices. The total capital budget is $1.8 billion, with $948 million already committed, indicating the project is over halfway funded.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 26, 2026 · How we verify