Southern Copper Corp (SCCO.N)
25 May 2017
Latest Key Developments (Source: Significant Developments)
Southern Copper Corporation:A Peruvian prosecutor said she suspects that U.S.-listed mining company Southern Copper Corp paid opponents to call off protests against its $1.4 billion Tia Maria project while it was waiting for an environmental permit - RTRS.Prosecutor Alejandra Cardenas told Reuters on Thursday that bank records show Southern gave a Peruvian lawyer, Jesus Gomez, 1.3 million soles ($387,000) between October 2013 and September 2014. The company has denied any wrongdoing - RTRS.In that period, when the government was evaluating Southern's second environmental plan for Tia Maria, Gomez paid a protest leader, Pepe Julio Gutierrez, 170,000 soles in a lump sum, Cardenas said - RTRS.Three deposits of 250,000 soles were made before community meetings the company hosted to promote Tia Maria, Cardenas said - RTRS.She said both Gomez and Gutierrez told her the money was to buy an onion field, but neither could produce documentation of a land deal - RTRS.Neither Gomez nor Gutierrez has been charged with any crime and both men deny wrongdoing. Gomez said he never bribed Tia Maria opponents and declined further comment - RTRS.Southern Copper, which is controlled by Grupo Mexico, on Friday declined comment because the inquiry had not been completed - RTRS. Full Article
LIMA Southern Copper Corp on Wednesday reported net income of $314.4 million for the first quarter, up 70 percent from $185.1 million a year earlier and 82 percent above the $172 million posted in the fourth quarter of 2016.