Southern Copper Corporation is a mining company that was founded in 1952. The current incarnation of Southern Copper can be traced to the 2005 acquisition of Southern Peru Copper Corporation by the Mexican copper producer Minera México.
30-406: 88.9 percent of Southern Copper is owned by Mexican mining conglomerate Grupo México (per proxy statement dated March 27, 2018) . Based on 2007 reserves data, Southern Copper is the world's largest publicly traded copper mining company and the world's seventh largest copper mining company based on 2007 sales. In addition, the firm is the eighth largest copper smelting company. The firm ranks among
60-459: A coal mine in San Juan de Sabinas , Coahuila , that is owned by Grupo México. It was reported that mine workers had gone on strike against Grupo México at least 14 times, "not only for salary increases… but because of its constant refusal to review security and health measures." Grupo México said that they, in conjunction with the mining union, signed a certificate on February 7, 2006, declaring
90-626: A printing and publishing company in 1978, remaining as the chairman and CEO until 1989, when the company was sold. He is also a director of Banco Nacional de Mexico , which forms part of Grupo Financiero Banamex , Consejo Mexicano de Hombres de Negocios, and Grupo Televisa . According to Forbes , he was the second richest man in Mexico, after Carlos Slim , in 2015, 2016, and 2021. In November 2020, Larrea Mota-Velasco sold 100,000 shares in Southern Copper Corporation for
120-586: A significant player in the mining industry, responsible for 87.5 percent of Mexico's copper production by 2000. The company has faced ongoing conflict with the Mexican Mine Workers' Union and acquired a controlling interest in Southern Peru Copper Corporation in 2004. A litigation over the equity sale of SPCC is ongoing, with Grupo México's $ 2.5 billion bid for ASARCO recommended for acceptance in 2009. The company
150-480: A trust fund was created to assist the damaged population, complains about its management and proper ecological cleaning have been expressed. A second spillage, this time sulfur dioxide , was reported. Grupo México reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 5,810 Kt (-560 /-8.8% y-o-y). This follows a 19% reduction in 2019. German Larrea Mota Velasco Germán Larrea Mota-Velasco (born October 26, 1953)
180-606: Is Grupo México's largest division, operating 14 mines and 52 plants in Mexico, Peru, USA, Argentina, Chile, Ecuador and Spain. The division operates as Americas Mining Corporation, whose main subsidiaries are Southern Copper Corporation in México and Perú, ASARCO (American Smelting and Refining Company) in the United States and Minera Los Frailes in Spain. Grupo México is the largest mine operator in Mexico and Peru, along with
210-548: Is a Class II railroad operating in the U.S. state of Texas , operating 605 kilometres (376 mi) of track connecting San Angelo and the Mexican border town of Presidio . Texas Pacífico interchanges cars from Ferromex at the Presidio–Ojinaga International Rail Bridge with two major US Class I railways: BNSF at San Angelo and Union Pacific at Alpine . Texas Pacífico won the operating lease for
240-494: Is a Mexican billionaire businessman. He is the CEO of Grupo México , Mexico's largest mining corporation, and the third largest copper producer in the world. As of July 2022, his net worth was estimated at US$ 24.6 billion. Larrea Mota-Velasco has been chairman, president and CEO of Grupo Mexico since 1994. He was previously executive vice chairman of Grupo Mexico and has been a director since 1981. He has served as chairman of
270-526: Is among the world's largest copper mines in terms of reserves, and has the longest remaining mine life of any major open-pit copper mine in the world, based on current production levels. La Caridad Mine , located in northern Mexico, produced 124,972 tons of copper in 2007. Grupo M%C3%A9xico Grupo México is a Mexican conglomerate that operates through the following divisions: Mining (Minera Mexico), Transportation ( GMxT ), Infrastructure and Fundacion Grupo Mexico. Founded in 1978, Grupo México became
300-601: Is the largest mine operator in Mexico and Peru, and the third largest in the United States. It is the fourth largest copper producer worldwide and controls the largest copper reserves globally. Grupo México operates the second largest transportation division in Mexico and the U.S. states of Texas and Florida, owning several entities that collectively operate over 11,000 kilometers of track, connecting major cities, ports, and border crossings, and manage 40 intermodal freight facilities across Mexico. ASARCO has been held responsible for environmental pollution at 20 Superfund sites across
330-746: The Cananea branch of the Mexican Mine Workers' Union (SNTMMSRM). During miners' strikes in January 2003 and October 2004, Grupo México responded with threats to close the Cananea mines. In 2004, Grupo México purchased a controlling interest in the Southern Peru Copper Corporation . Grupo Mexico acquired 54.2% equity interest in Southern Peru Copper Corporation from ASARCO LLC, a mining company operating in
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#1732780629697360-479: The Southern Copper Corporation since December 1999, CEO from December 1999 to October 2004, and as a director since November 1999. He has been chairman and CEO of Grupo Ferroviario Mexicano since 1997. He has been chairman and CEO of Empresarios Industriales de Mexico, Compania Perforadora Mexico, Mexico Compania Constructora, and Fondo Inmobiliario since 1992. He founded Grupo Impresa,
390-612: The EIA approval was received on August 1, 2014, with directorial resolution Nº392-2014-MEM/DGA-AM given by MINEM. The social protest against the project started in March 2015, causing tens of injuries and up to the beginning of May 2015, two deaths have also led to massive strikes and road blocks in the region. Local farmers fear the open-pit project will contaminate water supplies and cover their crops in dust. The Cananea Mine , located in northern Mexico, produced 98,503 tons of copper in 2007. It
420-535: The Northwest Railroad concession during the privatization of railroads in Mexico . Groupo México owns 74% of Ferromex and Union Pacific owns the remaining 26%. Ferrosur is the smallest of Mexico's mainline railroads, operating 2,654 kilometres (1,649 mi) of tracks between Mexico City and the Gulf of Mexico port of Veracruz . Ferrosur was created in 2000 from the two southern concessions created during
450-551: The SIPS 2014/Shechtman International Symposium to accept this award on the company's behalf. The firm's operations are primarily within southern Peru and northern Mexico. Southern Peruvian operations include the mines located at the Cuajone and Toquepala mines . The two mines produced a total of 359,655 tons of copper in 2007, with Cuajone producing 182,117 tons and Toquepala producing 177,538 tons respectively. A recent strike at
480-573: The U.S. by the Environmental Protection Agency . Those sites are: On July 9, 2019, 3,000 liters of sulfuric acid spilled into the Sea of Cortés from Grupo México-owned pipes near the city of Guaymas , in northwestern Mexico. Three people were injured, and videos appeared online documenting the "sad and harrowing" local damage to marine wildlife as a consequence of the spill. On February 19, 2006, an explosion occurred in
510-701: The U.S. by the Environmental Protection Agency. Grupo México, ASARCO's owner, has also faced environmental issues in Mexico, including a sulfuric acid spill into the Sea of Cortés, the Pasta de Conchos mine disaster, and the Rio Sonora spill. Despite these incidents, Grupo México reported a decrease in total CO2e emissions for the year ending December 2020. The company was founded by Raúl Antonio Escobedo and Larrea Mota Velasco in 1978. After
540-495: The U.S. states of Texas and Florida. The division operates as GMéxico Transportes, S.A.B. de C.V. (GMXT). Ferromex is the largest (by length) railway in Mexico, operating 9,610 kilometres (5,970 mi) of track connecting Mexico City and Guadalajara with the Pacific port of Manzanillo and various crossings along the United States border. The railroad was founded in 1998 when Grupo México and Union Pacific Railroad purchased
570-698: The United States. The SPCC equity sale is subject to a litigation between Grupo Mexico and ASARCO pending in the U.S. District Court for the Southern District of Texas under District Court Judge Andrew Hanen. As of September 2009, ASARCO was the focus of a bidding war begun in May 2008 between its own parent company Grupo México and India-based Sterlite Industries . On August 31, 2009, U.S. Bankruptcy Judge Richard Schmidt recommended that U.S. District Judge Andrew Hanen accept Grupo México's $ 2.5 billion bid for ASARCO as it prepares to come out of bankruptcy. Mining
600-611: The company openly refer to the incident as a "homicide." After the successful rescue of 33 trapped miners in October 2010 in Copiapó , Chile , the case gained popularity again, and many people including bishop Raúl Vera demanded that the case be reopened. Grupo México has not responded. According to the IndustriALL Global Union , as of August 2016, "Ten years after the mining homicide at Pasta de Conchos, Mexico,
630-467: The energy production and transportation sectors. The division operates as México Proyectos y Desarrollos, S. A. de C.V. (MPD). As of 2023 , the group operates nine oil wells, four fuel terminals, a combined cycle power plant , two wind farms , two toll roads and is working on the construction of the Tren Maya . Asarco has been found responsible for environmental pollution at 20 Superfund sites across
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#1732780629697660-539: The following programs: water recovery systems to conserve water and minimize impact on nearby streams; vegetation programs to stabilize the surface of the tailings dumps; implementation of scrubbing technology in the mines to reduce dust emissions. For these continued efforts towards sustainable practices, the company was awarded with the Fray International Sustainability Award in 2014. CEO M. Oscar Gonzalez Rocha, appeared in Mexico for
690-595: The government has still not conducted a thorough investigation into the real causes of the disaster, brought those responsible to justice, recovered the bodies or compensated the families of the victims." On August 6, 2014, 40,000 cubic meters of copper sulphate were spilled on Sonora River and Bacanuchi River by Buenavista del Cobre mine. This has been considered the largest environmental spillage in Mexico's history, polluting 7 municipal districts from Sonora state and affecting by October more than 20,000 people. Pollution has been reported to be reaching Arizona . Though
720-478: The government of Carlos Salinas declared the state mining company bankrupt, Larrea purchased key Mexican copper mines in Cananea and Nacozari (cities in the state of Sonora ). He also purchased numerous other mining sites, including coal mines in the state of Coahuila . By 2000, Grupo México was responsible for 87.5 percent of Mexico's copper production and is the world's third-largest copper producer. Grupo México has been in continual conflict with Local 65,
750-581: The largest mine, Cuajone, was suspended pending mediation between the two parties. Tia Maria is a copper project mine which has been granted the environmental approval by the Peruvian Ministry of Energy and Mining (MINEM) to move forward with the project development. Geoservice Ingeniería was the engineering and consulting firm in charge of executing satisfactory the Environmental Impact Assessment (EIA) studies,
780-519: The line in 2001 from the Texas Department of Transportation . Intermodal México (IMEX) operates 40 intermodal freight facilities across 20 cites in Mexico, as of 2023 . The company supports the operation of Ferromex and Ferrosur. The company was founded in July 2001. Infrastructure is Grupo México's smallest division, involved in engineering, construction, and operation of large projects for
810-523: The mine safe. Although the mining operations of a coal deposit is always a risky business, due to the possibility of huge gas concentrations, there are certain theories that indicate the mine has an important lack of safety rules, very similar to the problem presented in the Sago Mine disaster in West Virginia with the accident that caused death of 12 miners on January 2, 2006. Union critics of
840-436: The privatization of railroads in Mexico. Groupo México purchased Ferrosur in 2005, and can be considered a subsidiary of Ferromex. Florida East Coast Railway is a Class II railroad operating in the U.S. state of Florida , operating 565 kilometres (351 mi) of track connecting Jacksonville and Miami . The railroad was spun off from Florida East Coast Industries in 2017 and purchased by Grupo México. Texas Pacífico
870-405: The third largest in the United States. The company primarily focused on the extraction of copper. It is the fourth largest copper producer worldwide and controls the largest copper reserves in the world. The company also mines molybdenum, silver, zinc and gold. Transportation is Grupo México's second largest division, operating 11,136 kilometres (6,920 mi) of track in 24 states of Mexico and in
900-544: The world's largest producers of molybdenum , silver , and zinc . The company is a major producer and refiner of copper, molybdenum, zinc, silver, lead, and gold, and operates mines and smelters in Mexico and in Peru, in the Andes mountains southeast of Lima . Since 2012, the company has made major strides in improving their production methods. During 2013, 60.7 million dollars in environmental capital expenditures were spent on
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