Southern Copper subsidiary raises $1.25B bond for Tía María copper project

SOUTHERN COPPER CORP/

• Bond offering at 5.35% annual interest, maturing in 2036, primarily to develop the Tía María project.
• Tía María expected to produce 120k metric tons refined copper per year; operations start Q3 2027.
• Total project capital budget $1.8B; $948M already committed; 5,300 jobs created to date.
• At current copper prices, project expected to generate ~$24.1B exports and $6.2B in taxes/royalties over 20 years.