Company: SCCO
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001558370-25-005975
Chunk: 17

Company: SOUTHERN COPPER CORP/
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 3Q
Chunk 17
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1Devaluation of 10% in U.S. dollar vs. Peruvian sol​$ (18.5)Appreciation of 10% in U.S. dollar vs. Mexican peso​$ (3.2)Devaluation of 10% in U.S. dollar vs. Mexican peso​$ 3.9

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Open sales risk:

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Our provisional copper and molybdenum sales contain an embedded derivative that is required to be separate from the host contract for accounting purposes. The host contract is the receivable from the sale of copper and molybdenum concentrates at prevailing market prices at the time of the sale. The embedded derivative, which does not qualify for hedge accounting, is marked to market through earnings each period prior to settlement. See Note 13 to our condensed consolidated financial statements for further information about these provisional sales.

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