PALOMINO BONILLA LUIS MIGUEL sold $21K of SCCO

Grupo México plans to invest $4B-$6B in its U.S. unit, Asarco, to expand copper mining and restart a smelter. Freeport-McMoRan (FCX) and Southern Copper (SCCO) reported strong Q2 earnings, driven by AI and data center demand. GE Vernova (GEV), Eaton (ETN), and Hubbell (HUBB) also benefit from infrastructure investments, with mixed stock performance.

Southern Copper (NYSE, BVL: SCCO) is considering a $680M expansion of its Cuajone mine in Peru to boost capacity by 33% and offset declining ore grades. The project aims to produce 55,000 tonnes of copper annually, with a final decision expected in early 2027. The company's shares were trading at $183.28, with a market cap of $154.7B. Southern Copper's production fell 2.9% in the first nine months of 2026, and it forecasts output of 911,400 tonnes for 2026 and 900,000 tonnes for 2027.

Southern Copper (SCCO) reported Q3 earnings, noting a 77% drop in operating cash cost per pound of copper, net of by-product credits, to $0.09. By-product revenue credits rose 31% to $1.2 billion. The company expects Q4 cash costs to be stable or improve. Expansion projects, including Tía María and El Pilar, aim to boost production. SCCO declared a $1.30 quarterly cash dividend and a 0.0126 stock dividend.

Southern Copper (SCCO) reported Q3 2026 earnings with a 39% sales increase to $4.7B, driven by higher copper prices and by-product revenue. Copper production fell 1% YoY to 232,396 tons, while adjusted EBITDA rose 54% to $3B. Net income reached $1.8B, up 63% YoY. The company expects 2026 copper production of 918,000 tons, a 0.7% increase over initial plans.

Southern Copper (NYSE: SCCO) is considering a $680M expansion of its Cuajone mine in Peru to boost capacity and offset declining ore grades. The project could increase milling capacity by 33%, with projected annual production of 55,000 tonnes of copper. The company's production fell 2.9% in the first nine months of 2026 due to lower ore grades. Southern Copper also has other projects in development, including the $1.8B Tia Maria mine, expected to start operations in 2028.

Grupo México reported a 62.9% rise in Q3 profit to US$1.97B, beating forecasts. Revenue increased 37.9% to US$6.33B, driven by higher metal prices and lower production costs. The company owns Southern Copper (NYSE-listed) and Asarco, with significant US operations. Copper production fell 1.9%, but railway and power divisions showed growth. The board declared a share dividend of 1:194, payable in November 2026.