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Southern Copper Corp (SCCO.N)

SCCO.N on New York Stock Exchange

34.90USD
25 May 2017
Change (% chg)

$0.09 (+0.26%)
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$34.81
Open
$34.87
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$35.22
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$34.62
Volume
125,850
Avg. Vol
309,020
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$39.50
52-wk Low
$24.91

Latest Key Developments (Source: Significant Developments)

Southern Copper Corporation may have paid bribes to halt Peru protests -prosecutor - Reuters
Friday, 20 Nov 2015 04:04pm EST 

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

More From Around the Web

Southern Copper profit rises 70 percent on higher metals prices

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.