Company: SCCO
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001558370-25-004735
Chunk: 44

Company: SOUTHERN COPPER CORP/
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 44
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 el RetiroS.A.P.I. de C.V. (“Eolica El Retiro”), a windfarm with 37 wind turbines.This company started operations in January 2014 and began to sell power to Industrial Minera Mexico, S.A. de C.V. and

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subsidiaries (“IMMSA”) and other subsidiaries of Grupo Mexico in the third quarter of 2014. In 2024, Eolica El Retiro supplied approximately 25.5% of its power output to IMMSA and Mexcobre, both subsidiaries of the Company; compared to 12% in 2023. Our Mexican operations purchased power from EolicaEl Retirofor $4.9 million in 2024.

In 2020, the Company signed a power purchase agreement with Parque Eolico de Fenicias, S. de R.L. de C.V. (“Parque Eolico de Fenicias”), an indirect subsidiary of Grupo Mexico, located in Nuevo Leon, Mexico. This contract commits to supply 611,400 MWh of power per year to some of the Company´s Mexican operations for 20 years. This agreement started in the third quarter of 2024. In 2024, Parque Eolico de Fenicias supplied approximately 58.6% of its power output to IMMSA. Our Mexican operations purchased power from Parque Eolico de Feniciasfor $12.4 million in 2024.

In 2024, the Company’s Mexican operations purchased $4.7 million in copper concentrates, starter sheets, cathodes, bars and a fixed assetand tolling fees from Asarco LLC, a subsidiary of Grupo Mexico. In 2024, the Company sold $38.0 million incopper starter sheets, sulfuric acid and lime, also received fees for transportation and administrative services that were provided to Asarco LLC.

In 2024, the Company donated $2.6 million to Fundacion Grupo Mexico, A.C., an organization dedicated to promoting the social and economic development of the communities close to the Company’s Mexican operations.

The Larrea family controls a majority of the capital stock of Grupo Mexico, and has extensive interests in other businesses, including transportation, aviation, entertainment and real estate. The Company engages in certain transactions in the ordinary course of business with other entities controlled by the Larrea family relating to the lease of office space, air transportation and entertainment services.

In 2024