Southern Copper Corporation announced its first‑quarter 2025 financial results, reporting net sales of $3.12 billion—up 20.1% from $2.48 billion in Q1 2024—thanks to a 20% rise in copper, 16% in zinc, 38% in silver, and 10% in molybdenum prices.
Net income climbed to $945.9 million, a 28.5% increase year‑over‑year, while adjusted EBITDA rose 23.1% to $1.75 billion. The company’s operating cash cost per pound of copper fell 28.4% to $0.77, driven by lower operating costs and higher by‑product revenues.
Production volumes were largely flat for copper but grew for zinc (+49%), molybdenum (+9%), and silver (+14%). The Buenavista zinc concentrator was a key contributor to the zinc surge, and the Los Chancas project faced a temporary disruption from illegal mining activity.
Management highlighted a disciplined cost‑control program that kept operating margins at 30% versus 28% in the prior year, and it reiterated confidence in sustaining profitability through 2025. The company also announced a quarterly cash dividend of $0.70 per share and a stock dividend of 0.0099 shares per share, payable in May.
Looking ahead, Southern Copper reaffirmed its full‑year 2025 guidance, maintaining revenue and operating income targets while signaling a cautious outlook for the remainder of the year amid a “commercial war” between the U.S. and China that could dampen global copper demand.
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