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Southern Copper Corporation (NYSE:SCCO), a $68.6 billion market cap leader in the metal mining industry with a strong track record of maintaining dividend payments for 30 consecutive years, announced on April 10, 2025, a key change in its executive team, which was filed with the SEC today. According to InvestingPro data, the company maintains robust financial health with impressive profitability metrics. The company’s Board of Directors has appointed Mr. Juan Fernando Nuñez Chávez as the new Vice President, Explorations. He succeeds Mr. Edgard Corrales, who is transitioning to a new position within the company’s Peruvian branch.
Mr. Nuñez Chávez, 67, brings to the role a wealth of experience, with over four decades in the mining sector, primarily focusing on the exploration of metallic mineral deposits. His academic credentials include a bachelor’s degree from the Universidad Nacional de San Agustín in Arequipa, Peru, and both a Master of Science and a PhD in Geology from the Universidad Nacional de Ingeniería in Lima, Peru.
Before his latest appointment, Mr. Nuñez Chávez has been integral to Southern Peru Copper Corporation’s exploration efforts since 2000. His career has spanned across various roles, including serving as an Exploration Advisor Geologist for multiple mining companies and conducting extensive mineralogical research across Latin America.
In addition to his professional pursuits, Mr. Nuñez Chávez has been an active academic, teaching at both undergraduate and postgraduate levels at notable Peruvian universities. He also held the presidency of the Lima Chapter of Geological Engineers of the College of Engineers of Peru from 2016 to 2018.
The appointment of Mr. Nuñez Chávez is part of Southern Copper’s ongoing commitment to leadership and expertise in the mining sector. This strategic move is expected to support the company’s exploration initiatives and contribute to its growth trajectory, building on its strong 15.5% revenue growth in the last twelve months. With the company’s next earnings report due on April 24, 2025, InvestingPro subscribers can access 10 additional key insights about Southern Copper’s financial outlook and growth potential.
The information for this announcement is based on a press release statement filed with the SEC. The company’s solid operational performance is reflected in its healthy 58.6% gross profit margin and strong return on equity of 41%, suggesting effective management of resources and shareholder value creation.
In other recent news, Southern Copper Corporation has been in the spotlight with several significant developments. UBS analyst Myles Allsop upgraded Southern Copper’s stock rating from Neutral to Buy, setting a price target of $120. This upgrade reflects an optimistic outlook for the company, driven by expectations of a copper market deficit and anticipated volume growth from the Tia Maria project. In addition, Southern Copper’s subsidiary, Minera Mexico, S.A. de C.V., has successfully priced $1 billion in senior notes at an interest rate of 5.625%, maturing in 2032. The proceeds from this offering are intended for capital expenditures and general corporate purposes, highlighting the company’s strategic financial planning. This move is part of an unregistered offering under Rule 144A and Regulation S of the Securities Act of 1933. Southern Copper’s financial maneuvers are aimed at strengthening its operational infrastructure and maintaining flexibility for future opportunities. The company’s recent actions indicate a focus on leveraging market conditions and securing resources for growth.
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