Southern Copper (SCCO) 10-Q 30 Apr 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 24, 2015
Document and Entity Information
Entity Registrant Name	SOUTHERN COPPER CORP/
Entity Central Index Key	1001838
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		798,026,043
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF EARNINGS
Net sales (including sales to related parties, see Note 7)	$1,274,807	$1,354,383
Operating costs and expenses:
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	679,822	641,894
Selling, general and administrative	24,869	24,498
Depreciation, amortization and depletion	116,963	110,453
Exploration	10,288	14,611
Environmental remediation	5,928
Total operating costs and expenses	837,870	791,456
Operating income	436,937	562,927
Interest expense	-64,750	-65,140
Capitalized interest	38,850	24,603
Other income (expense)	-3,764	-4,206
Interest income	2,847	4,537
Income before income taxes	410,120	522,721
Income taxes (including royalty taxes, see Note 4)	129,193	204,162
Net income before equity earnings of affiliate	280,927	318,559
Equity earnings of affiliate, net of income tax	2,760	6,038
Net income	283,687	324,597
Less: Net income attributable to the non-controlling interest	1,257	1,208
Net income attributable to SCC	$282,430	$323,389
Per common share amounts attributable to SCC:
Net earnings - basic and diluted	$0.35	$0.39
Dividends paid	$0.10	$0.12
Weighted average shares outstanding - basic and diluted	805,418	833,792

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$283,687	$324,597
Other comprehensive income (loss) net of tax:
Amortization of actuarial gain net of income tax (2015: $00 and 2014: $65)		-152
Total comprehensive income	283,687	324,445
Comprehensive income attributable to the non-controlling interest	1,257	1,208
Comprehensive income attributable to SCC	$282,430	$323,237

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Amortization of actuarial gain income tax portion	$0	$65

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$192,138	$363,970
Restricted cash	9,112	19,456
Short-term investments	83,820	338,589
Accounts receivable trade	501,195	540,245
Accounts receivable other (including related parties 2015 - $26,239 and 2014 - $32,835)	90,274	81,635
Inventories	842,925	836,464
Deferred income tax	106,276	119,510
Other current assets	176,298	189,920
Total current assets	2,002,038	2,489,789
Property, net	7,545,631	7,436,430
Leachable material	560,956	512,718
Intangible assets, net	109,778	109,872
Related parties receivable	161,244	161,244
Deferred income tax	566,396	553,948
Equity method investment	67,213	66,723
Other assets	234,646	221,186
Total assets	11,247,902	11,551,910
Current liabilities:
Current portion of long-term debt	200,000	200,000
Short-term Debt	50,000
Accounts payable (including related parties 2015 -$14,944 and 2014 - $69,083)	470,855	549,667
Accrued income taxes	29,691	80,101
Deferred income taxes	13,360	13,360
Accrued workers' participation	162,050	198,009
Accrued interest	85,606	70,824
Other accrued liabilities	36,219	38,944
Total current liabilities	1,047,781	1,150,905
Long-term debt	4,006,345	4,006,031
Deferred income taxes	370,947	385,545
Other liabilities and reserves	38,363	56,697
Asset retirement obligation	114,833	116,133
Total non-current liabilities	4,530,488	4,564,406
Commitments and contingencies (Note 9)
STOCKHOLDERS' EQUITY
Common stock	8,846	8,846
Additional paid-in capital	3,341,956	3,344,669
Retained earnings	4,548,761	4,346,818
Accumulated other comprehensive income	4,813	4,813
Treasury stock, at cost, common shares	-2,267,944	-1,900,686
Total Southern Copper Corporation stockholders' equity	5,636,432	5,804,460
Non-controlling interest	33,201	32,139
Total equity	5,669,633	5,836,599
Total liabilities and equity	$11,247,902	$11,551,910

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
CONSOLIDATED BALANCE SHEETS
Accounts receivable other, related parties	$26,239	$32,835
Accounts payable, related parties	$14,944	$69,083

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
OPERATING ACTIVITIES
Net income	$283,687	$324,597
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation, amortization and depletion	116,963	110,453
Equity earnings of affiliate, net of dividends received	-490	-3,414
(Gain) loss on currency translation effect	-10,953	-5,688
(Benefit) provision for deferred income taxes	-24,698	-84,320
Other, net	229
Change in operating assets and liabilities:
Decrease (increase) in accounts receivable	39,050	-10,074
(Increase) decrease in inventories	-54,699	-102,061
Increase (decrease) in accounts payable and accrued liabilities	-180,571	69,313
Increase (decrease) in other operating assets and liabilities	52,949	49,429
Net cash provided from operating activities	221,467	348,235
INVESTING ACTIVITIES
Capital investments	-245,832	-336,928
Proceeds from (purchase of) short-term investments, net	254,769	-64,742
Sale of property		294
Net cash provided by (used in) investing activities	8,937	-401,376
FINANCING ACTIVITIES
Debt incurred	50,000
Cash dividends paid to common stockholders	-80,486	-100,026
Repurchase of common shares	-370,103	-52,479
Distributions to non-controlling interest	-195	-302
Net cash used in financing activities	-400,784	-152,807
Effect of exchange rate changes on cash and cash equivalents	-1,452	6,354
Net (decrease) in cash and cash equivalents	-171,832	-199,594
Cash and cash equivalents at beginning of year	363,970	1,672,695
Cash and cash equivalents at end of year	$192,138	$1,473,101

DESCRIPTION_OF_THE_BUSINESS

DESCRIPTION OF THE BUSINESS:	3 Months Ended
	Mar. 31, 2015
DESCRIPTION OF THE BUSINESS:
DESCRIPTION OF THE BUSINESS:
	NOTE 1 — DESCRIPTION OF THE BUSINESS:
	The Company is a majority-owned, indirect subsidiary of Grupo Mexico S.A.B. de C.V. (“Grupo Mexico”). At March 31, 2015, Grupo Mexico through its wholly-owned subsidiary Americas Mining Corporation (“AMC”) owned 86.0% of the Company’s capital stock. The condensed consolidated financial statements presented herein consist of the accounts of Southern Copper Corporation (“SCC” or the “Company”), a Delaware corporation, and its subsidiaries. The Company is an integrated producer of copper and other minerals, and operates mining, smelting and refining facilities in Peru and Mexico. The Company conducts its primary operations in Peru through a registered branch (the “Peruvian Branch” or “Branch” or “SPCC Peru Branch”). The Peruvian Branch is not a corporation separate from the Company. The Company’s Mexican operations are conducted through subsidiaries. The Company also conducts exploration activities in Argentina, Chile, Ecuador, Mexico and Peru.
	In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to state fairly the Company’s financial position as of March 31, 2015 and the results of operations, comprehensive income and cash flows for the three months ended March 31, 2015 and 2014. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results to be expected for the full year. The December 31, 2014 balance sheet data was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States of America (“GAAP”). The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements at December 31, 2014 and notes included in the Company’s 2014 annual report on Form 10-K.

SHORTTERM_INVESTMENTS

SHORT-TERM INVESTMENTS:	3 Months Ended
	Mar. 31, 2015
SHORT-TERM INVESTMENTS:
SHORT-TERM INVESTMENTS:
	NOTE 2 — SHORT-TERM INVESTMENTS:
	Short-term investments were as follows ($ in millions):
		At March 31,			At December 31,
		2015			2014
	Trading securities	$	79.1		$	333.7
	Weighted average interest rate	1.16		%	0.78		%
	Available-for-sale	$	4.7		$	4.9
	Weighted average interest rate	0.46		%	0.44		%
	Total	$	83.8		$	338.6
	Trading securities consist of bonds issued by public companies and are publicly traded. Each financial instrument is independent of the others. The Company has the intention to sell these bonds in the short-term.
	Available-for-sale investments consist of securities issued by public companies. Each security is independent of the others and at March 31, 2015 and December 31, 2014, included corporate bonds and asset and mortgage backed obligations. As of March 31, 2015 and December 31, 2014, gross unrealized gains and losses on available-for-sale securities were not material.
	Related to these investments the Company earned interest, which was recorded as interest income in the condensed consolidated statement of earnings. Also the Company redeemed some of these securities and recognized gains (losses) due to changes in fair value, which were recorded as other income (expense) in the condensed consolidated statement of earnings.
	The following table summarizes the activity of these investments by category (in millions):
		Three months ended
		March 31,
		2015			2014
	Trading:
	Interest earned	$	0.3		$	1.4
	Unrealized gain (loss) at the end of the period	$	2.8		$	2.2
	Available-for-sale:
	Interest earned	(*)			(*)
	Investment redeemed	$	0.2		$	—
	(*) Less than $0.1 million.

INVENTORIES

INVENTORIES:	3 Months Ended
	Mar. 31, 2015
INVENTORIES:
INVENTORIES:
	NOTE 3 - INVENTORIES:
	Inventories were as follows:
	(in millions)	At March 31,		At December 31,
		2015		2014
	Inventory, current:
	Metals at average cost:
	Finished goods	$	89.1	$	84.6
	Work-in-process	440.8		450.5
	Supplies at average cost:	313.0		301.4
	Total current inventory	$	842.9	$	836.5
	Inventory, long-term:
	Leach stockpiles	$	561.0	$	512.7
	In the first quarter 2015 and 2014 total leaching costs capitalized as long-term inventory of leachable material amounted to $104.6 million and $86.1 million, respectively. Leachable material inventories recognized in cost of sales amounted to $50.6 million and $39.2 million for the first quarter 2015 and 2014, respectively.

INCOME_TAXES

INCOME TAXES:	3 Months Ended
	Mar. 31, 2014
INCOME TAXES:
INCOME TAXES:
	NOTE 4 — INCOME TAXES:
	The income tax provision and the effective income tax rate for the first quarter 2015 and 2014 were as follows ($ in millions):
		2015			2014
	Income tax provision	$	129.2		$	204.2
	Effective income tax rate	31.5		%	39.1		%
	These provisions include income taxes for Peru, Mexico and the United States. The decrease in the effective tax rate for the first quarter of 2015 from the same period in the prior year is primarily due to a decrease in earnings, causing a reduction in the Peruvian special mining tax and the Mexican royalty tax, thereby reducing the first quarter effective rate by approximately 2.6%. Additionally, a reduction of forecasted dividends from Minera Mexico reduced the first quarter 2015 effective rate by 1.3%.
	Components of income tax provision for the first quarter of 2015 and 2014 include the following ($ in million):
		2015			2014
	Statutory income tax provision	$	111.2		$	166.6
	Peruvian royalty	0.5			1.6
	Mexican royalty	13.7			24.0
	Peruvian special mining tax	3.8			12.0
	Total income tax provision	$	129.2		$	204.2
	Peruvian royalty and special mining tax: In 2011, the Peruvian congress approved an amendment to the mining royalty charge. The new mining royalty charge is based on operating income margins with graduated rates ranging from 1% to 12% of operating profits, with a minimum royalty charge assessed at 1% of net sales. If the operating income margin is 10% or less, the royalty charge is 1% and for each 5% increment in the operating income margin, the royalty charge rate increases by 0.75%, up to a maximum of 12%. The minimum royalty charge assessed at 1% of net sales is recorded as cost of sales and those amounts assessed against operating income are included in the income tax provision. The Company has accrued $5.7 million and $7.7 million of royalty charge in the first quarter 2015 and 2014, respectively, of which $0.5 million and $1.6 million, respectively, were included in income taxes.
	Also in 2011, the Peruvian government enacted a special mining tax. This tax is based on operating income and its rate ranges from 2% to 8.4%. It begins at 2% for operating income margin up to 10% and increases by 0.4% of operating income for each additional 5% of operating income until 85% of operating income is reached. The Company has accrued $3.8 million and $12.0 million of special mining tax as part of the income tax provision for the first quarter 2015 and 2014, respectively.
	Mexican mining royalty: In December 2013, the Mexican government enacted a new law which, among other things, established a mining royalty charge of 7.5% on taxable EBITDA earnings before taxes as defined by Mexican tax regulations and an additional royalty charge of 0.5% on the net sales value over gross income from sales of gold, silver and platinum. The Company has accrued $13.7 and $24.0 million of royalty taxes as part of the income tax provision for the first quarter 2015 and 2014, respectively.  In the first quarter of 2015, the Company has paid $56.3 million for year 2014 mining royalty.
	Income tax rate:
	In 2014, the Peruvian government enacted tax law changes to both the income tax and dividend tax rates that became effective on January 1, 2015. The rate in effect for 2014 was 30%, with a 4.1% dividend tax rate. The new rates are as follows:
	Year	Income Tax Rate		Dividend Tax Rate
	2015- 2016	28	%	6.8	%
	2017- 2018	27	%	8.0	%
	2019 and later	26	%	9.3	%
	Accounting for uncertainty in income taxes: In the first quarter 2015, there were no changes in the Company’s uncertain tax positions.

PROVISIONALLY_PRICED_SALES

PROVISIONALLY PRICED SALES:	3 Months Ended
	Mar. 31, 2015
PROVISIONALLY PRICED SALES:
PROVISIONALLY PRICED SALES:
	NOTE 5 — PROVISIONALLY PRICED SALES:
	At March 31, 2015, the Company has recorded provisionally priced sales of copper at average forward prices per pound, and molybdenum at the March 31, 2015 market price per pound. These sales are subject to final pricing based on the average monthly London Metal Exchange (“LME”), or New York Commodities Exchange (“COMEX”), copper prices and Dealer Oxide molybdenum prices in the future month of settlement.
	Following are the provisionally priced copper and molybdenum sales outstanding at March 31, 2015:
		Sales volume	Priced at		Month of settlement
		(million lbs.)	(per pound)
	Copper	60.9	$	2.75	From April 2015 to May 2015
	Molybdenum	10.3	$	8.28	From April 2015 to July 2015
	Management believes that the final pricing of these sales will not have a material effect on the Company’s financial position or results of operations.

ASSET_RETIREMENT_OBLIGATION

ASSET RETIREMENT OBLIGATION:	3 Months Ended
	Mar. 31, 2015
ASSET RETIREMENT OBLIGATION:
ASSET RETIREMENT OBLIGATION:
	NOTE 6 - ASSET RETIREMENT OBLIGATION:
	The Company maintains an estimated asset retirement obligation for its mining properties in Peru, as required by the Peruvian Mine Closure Law. In accordance with the requirements of this law the Company’s closure plans were approved by the Peruvian Ministry of Energy and Mines (“MINEM”). As part of the closure plans, the Company is required to provide annual guarantees over the estimated life of the mines, based on a present value approach, and to furnish the funds for the asset retirement obligation. This law requires a review of closing plans every five years. Currently and for the near-term future, the Company has pledged the value of its Lima office complex as support for this obligation. The accepted value of the Lima office building, for this purpose, is $27.8 million. Through March 2015, the Company has provided guarantees of $17.9 million. The closure cost recognized for this liability includes the cost, as outlined in its closure plans, of dismantling the Toquepala and Cuajone concentrators, the smelter and refinery in Ilo, and the shops and auxiliary facilities at the three units.
	In 2010, the Company announced to the Mexican federal environmental authorities its closure plans for the copper smelter plant at San Luis Potosi. The Company initiated a program for plant demolition and soil remediation $62.4 million, of which the Company has spent $51.1 million through March 31, 2015. Plant demolition and construction of a confinement area at the south of the property were completed in 2012 and the Company expects to complete soil remediation and the construction of a second confinement area during the second quarter of 2015. The Company expects that once the site is remediated, a decision will be made on whether sell or develop the property.
	The overall cost recognized for mining closure in Mexico includes the estimated costs of dismantling concentrators, smelter and refinery plants, shops and other facilities.
	The following table summarizes the asset retirement obligation activity for the three months ended March 31, 2015 and 2014 (in millions):
		2015			2014
	Balance as of January 1	$	116.1		$	124.8
	Changes in estimates	—			26.7
	Additions	—			—
	Payments	(4.2		)	(1.5		)
	Accretion expense	2.9			2
	Balance as of March 31,	$	114.8		$	152

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS:	3 Months Ended
	Mar. 31, 2015
RELATED PARTY TRANSACTIONS:
RELATED PARTY TRANSACTIONS:
	NOTE 7 — RELATED PARTY TRANSACTIONS:
	The Company has entered into certain transactions in the ordinary course of business with parties that are controlling shareholders or their affiliates. These transactions include the lease of office space, air transportation and construction services and products and services related to mining and refining. The Company lends and borrows funds among affiliates for acquisitions and other corporate purposes. These financial transactions bear interest and are subject to review and approval by senior management, as are all related party transactions. It is the Company’s policy that the Audit Committee of the Board of Directors shall review all related party transactions. The Company is prohibited from entering or continuing a material related party transaction that has not been reviewed and approved or ratified by the Audit Committee.
	Receivable and payable balances with related parties are shown below (in millions):
		At March 31,		At December 31,
		2015		2014
	Related parties receivable current:
	Asarco LLC	$	0.8	$	—
	Compania Perforadora Mexico S.A.P.I. de C.V. and affiliates	0.4		0.2
	Grupo Mexico	0.8		0.7
	Mexico Generadora de Energia S. de R.L. (“MGE”)	24.1		31.9
	Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates	0.1		—
		$	26.2	$	32.8
	Related parties receivable non-current:
	MGE	$	161.2	$	161.2
		At March 31,		At December 31,
		2015		2014
	Related parties payable:
	Asarco LLC	$	—	$	13.8
	Breaker S.A. de C.V. and affiliates (“Breaker”)	0.2		0.7
	Eolica El Retiro, S.A.P.I. de C.V.	0.2		1.6
	Ferrocarril Mexicano S.A. de C.V.	0.5		1.8
	Grupo Mexico	5.9		2.8
	Higher Technology S.A.C.	—		0.2
	MGE	4.7		45.2
	Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates	2.0		1.7
	Mexico Transportes Aereos S.A. de C.V. (“Mextransport”)	1.4		1.3
		$	14.9	$	69.1
	Purchase and sale activity:
	Grupo Mexico and affiliates:
	The following table summarizes the purchase and sale activities with Grupo Mexico and its affiliates in the three months ended March 31, 2015 and 2014 (in millions):
		2015		2014
	Purchase activity
	Asarco LLC	$	7.7	$	15.1
	Compania Perforadora Mexico S.A.P.I. de C.V and affiliates	0.3		1.2
	Eolica El Retiro, S.A.P.I. de C.V.	3.9		—
	Ferrocarril Mexicano S.A de C.V.	3.3		5.3
	Grupo Mexico		3.4		3.5
	MGE	37.8		48.9
	Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates	10.6		47.2
	Total Purchases	$	67.0	$	121.2
	Sales activity
	Asarco LLC	$	35.9	$	—
	Compania Perforadora Mexico S.A.P.I. de C.V and affiliates	0.1		0.1
	MGE	22.2		24.3
	Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates	0.2		0.2
	Total Sales	$	58.4	$	24.6
	Grupo Mexico, the parent and the majority indirect stockholder of the Company, and its affiliates provide various services to the Company. These services are primarily related to accounting, legal, tax, financial, treasury, human resources, price risk assessment and hedging, purchasing, procurement and logistics, sales and administrative and other support services. The Company pays Grupo Mexico for these services and expects to continue requiring these in the future.
	The Company’s Mexican operations paid fees for freight services provided by Ferrocarril Mexicano S.A de C.V., for construction services provided by Mexico Proyectos y Desarrollo S.A. de C.V. and its affiliates, and for drilling services provided by Compania Perforadora Mexico S.A.P.I. de C.V. All of these companies are subsidiaries of Grupo Mexico.
	The Company’s Mexican operations purchased scrap and other residual copper mineral from Asarco, and power from MGE. Both companies are subsidiaries of Grupo Mexico.
	In 2005, the Company organized MGE, as a subsidiary of Minera Mexico, for the construction of two power plants to supply power to the Company’s Mexican operations. In May 2010, the Company’s Mexican operations granted a $350 million line of credit to MGE for the construction of the power plants. That line of credit was due on December 31, 2012 and carried an interest rate of 4.4%. In the first quarter of 2012, Controladora de Infraestructura Energetica Mexico, S. A. de C. V., an indirect subsidiary of Grupo Mexico, acquired 99.999% of MGE through a capital subscription of 1,928.6 million of Mexican pesos (approximately $150 million), reducing Minera Mexico’s participation to less than 0.001%. As consequence of this change in control, MGE became an indirect subsidiary of Grupo Mexico. Additionally, at the same time, MGE paid $150 million to the Company’s Mexican operations partially reducing the total debt. At December 31, 2012, the outstanding balance of $184.0 million was restructured as subordinated debt of MGE with an interest rate of 5.75%. MGE will repay its debt to the Company using a percentage of its profits until such time as the debt is satisfied. At March 31, 2015 the remaining balance of the debt was $161.2 million and was recorded as non-current related party receivable on the condensed consolidated balance sheet. Related to this loan the Company recorded interest income of $2.3 million in the first quarter of 2015 and 2014, respectively.
	In 2012, the Company signed a power purchase agreement with MGE, whereby MGE will supply some of the Company’s Mexican operations with power through 2032. MGE completed construction of its first power plant in June 2013 and the second plant, in the second quarter of 2014. MGE has the authorization for interconnection with the Mexican electrical system to start operations in the second plant. MGE began supplying power to the Company in December 2013. It is expected that MGE will supply a portion of its power output to third-party energy users. See also Note 9 “Commitments and Contingencies — Other commitments”.
	On August 4, 2014, Mexico Generadora de Energia Eolica S. de R.L. de C.V, an indirect subsidiary of Grupo Mexico, located in Oaxaca, Mexico; acquired Eolica el Retiro. Eolica el Retiro is a windfarm that has 37 wind turbines. This company started operations in January 2014 and started to sell power to IMMSA and other subsidiaries of Grupo Mexico in the third quarter of 2014.
	The Company sold copper cathodes, rod and anodes, as well as sulfuric acid, silver, gold and lime to Asarco. In addition, the Company received fees for building rental and maintenance services provided to Mexico Proyectos y Desarrollos, S.A. de C.V. and its affiliates and to Perforadora Mexico S.A.P.I de C.V., and for natural gas and services provided to MGE, all subsidiaries of Grupo Mexico.
	Companies with relationships to the controlling group:
	The following table summarizes the purchase and sales activities with other Larrea family companies in the three months ended March 31, 2015 and 2014 (in millions):
	Mextransport:	2015		2014
	Purchase activity	$	0.1	$	0.6
	Sales activity	$	0.1	$	0.1
	The Larrea family controls a majority of the capital stock of Grupo Mexico, and has extensive interests in other businesses, including aviation 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 and air transportation.
	Companies with relationships to SCC executive officers:
	The following table summarizes the purchase activities with companies with relationships to SCC executive officers in the three months ended March 31, 2015 and 2014 (in millions):
		2015		2014
	Breaker	$	0.3	$	0.9
Higher Technology S.A.C.	0.3		0.3
Sempertrans and affiliates	0.2		0.3
Servicios y Fabricaciones Mecanicas S.A.C.	0.2		0.3
Total purchases	$	1.0	$	1.8
The Company purchased industrial materials from Higher Technology S.A.C and paid fees for maintenance services provided by Servicios y Fabricaciones Mecanicas S.A.C. Mr. Carlos Gonzalez, the son of SCC’s Chief Executive Officer, has a proprietary interest in these companies.
The Company purchased industrial material from Sempertrans and its affiliates, which employs Mr. Alejandro Gonzalez as a sales representative. Also, the Company purchased industrial material from Pigoba, S.A. de C.V., a company in which Mr. Alejandro Gonzalez has a proprietary interest. Mr. Alejandro Gonzalez is the son of SCC’s Chief Executive Officer.
The Company purchased industrial material and services from Breaker, S.A. de C.V., a company in which Mr. Jorge Gonzalez, son-in-law of SCC’s Chief Executive Officer, has a proprietary interest; and from Breaker Peru S.A.C., a company in which Mr. Jorge Gonzalez, son-in-law and Mr. Carlos Gonzalez, son of SCC’s Chief Executive Officer have a proprietary interest.
Equity Investment in Affiliate: The Company has a 44.2% participation in Compania Minera Coimolache S.A. (“Coimolache”), which it accounts for on the equity method. Coimolache owns Tantahuatay, a gold mine located in the northern part of Peru. To support the cost of the development of Tantahuatay, the Company loaned $56.6 million to Coimolache. The repayment of this loan was completed in August 2014.
It is anticipated that in the future the Company will enter into similar transactions with these same parties.

BENEFIT_PLANS

BENEFIT PLANS:	3 Months Ended
	Mar. 31, 2015
BENEFIT PLANS:
BENEFIT PLANS:
	NOTE 8 — BENEFIT PLANS:
	Post retirement defined benefit plan:
	The Company has two noncontributory defined benefit pension plans covering former salaried employees in the United States and certain former expatriate employees in Peru. Effective October 31, 2000, the Board of Directors amended the qualified pension plan to suspend the accrual of benefits.
	In October 2014, the Society of Actuaries (SOA) issued new mortality tables based on a comprehensive study of private retirement plans. Effective December 31, 2014, the Company elected to update the mortality assumption to the new SOA tables.
	In addition, the Company’s Mexican subsidiaries have a defined contribution pension plan for salaried employees and a non-contributory defined benefit pension plan for union employees.
	The components of net periodic benefit costs for the three months ended March 31, 2015 and 2014 are as follows (in millions):
		2015			2014
	Service cost	$	0.2		$	0.3
	Interest cost	0.2			0.3
	Expected return on plan assets	(0.7		)	(0.9		)
	Amortization of net actuarial loss	(*		)	(0.2		)
	Amortization of net loss/(gain)	(*		)	(*)
	Net periodic benefit costs	$	(0.3	)	$	(0.5	)
	(*) amount is lower than $0.1 million
	Post-retirement Health care plan:
	Peru: The Company adopted a post-retirement health care plan for retired salaried employees eligible for Medicare in 1996. The Company manages the plan and is currently providing health benefits to retirees. The plan is accounted for in accordance with ASC 715 “Compensation retirement benefits”.
	Mexico: Through 2007, the Buenavista unit provided health care services free of charge to employees and retired unionized employees and their families through its own hospital at the Buenavista unit. In 2011, the Company signed an agreement with the Secretary of Health of the State of Sonora to provide these services to its retired workers and their families. The new workers of Buenavista del Cobre will receive health services from the Mexican Institute of Social Security as is the case for all Mexican workers.
	The components of net periodic benefit cost for the three months ended March 31, 2015 and 2014 are as follows (in millions):
		2015			2014
	Interest cost	$	0.3		$	0.3
	Amortization of net loss (gain)	(0.1		)	(*)
	Amortization of prior service cost (credit)	(*)			(*)
	Net periodic benefit cost	$	0.2		$	0.3
	(*) amount is lower than $0.1 million

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES:	3 Months Ended
	Mar. 31, 2015
COMMITMENTS AND CONTINGENCIES:
COMMITMENTS AND CONTINGENCIES:
	NOTE 9 — COMMITMENTS AND CONTINGENCIES:
	Environmental matters:
	The Company has instituted extensive environmental conservation programs at its mining facilities in Peru and Mexico. The Company’s environmental programs include, among others, water recovery systems to conserve water and minimize impact on nearby streams, reforestation programs to stabilize the surface of the tailings dams and the implementation of scrubbing technology in the mines to reduce dust emissions.
	Environmental capital investments in the three months ended March 31, 2015 and 2014 were as follows (in millions):
			2015		2014
	Peruvian operations		$	18.9	$	18.3
	Mexican operations		3.2		6.4
			$	22.1	$	24.7
	Peruvian operations: The Company’s operations are subject to applicable Peruvian environmental laws and regulations. The Peruvian government, through the Ministry of Environment (“MINAM”) conducts annual audits of the Company’s Peruvian mining and metallurgical operations. Through these environmental audits, matters related to environmental obligation, compliance with legal requirements, atmospheric emissions, effluent monitoring and waste management are reviewed. The Company believes that it is in material compliance with applicable Peruvian environmental laws and regulations.
	Peruvian law requires that companies in the mining industry provide assurances for future closure and reclamation. In accordance with the requirements of this law, the Company’s closure plans were approved by MINEM. As part of the closure plans, the Company is providing guarantees to ensure that sufficient funds will be available for the asset retirement obligation. See Note 6 “Asset retirement obligation,” for further discussion of this matter.
	In 2008, the Peruvian government enacted environmental regulations establishing more stringent air quality standards (“AQS”) for daily sulfur dioxide (“SO2”) emissions for the Peruvian territory. These regulations, as amended in 2013, recognize distinct zones/areas, as atmospheric basins. Those areas with a mean 24-hour SO2 concentration equal or less than 20 micrograms per cubic meter (“ug/m3”) are required to develop programs to maintain this level of compliance. Those areas or cities exceeding the mean 24-hour SO2 concentration of 20 ug/m3 will be required to establish an action plan to address this problem and are required to achieve the 20 ug/m3 AQS in the future. Meanwhile they are required to achieve mean 24-hour AQS equal to 80 ug/m3 of SO2. MINAM has established three atmospheric basins that require further attention to comply with 80ug/m3 of SO2. The Ilo basin is one of these three areas and the Company’s smelter and refinery are part of the area. A supreme decree issued on April 8, 2014, indicates that the Company should review its compliance with these regulations and develop a modification plan to reach compliance. The Company continues working with an environmental technical study group, established by a MINAM resolution to identify air quality issues and develop plans to comply with the pertinent regulations.
	In 2013, the Peruvian government enacted new soil environmental quality standards (“SQS”) applicable to any existing facility or project that generates or could generate risk of soil contamination in its area of operation or influence. In March 2014, MINAM issued a supreme decree which establishes additional provisions for the gradual implementation of SQS. Under this rule the Company has twelve months to identify contaminated sites in and around its facilities and present a report of identified contaminated sites. If such sites exist, the Company must submit a decontamination plan for approval within 24 months from the date it is notified by the authority. This decontamination plan shall include remediation actions, a schedule and compliance deadlines. Also, under this rule, if deemed necessary, the Company may request a one year extension, given sound justification. Soil confirmation tests must be carried out after completion of decontamination actions (within the approved schedule) and results must be presented to the authorities within 30 days after receiving such results. Non-compliance with this obligation or with decontamination goals will carry penalties, although no specific sanctions have yet been established. During compliance schedule, companies cannot be penalized for non-compliance with the SQS. In the fourth quarter of 2014, the Company selected the consultant to carry out soil samplings, studies and other requirements of the rules. These studies were completed in the first quarter of 2015 and submitted to MINEM. The Company is awaiting response from MINEM.
	Mexican operations: The Company’s operations are subject to applicable Mexican federal, state and municipal environmental laws, to Mexican official standards, and to regulations for the protection of the environment, including regulations relating to water supply, water quality, air quality, noise levels and hazardous and solid waste.
	The principal legislation applicable to the Company’s Mexican operations is the Federal General Law of Ecological Balance and Environmental Protection (the “General Law”), which is enforced by the Federal Bureau of Environmental Protection (“PROFEPA”). PROFEPA monitors compliance with environmental legislation and enforces Mexican environmental laws, regulations and official standards. PROFEPA may initiate administrative proceedings against companies that violate environmental laws, which in the most extreme cases may result in the temporary or permanent closing of non-complying facilities, the revocation of operating licenses and/or other sanctions or fines. Also, according to the federal criminal code, PROFEPA must inform corresponding authorities regarding environmental non-compliance.
	In 2011, the General Law was amended, giving an individual or entity the ability to contest administrative acts, including environmental authorizations, permits or concessions granted, without the need to demonstrate the actual existence of harm to the environment, natural resources, flora, fauna or human health, because it will be sufficient to argue that the harm may be caused. In addition, in 2011, amendments to the Civil Federal Procedures Code (“CFPC”) were enacted. These amendments establish three categories of collective actions by means of which 30 or more people claiming injury derived from environmental, consumer protection, financial services and economic competition issues will be considered to be sufficient in order to have a legitimate interest to seek through a civil procedure restitution or economic compensation or suspension of the activities from which the alleged injury derived. The amendments to the CFPC may result in more litigation, with plaintiffs seeking remedies, including suspension of the activities alleged to cause harm.
	In 2013, the Environmental Liability Federal Law was enacted. The law establishes general guidelines in order to determine which environmental actions will be considered to cause environmental harm that will give rise to administrative responsibilities (remediation or compensations), criminal responsibilities as well as monetary fines.
	On August 6, 2014, an accidental spill of approximately 40,000 cubic meters of copper sulfate solution occurred at a leaching pond that was under construction ten kilometers away from the mine of Buenavista del Cobre, S.A. de C.V. (“BVC”) a subsidiary of the Company. The accident was caused by a rock collapse that affected the system’s pumping station and by a construction defect in the seal of a pipe in the leaching system containment dam, a part of the new SX-EW III plant. This solution reached the Bacanuchi river, a tributary of the Sonora River. All the necessary immediate actions were taken in order to contain the spill, and to comply with all the legal requirements.
	The National Water Commission (Comision Nacional del Agua “CONAGUA”), the Federal Commission for the Protection against Sanitary Risks (Comisión Federal para la Protección de Riesgos Sanitarios “COFEPRIS”) and PROFEPA initiated administrative proceedings regarding the spill to determine possible environmental and health damages.
	On August 19, 2014, PROFEPA, as part of the administrative proceeding initiated after the spill, announced the filing of a criminal complaint against BVC in order to determine, in such a case, the responsibility for the environmental damages. The criminal complaint filed by PROFEPA against BVC is in the procedural stages. The Company is vigorously defending against it.
	On September 15, 2014, BVC executed an administrative agreement with PROFEPA, providing for the presentation to the Mexican Ministry of Environment and Natural Resources (Secretaria de Medio Ambiente y Recursos Naturales “SEMARNAT”) of a remedial action plan, the remediation program was submitted to SEMARNAT on November 27, 2014 and approved on January 6, 2015. This program will be developed in five zones along the rivers. As of March 31, 2015, work on zone one of the remediation program was completed; studies of the zones two through four have been completed and a program for each particular zone will be submitted to SEMARNAT for approval.
	The Company also created a trust with Nacional Financiera S.N.C., a Mexican development bank, acting as a Trustee to serve as a vehicle to support environmental remedial actions in connection with the spill, to comply with the remedial action plan and to compensate for damages caused to persons adversely affected by the spill.  The Company committed up to two billion Mexican pesos (approximately $150 million) of which approximately one billion Mexican pesos have already been contributed. A technical committee of the trust was created with representatives from the federal government, the Company and specialists assisted by a team of environmental experts to ensure the proper use of the funds. Along with the administrative agreement executed with PROFEPA, the trust serves as an alternative mechanism for dispute resolution to mitigate public and private litigation risks.
	Independently of the execution of the administrative agreement with PROFEPA and the creation of the above mentioned trust, since the first day of the copper solution spill, the Company has taken actions to remediate the sites. On August 29, 2014, the Company hired more than 1,200 workers and environmental specialists to clean the river.
	In addition, the Company developed a service program for the residents of the Sonora River Region, considering (i) water distribution provision, and infrastructure development within the affected region, (ii) the expansion of the current Community Development program to communities further downstream that were affected and previously not within the scope of the Company´s program, (iii) attention to local farmers and producers in coordination with the Federal Agriculture, Livestock, Rural Development, Fisheries, and Alimentations Ministry in order to revamp and promote the activities of local farmers and producers, (iv) the implementation of sustainable productive projects at each affected site, as well as (v) the establishment of service desks to attend specific cases.
	On March 2, 2015 as a result of four administrative proceedings, PROFEPA imposed administrative fines to BVC for an aggregate amount of 23.5 million Mexican pesos (approximately $1.7 million). Other authorities may impose additional sanctions or fines, including the cost of clean-up and remediation of the sites, as well as economic compensation to people who provide evidence that they suffered direct damages from the spill.
	The Company has also been served with three collective action lawsuits seeking damages for injuries related to the spill. The Company considers that those lawsuits are without merit and is vigorously defending against them.
	As of March 31, 2015, BVC estimated the contingent liability at $97.3 million, of which $16.4 million was paid prior to the establishment of the trust, and approximately one billion Mexican pesos (approximately $74.9 million) was deposited in the trust. These funds have been available and have been used to compensate claims as they have arisen. This deposit was classified as restricted cash and was recorded as an operating expense in the Company’s results.
	The Company does not expect that legal proceedings resulting from the spill, individually or in the aggregate, would have a material effect on its financial position or results of operations.
	The Company believes that all of its facilities in Peru and Mexico are in material compliance with applicable environmental, mining and other laws and regulations.
	The Company also believes that continued compliance with environmental laws of Mexico and Peru will not have a material adverse effect on the Company’s business, properties, result of operations, financial condition or prospects and will not result in material capital investments.
	Litigation matters:
	Garcia Ataucuri and Others against SCC’s Peruvian Branch:
	In April 1996, the Branch was served with a complaint filed in Peru by Mr. Garcia Ataucuri and approximately 900 former employees seeking the delivery of a substantial number of “labor shares” (acciones laborales) plus dividends on such shares, to be issued to each former employee in proportion to their time of employment with SCC’s Peruvian Branch, pursuant to a former Peruvian mandated profit sharing law.
	The labor share litigation is based on claims of former employees for ownership of labor shares that the plaintiffs state that the Branch did not issue during the 1970s until 1979 under such former Peruvian mandated profit sharing law. In 1971, the Peruvian government enacted legislation providing that mining workers would have a 10% participation in the pre-tax profits of their employing enterprises. This participation was distributed 40% in cash and 60% in an equity interest of the enterprise. In 1978, the equity portion, which was originally delivered to a mining industry workers’ organization, was set at 5.5% of pre-tax profits and was delivered, mainly in the form of “labor shares” to individual workers. The cash portion was set at 4.0% of pre-tax earnings and was delivered to individual employees also in proportion to their time of employment with the Branch. In 1992, the workers’ participation was set at 8%, with 100% payable in cash and the equity participation was eliminated from the law.
	In relation to the issuance of “labor shares” by the Branch in Peru, the Branch is a defendant in the following lawsuits:
		1)		Mr. Garcia Ataucuri seeks delivery, to himself and each of the approximately 900 former employees of the Peruvian Branch, of the 3,876,380,679.65 old soles or 38,763,806.80 “labor shares” (acciones laborales), as required by Decree Law 22333 (a former profit sharing law), to be issued proportionally to each former employee in accordance with the time of employment of such employee with SCC’s Branch in Peru, plus dividends on such shares. The 38,763,806.80 labor shares sought in the complaint, with a face value of 100.00 old soles each, represent 100% of the labor shares issued by the Branch during the 1970s until 1979 for all of its employees during that period. The plaintiffs do not represent 100% of the Branch’s eligible employees during that period.
	It should be noted that the lawsuit refers to a prior Peruvian currency called “sol de oro” or old soles, which was later changed to the “inti”, and then into today’s “nuevo sol”. Due to a past period of high inflation between 1985 and 1990, one billion of old soles is equivalent to today’s one nuevo sol.
	After lengthy proceedings before the civil courts in Peru on September 19, 2001, on appeal by the Branch, the Peruvian Supreme Court annulled the proceedings noting that the civil courts lacked jurisdiction and that the matter had to be decided by a labor court (the “2000 appeal”).
	In October 2007, in a separate proceeding initiated by the plaintiffs, the Peruvian Constitutional Court nullified the September 19, 2001 Peruvian Supreme Court decision and ordered the Supreme Court to decide again on the merits of the case accepting or denying the 2000 appeal.
	In May 2009, the Supreme Court rejected the 2000 appeal of the Branch affirming the adverse decision of the appellate civil court and lower civil court. While the Supreme Court has ordered SCC’s Peruvian Branch to deliver the labor shares and dividends, it has clearly stated that SCC’s Peruvian Branch may prove, by all legal means, its assertion that the labor shares and dividends were distributed to the former employees in accordance with the profit sharing law then in effect, an assertion which SCC’s Peruvian Branch continues to make. None of the court decisions state the manner by which the Branch must comply with the delivery of such labor shares or make a liquidation of the amount to be paid for past dividends and interest, if any.
	On June 9, 2009, SCC’s Peruvian Branch filed a proceeding of relief before a civil court in Peru seeking the nullity of the 2009 Supreme Court decision and, in a separate proceeding, a request for a precautionary measure. The civil court rendered a favorable decision on the nullity and the precautionary measure, suspending the enforcement of the Supreme Court decision, for the reasons indicated above and other reasons. In February 2012, the Branch was notified that the civil court had reversed its prior decisions. On appeal by the Peruvian Branch the Superior Court affirmed the lower court’s decisions regarding the nullity of the 2009 Supreme Court decision and the precautionary measure. As a result, the nullity of the precautionary measure became final and is not appealable. However, the nullity of the 2009 Supreme Court decision was appealed by the Branch before the Constitutional Court. On April 10, 2014, the Constitutional Court denied the Company’s appeal and affirmed the lower court’s decision. In view of this, SCC’s Peruvian Branch continues to analyze the manner in which the competent lower court will enforce the Supreme Court’s decision and its financial impact.
		2)		In addition, there are filed against SCC’s Branch the following lawsuits, involving approximately 800 plaintiffs, which seek the same number of labor shares as in the Garcia Ataucuri case, plus interest, labor shares resulting from capital increases and dividends: (1) Armando Cornejo Flores and others v. SCC’s Peruvian Branch (filed May 10, 2006); (2) Alejandro Zapata Mamani and others v. SCC’s Peruvian Branch (filed June 27, 2008); (3) Edgardo Garcia Ataucuri, in representation of 216 of SCC’s Peruvian Branch former workers, v. SCC’s Peruvian Branch (filed May 2011); (4) Juan Guillermo Oporto Carpio v. SCC’s Peruvian Branch (filed August 2011); (5) Rene Mercado Caballero v. SCC’s Peruvian Branch (filed November 2011); (6) Enrique Salazar Alvarez and others v. SCC’s Peruvian Branch (filed December 2011); (7) Jesus Mamani Chura and others v. SCC’s Peruvian Branch (filed March 2012); (8) Armando Cornejo Flores, in representation of 37 of SCC’s Peruvian Branch former workers v. SCC’s Peruvian Branch (filed March 2012), (9) Porfirio Ochochoque Mamani and others v. SCC’s Peruvian Branch (filed July 2012); (10) Alfonso Claudio Flores Jimenez and others v. SCC’s Peruvian Branch (filed July 2013); (11) Micaela Laura Alvarez de Vargas and others v. SCC’s Peruvian Branch (filed August 2013) and (12) Edgardo García Ataucuri in representation of 104 of SCC´s Peruvian Branch former workers (filed March 2015). SCC’s Peruvian Branch has answered the complaints and denied the validity of the claims.
	SCC’s Peruvian Branch asserts that the labor shares were distributed to the former employees in accordance with the profit sharing law then in effect. The Peruvian Branch has not made a provision for these lawsuits because it believes that it has meritorious defenses to the claims asserted in the complaints. Additionally, the amount of this contingency cannot be reasonably estimated by management at this time.
	The “Virgen Maria” Mining Concessions of the Tia Maria Mining Project
	The Tia Maria project includes various mining concessions, totaling 32,989.64 hectares. One of the concessions is the “Virgen Maria” mining concession totaling 943.72 hectares or 2.9% of the total mining concessions.
	Related to the “Virgen Maria” mining concessions, the Company is party to the following lawsuits:
		a)		Exploraciones de Concesiones Metalicas S.A.C. (“Excomet”): In August 2009, a lawsuit was filed against SCC’s Branch by the former stockholders of Excomet. The plaintiffs allege that the acquisition of Excomet’s shares by the Branch is null and void because the $2 million purchase price paid by the Branch for the shares of Excomet was not fairly negotiated by the plaintiffs and the Branch. In 2005, the Branch acquired the shares of Excomet after lengthy negotiations with the plaintiffs, and after the plaintiffs, which were all the stockholders of Excomet, approved the transaction in a general stockholders’ meeting. Excomet was at the time owner of the “Virgen Maria” mining concession. In October 2011, the civil court dismissed the case on the grounds that the claim had been barred by the statute of limitations. On appeal by the plaintiffs, the superior court reversed the lower court’s decision and remanded it to the lower court for further proceedings. As of March 31, 2015, the case remains pending resolution without further developments.
		b)		Sociedad Minera de Responsabilidad Limitada Virgen Maria de Arequipa (“SMRL Virgen Maria”): In August 2010, a lawsuit was filed against SCC’s Branch and others by SMRL Virgen Maria, a company which until July 2003 owned the mining concession Virgen Maria. SMRL Virgen Maria sold this mining concession in July 2003 to Excomet (see a) above). The plaintiff alleges that the sale of the mining concession Virgen Maria to Excomet is null and void because the persons who attended the shareholders’ meeting of SMRL Virgen Maria, at which the purchase was agreed upon, were not the real owners of the shares. The plaintiff is also pursuing the nullity of all the subsequent acts regarding the mining property (acquisition of the shares of Excomet by SCC’s Branch, noted above, and the sale of this concession to SCC’s Branch by Excomet). In October 2011, the civil court dismissed the case on the grounds that the claim had been barred by the statute of limitations. Upon appeal by the plaintiffs, the superior court remanded the proceedings to the lower court, ordering the issuance of a new decision. On June 25, 2013, the lower court dismissed the case due to procedural defects. Upon appeal by the plaintiff, on December 2, 2013 the Superior Court reversed the lower court’s decision due to procedural defects and ordered the issuance of a new resolution. In July 2014, once again the lower court dismissed the case on the grounds that the claim had barred by the statute of limitations. The plaintiff appealed this resolution before the Superior Court. On December 30, 2014, the Superior Court affirmed the lower court’s decision.  The plaintiff filed an extraordinary appeal before the Supreme Court. As of March 31, 2015, the case remains pending resolution without further developments.
		c)		Omar Nunez Melgar: In May 2011, Mr. Omar Nunez Melgar commenced a lawsuit against the Peruvian Mining and Metallurgical Institute and MINEM challenging the denial of his request of a new mining concession that conflicted with SCC’s Branch’s Virgen Maria mining concession. SCC’s Branch has been made a party to the proceedings as the owner of the Virgen Maria concession. SCC’s Branch has answered the complaint and denied the validity of the claim. In March 2015, the Civil Court dismissed the case. The plaintiff may appeal before the Supreme Court.
	The Company asserts that the lawsuits are without merit and is vigorously defending against these lawsuits.
	Special Regional Pasto Grande Project (“Pasto Grande Project”)
	In the last quarter of 2012, the Pasto Grande Project, an entity of the Regional Government of Moquegua, filed a lawsuit against SCC’s Peruvian Branch alleging property rights over a certain area used by the Peruvian Branch and seeking the demolition of the tailings dam where SCC’s Peruvian Branch has deposited its tailings from the Toquepala and Cuajone operations since 1995. The Peruvian Branch has had title to use the area in question since 1960 and has constructed and operated the tailing dams also with proper governmental authorization, since 1995. SCC’s Peruvian Branch asserts that the lawsuit is without merit and is vigorously defending against the lawsuit. Upon a motion filed by the Peruvian Branch, the lower court has included the MINEM as a defendant in this lawsuit. MINEM has answered the complaint and denied the validity of the claim. As of March 31, 2015, the case remains pending resolution without further developments.
	Labor matters:
	Peruvian operations: Approximately 70% of the Company’s 4,546 Peruvian employees were unionized at March 31, 2015. There are seven separate unions, three of them at each major production area that represent the majority of our workers; and four smaller unions that represent the balance of workers. Our collective bargaining agreements with all of these unions will expire in the second half of 2015. We expect to begin negotiations for new agreements in the second quarter of 2015.
	Mexican operations: In recent years, the Mexican operations have experienced a positive improvement of their labor environment, as its workers, opted to change their affiliation from the Sindicato Nacional de Trabajadores Mineros, Metalurgicos y Similares de la Republica Mexicana (the “National Mining Union”) led by Napoleon Gomez Urrutia to other less politicized unions.
	However, the workers of the San Martin and Taxco mines, who are still under the National Mining Union, have been on strike since July 2007. On December 10, 2009, a federal court confirmed the legality of the San Martin strike. In order to recover the control of the San Martin mine and resume operations, the Company filed a court petition on January 27, 2011 requesting that the court, among other things, define the termination payment for each unionized worker. The court denied the petition alleging that, according to federal labor law, the union was the only legitimate party to file such petition. On appeal by the Company, on May 13, 2011, the Mexican federal tribunal accepted the petition. In July 2011, the National Mining Union appealed the favorable court decision before the Supreme Court. On November 7, 2012, the Supreme Court affirmed the decision of the federal tribunal. The Company filed a new proceeding before the labor court on the basis of the Supreme Court decision, which recognized the right of the labor court to define responsibility for the strike and the termination payment for each unionized worker. A favorable decision of the labor court in this new proceeding would have the effect of terminating the protracted strike at San Martin. As of March 31, 2015, the case remains pending resolution without further developments.
	In the case of the Taxco mine, following the workers refusal to allow exploration of new reserves, the Company commenced litigation seeking to terminate the labor relationship with workers of the Taxco mine (including the related collective bargaining agreement). On September 1, 2010, the federal labor court issued a ruling approving the termination of the collective bargaining agreement and all the individual labor contracts of the workers affiliated with the Mexican mining union at the Taxco mine. The mining union appealed the labor court ruling before a federal court. In September 2011, the federal court accepted the union’s appeal and requested that the federal labor court review the procedure. After several legal proceedings on January 25, 2013, the Company filed a new proceeding before the labor court. On June 16, 2014, the labor court denied the petition of the Company. The resolution issued by the labor court was challenged by the Company before a federal court. Considering the above decision of the Supreme Court, there could be grounds for a favorable decision to end the protracted strike at the Taxco Unit. As of March 31, 2015, the case remains pending resolution.
	It is expected that operations at these mines will remain suspended until these labor issues are resolved.
	In view of these lengthy strikes, the Company has reviewed the carrying value of the San Martin and Taxco mines to ascertain whether impairment exists. The Company concluded that there is a non-material impairment of the assets located at these mines.
	Other legal matters:
	The Company is involved in various other legal proceedings incidental to its operations, but the Company does not believe that decisions adverse to it in any such proceedings, individually or in the aggregate, would have a material effect on its financial position or results of operations.
	Other commitments:
	Peruvian Operations
	Tia Maria:
On August 1, 2014, the Company received the final approval of Tia Maria´s EIA. The project has experienced a delay pending the resolution of certain differences with community groups. The Peruvian government has been promoting the creation of a development dialogue roundtable for the resolution of these differences, which has initiated activities on April 14, 2015. The Company believes that this mechanism will help expedite the pending construction permits for the project. The project budget is $1.4 billion, of which $354.0 million has been expended through March 31, 2015. When completed, Tia Maria is expected to produce 120,000 tons of copper cathodes per year.
In connection with the Tia Maria project, in 2014 the Company established an S/.100 million fund (approximately $33 million) for the benefit of social and infrastructure improvements in the neighboring communities to Tia Maria.
Toquepala Concentrator Expansion:
In April 2015, the construction permit for the Toquepala expansion project was approved by the MINEM. The project budget is $1.2 billion, of which $348.6 million has been expended through March 31, 2015. When completed, this expansion project is expected to increase annual production capacity by 100,000 tons of copper and 3,100 tons of molybdenum.
In connection with this project, the Company has committed to fund various social and infrastructure improvement projects in Toquepala’s neighboring communities. The total amount committed for these purposes is S/.445.0 million (approximately $143 million).
Power purchase agreements
	·		Enersur: In 1997, SCC signed a power purchase agreement with an independent power company, Enersur S.A. under which SCC agreed to purchase all of its power needs for its current Peruvian operations from Enersur for twenty years, through April 2017.
	·		Electroperu S.A.: In June 2014, the Company signed a power purchase agreement for 120 megawatt (“MW”) with the state power company Electroperu S.A., under which Electroperu S.A. will supply energy for the Peruvian operations for twenty years starting on April 17, 2017 and ending on April 30, 2037.
	·		Kallpa Generacion S.A. (“Kallpa”): In July 2014, the Company signed a power purchase agreement for 120MW with Kallpa, an independent Israeli owned power company, under which Kallpa will supply energy for the Peruvian operations for ten years starting on April 17, 2017 and ending on April 30, 2027.
Mexican operations
Power purchase agreement - MGE
MGE, a subsidiary of Grupo Mexico, has completed the construction of the two power plants in Mexico designed to supply power to some of the Company’s Mexican operations. It is expected that MGE will supply approximately 12% of its power output to third-party energy users. These plants are natural gas-fired combined cycle power generating units, with a net total capacity of 516.2 megawatts. In 2012, the Company signed a power purchase agreement with MGE through 2032. The first plant was completed in June 2013 and the second, in the second quarter of 2014. MGE has the authorization for the interconnection with the Mexican electrical system to start operations at the second plant. The first plant began to supply power to the Company in December 2013, and the second plant is ready to supply once the demand in the mine requires it.
Commitment for Capital projects
As of March 31, 2015, the Company has committed approximately $464 million for the development of its capital investment projects at its Mexican operations.
Tax contingency matters:
Tax contingencies are provided for under ASC 740-10-50-15 Uncertain tax position (see Note 4 “Income taxes”).

SEGMENT_AND_RELATED_INFORMATIO

SEGMENT AND RELATED INFORMATION:	3 Months Ended
	Mar. 31, 2015
SEGMENT AND RELATED INFORMATION:
SEGMENT AND RELATED INFORMATION:
	NOTE 10 — SEGMENT AND RELATED INFORMATION:
	Company management views Southern Copper as having three reportable segments and manages it on the basis of these segments.  The reportable segments identified by the Company are: the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
	The three reportable segments identified are groups of mines, each of which constitute an operating segment, with similar economic characteristics, type of products, processes and support facilities, similar regulatory environments, similar employee bargaining contracts and similar currency risks. In addition, each mine within the individual group earns revenues from similar type of customers for their products and services and each group incurs expenses independently, including commercial transactions between groups.
	Financial information is regularly prepared for each of the three segments and the results of the Company’s operations are regularly reported to Senior Management on the segment basis. Senior Management of the Company focus on operating income and on total assets as measures of performance to evaluate different segments and to make decisions to allocate resources to the reported segments. These are common measures in the mining industry.
	Financial information relating to Southern Copper’s segments is as follows:
	Three Months Ended March 31, 2015
	(in millions)
		Mexican		Mexican		Peruvian		Corporate, other			Consolidated
		Open-Pit		IMMSA Unit		Operations		and eliminations
	Net sales outside of segments	$	664.2	$	90.3	$	520.3	—			$	1,274.80
	Intersegment sales	—		18.9		—		$	(18.9	)	—
	Cost of sales (exclusive of depreciation, amortization and depletion)	299.2		89.9		303		(12.3		)	679.8
	Selling, general and administrative	9.4		4		10.3		1.2			24.9
	Depreciation, amortization and depletion	54.1		7.7		53		2.2			117
	Exploration	0.8		2.3		2.7		4.5			10.3
	Environmental remediation	5.9		—		—		—			5.9
	Operating income	$	294.8	$	5.3	$	151.3	$	(14.5	)	436.9
	Less:
	Interest, net										(23.1		)
	Other income (expense)										(3.7		)
	Income taxes										(129.2		)
	Equity earnings of affiliate										2.8
	Non-controlling interest										(1.3		)
	Net income attributable to SCC										$	282.4
	Capital investment	$	184.7	$	6.6	$	53.2	$	1.3		$	245.8
	Property, net	$	4,502.60	$	388.3	$	2,560.40	$	94.3		$	7,545.60
	Total assets	$	7,569.80	$	890.6	$	3,647.10	$	(859.6	)	$	11,247.90
	Three Months Ended March 31, 2014
	(in millions)
		Mexican		Mexican		Peruvian		Corporate, other			Consolidated
		Open-Pit		IMMSA Unit		Operations		and eliminations
	Net sales outside of segments	$	648.2	$	95.9	$	610.3	—			$	1,354.40
	Intersegment sales			24.4				$	(24.4	)	—
	Cost of sales (exclusive of depreciation, amortization and depletion)	229.5		84.4		323.1		4.9			641.9
	Selling, general and administrative	8.7		3.7		11.2		0.9			24.5
	Depreciation, amortization and depletion	54.7		7.8		47.2		0.8			110.5
	Exploration	0.9		5		1.9		6.8			14.6
	Operating income	$	354.4	$	19.4	$	226.9	$	(37.8	)	562.9
	Less:
	Interest, net										(36.0		)
	Other income (expense)										(4.2		)
	Income taxes										(204.1		)
	Equity earnings of affiliate										6
	Non-controlling interest										(1.2		)
	Net income attributable to SCC										$	323.4
	Capital investment	$	267.7	$	9	$	57.8	$	2.4		$	336.9
	Property, net	$	3,764.70	$	380.8	$	2,454.20	$	85.8		$	6,685.50
	Total assets	$	6,314.90	$	863	$	3,428.50	$	658.3		$	11,264.70

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY:	3 Months Ended
	Mar. 31, 2015
STOCKHOLDERS' EQUITY:
STOCKHOLDERS' EQUITY:
	NOTE 11 — STOCKHOLDERS’EQUITY:
	Treasury Stock:
	Activity in treasury stock in the three-month period ended March 31, 2015 and 2014 is as follows (in millions):
		2015			2014
	Southern Copper common shares
	Balance as of January 1,	$	1,693.50		$	1,011.00
	Purchase of shares	370.1			52.5
	Balance as of March 31,	2,063.60			1,063.50
	Parent Company (Grupo Mexico) common shares
	Balance as of January 1,	207.2			205.6
	Other activity, including dividend, interest and currency translation effect	(2.9		)	6.3
	Balance as of March 31,	204.3			211.9
	Treasury stock balance as of March 31,	$	2,267.90		$	1,275.40
	Southern Copper Common Shares:
	At March 31, 2015 and 2014, there were in treasury 85,058,843 and 51,152,615 SCC’s common shares, respectively.
	SCC share repurchase program:
	In 2008, the Company’s Board of Directors (“BOD”) authorized a $500 million share repurchase program that has since been increased by the BOD and is currently authorized to $3 billion. Pursuant to this program, the Company purchased common stock as shown in the table below. These shares are available for general corporate purposes. The Company may purchase additional shares of its common stock from time to time, based on market conditions and other factors. This repurchase program has no expiration date and may be modified or discontinued at any time.
								Total Number of	Maximum Number
						Average		Shares	of Shares that May
				Total Number		Price		Purchased as	Yet Be Purchased
	Period			of Shares		Paid per		Part of Publicly	Under the Plan	Total Cost
	From	To		Purchased		Share		Announced Plan	@ $29.18 (*)	($ in millions)
	2008	2012		46,914,486		$	18.72	46,914,486		$	878.1
	2013			10,245,000		27.47		57,159,486		281.4
	2014			22,711,428		30.06		79,870,914		682.8
	2015
	1/1/15	1/31/15		5,927,154		27.12		85,798,068		160.7
	2/1/15	2/28/15		2,590,076		29.45		88,388,144		76.3
	3/1/15	3/31/15		4,563,649		29.16		92,951,793		133.1
	Total first quarter			13,080,879		29.29				370.1
									26,992,079
	Total purchased			92,951,793		$	23.80			$	2,212.4
	(*) NYSE closing price of SCC common shares at March 31, 2015.
	As a result of the repurchase of shares of SCC’s common stock, Grupo Mexico’s direct and indirect ownership was 86.0% as of March 31, 2015.
	Parent Company common shares:
	At March 31, 2015 and 2014 there were in treasury 94,325,311 and 72,814,824 of Grupo Mexico’s common shares, respectively.
	Employee Stock Purchase Plan:
	2007 Plan: In January 2007, the Company offered to eligible employees a stock purchase plan (the “Employee Stock Purchase Plan”) through a trust that acquires shares of Grupo Mexico stock for sale to its employees, employees of subsidiaries, and certain affiliated companies. The purchase price is established at the approximate fair market value on the grant date. Every two years employees will be able to acquire title to 50% of the shares paid in the previous two years. The employees will pay for shares purchased through monthly payroll deductions over the eight year period of the plan. At the end of the eight year period, the Company will grant the participant a bonus of one share for every ten shares purchased by the employee.
	If Grupo Mexico pays dividends on shares during the eight year period, the participants will be entitled to receive the dividend in cash for all shares that have been fully purchased and paid as of the date that the dividend is paid. If the participant has only partially paid for shares, the entitled dividends will be used to reduce the remaining liability owed for purchased shares.
	In the case of voluntary or involuntary resignation/termination of the employee, the Company will pay to the employee the fair market sales price at the date of resignation/termination of the fully paid shares, net of costs and taxes. When the fair market sales value of the shares is higher than the purchase price, the Company will apply a deduction over the amount to be paid to the employee based on a decreasing schedule specified in the plan.
	In case of retirement or death of the employee, the Company will render the buyer or his legal beneficiary, the fair market sales value as of the date of retirement or death of the shares effectively paid, net of costs and taxes.
	The stock based compensation expense for the first quarter 2015 and 2014 and the unrecognized compensation expense as of March 31, 2015 and 2014 under the Employee Stock Purchase Plan were as follows (in millions):
		2015			2014
	Stock based compensation expense	$	—		$	0.5
	Unrecognized compensation expense	$	—		$	1.6
	The following table presents the stock award activity of the Employee Stock Purchase Plan for the three months ended March 31, 2015 and 2014:
		Shares		Unit Weighted Average
				Grant Date Fair Value
	Outstanding shares at January 1, 2015	4,298,612		$	1.16
	Granted	—		—
	Exercised	—		—
	Forfeited	(3,660,945	)	$	1.16
	Outstanding shares at March 31, 2015	637,667		$	1.16
	Outstanding shares at January 1, 2014	4,449,599		$	1.16
	Granted	—		—
	Exercised	(40,632	)	$	1.16
	Forfeited	—		—
	Outstanding shares at March 31, 2014	4,408,967		$	1.16
	2010 Plan: During 2010, the Company offered to eligible employees a stock purchase plan through a trust that acquires series B shares of Grupo Mexico stock for sale to its employees, employees of subsidiaries, and certain affiliated companies. The purchase price was established at 26.51 Mexican pesos (approximately $2.05) for the initial subscription. The terms of this Stock Purchase Plan are similar to the terms of the prior Employee Stock Purchase Plan.
	The stock based compensation expense for the first quarter 2015 and 2014 and the unrecognized compensation expense under this plan were as follows (in millions):
		2015			2014
	Stock based compensation expense	$	0.1		$	0.1
	Unrecognized compensation expense	$	2.0		$	2.5
The unrecognized compensation expense under this plan is expected to be recognized over the remaining three year and nine month period.
The following table presents the stock award activity of this plan for the three months ended March 31, 2015 and 2014:
	Shares		Unit Weighted Average
			Grant Date Fair Value
Outstanding shares at January 1, 2015	2,287,891		$	2.05
Granted	—		—
Exercised	—		—
Forfeited	—		—
Outstanding shares at March 31, 2015	2,287,891		$	2.05
Outstanding shares at January 1, 2014	3,012,464		$	2.05
Granted	—		—
Exercised	(249,446	)	$	2.05
Forfeited	—		—
Outstanding shares at March 31, 2014	2,763,018		$	2.05
2015 Plan: In January 2015, the Company offered to eligible employees a new stock purchase plan (the “New Employee Stock Purchase Plan”) through a trust that acquires series B of shares of Grupo Mexico stock for sale to its employees, and employees of subsidiaries, and certain affiliated companies.
The purchase price was established at 38.44 Mexican pesos (approximately $2.63) for the initial subscription, which expires on January 2023. Every two years employees will be able to acquire title to 50% of the shares paid in the previous two years. The employees will pay for shares purchased through monthly payroll deductions over the eight year period of the plan. At the end of the eight year period, the Company will grant the participant a bonus of 1 share for every 10 shares purchased by the employee. Any future subscription will be at the average market price at the date of acquisition or the grant date.
If Grupo Mexico pays dividends on shares during the eight year period, the participants will be entitled to receive the dividend in cash for all shares that have been fully purchased and paid as of the date that the dividend is paid. If the participant has only partially paid for shares, the entitled dividends will be used to reduce the remaining liability owed for purchased shares.
In the case of voluntary resignation of the employee, the Company will pay to the employee the fair market sales price at the date of resignation of the fully paid shares, net of costs and taxes. When the fair market sales value of the shares is higher than the purchase price, the Company will apply a deduction over the amount to be paid to the employee based on the following schedule.
	% Deducted
If the resignation occurs during:
1st year after the grant date	90	%
2nd year after the grant date	80	%
3rd year after the grant date	70	%
4th year after the grant date	60	%
5th year after the grant date	50	%
6th year after the grant date	40	%
7th year after the grant date	20	%
In the case of involuntary termination of the employee, the Company will pay to the employee the fair market sales price at the date of termination of employment of the fully paid shares, net of costs and taxes. When the fair market sales value of the shares is higher than the purchase price, the Company will apply a deduction over the amount to be paid to the employee based on the following schedule.
	% Deducted
If the termination occurs during:
1st year after the grant date	100	%
2nd year after the grant date	95	%
3rd year after the grant date	90	%
4th year after the grant date	80	%
5th year after the grant date	70	%
6th year after the grant date	60	%
7th year after the grant date	50	%
In case of retirement or death of the employee, the Company will render the buyer or his legal beneficiary, the fair market sales value as of the date of retirement or death of the shares effectively paid, net of costs and taxes.
For the three months ended March 31, 2015, there was no stock based compensation under this plan.

NONCONTROLLING_INTEREST

NON-CONTROLLING INTEREST	3 Months Ended
	Mar. 31, 2015
NON-CONTROLLING INTEREST
NON-CONTROLLING INTEREST
	NOTE 12 — NON-CONTROLLING INTEREST
	The following table presents the non-controlling interest activity for the three months ended March 31, 2015 and 2014:
		2015			2014
	Balance as of January 1,	$	32.1		$	28.2
	Net earnings	1.3			1.2
	Dividend paid	(0.2		)	(0.3		)
	Other	—			(0.1		)
	Balance as of March 31,	$	33.2		$	29

FINANCIAL_INSTRUMENTS

FINANCIAL INSTRUMENTS:	3 Months Ended
	Mar. 31, 2015
FAIR VALUE MEASUREMENT:
FAIR VALUE MEASUREMENT
	NOTE 13 — FINANCIAL INSTRUMENTS:
	Subtopic 820-10 of ASC “Fair value measurement and disclosures — Overall” establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under Subtopic 820-10 are described below:
	Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.
	Level 2 - Inputs that are observable, either directly or indirectly, but do not qualify as Level 1 inputs. (i.e., quoted prices for similar assets or liabilities).
	Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).
	The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable (other than accounts receivable associated with provisionally priced sales) and accounts payable approximate fair value due to their short maturities. Consequently, such financial instruments are not included in the following table that provides information about the carrying amounts and estimated fair values of other financial instruments that are not measured at fair value in the condensed consolidated balance sheet as of March 31, 2015 and December 31, 2014 (in millions):
		At March 31, 2015				At December 31, 2014
		Carrying Value		Fair Value		Carrying Value		Fair Value
	Liabilities:
	Long-term debt	$	4,206.3	$	4,411.4	$	4,206.0	$	4,369.6
	Long-term debt is carried at amortized cost and its estimated fair value is based on quoted market prices classified as Level 1 in the fair value hierarchy except for the case of the Yankee bonds and the 6.375% senior unsecured notes due date July 2015 which qualify as Level 2 in the fair value hierarchy as they are based on quoted priced in market that are not active.
	Fair values of assets and liabilities measured at fair value on a recurring basis were calculated as follows as of March 31, 2015 and December 31, 2014 (in millions):
	Fair Value at Measurement Date Using:
	Description	Fair Value		Quoted prices in		Significant other		Significant
		as of		active markets for		observable		unobservable
		March 31,		identical assets		inputs		inputs
		2015		(Level 1)		(Level 2)		(Level 3)
	Assets:
	Short term investment:
	- Trading securities	$	79.1	$	79.1	—		$	—
	- Available-for-sale debt securities:
	Corporate bonds	0.3		—		$	0.3	—
	Asset backed securities	—		—		—		—
	Mortgage backed securities	4.4		—		4.4		—
	Accounts receivable:
	- Embedded derivatives - Not classified as hedges:
	Provisionally priced sales:
	Copper	167.4		167.4		—		—
	Molybdenum	85.1		85.1		—		—
	Total	$	336.3	$	331.6	$	4.7	$	—
	Fair Value at Measurement Date Using:
	Description	Fair Value		Quoted prices in		Significant other		Significant
		as of		active markets for		observable inputs		unobservable
		December		identical assets		(Level 2)		inputs
		31, 2014		(Level 1)				(Level 3)
	Assets:
	Short term investment:
	- Trading securities	$	333.7	$	333.7	—		$	—
	- Available-for-sale debt securities:
	Corporate bonds	0.3		—		$	0.3	—
	Asset backed securities	—		—		—		—
	Mortgage backed securities	4.6		—		4.6		—
	Accounts receivable:
	- Embedded derivatives - Not classified as hedges:
	Provisionally priced sales:
	Copper	202.2		202.2		—		—
	Molybdenum	105.5		105.5		—		—
	Total	$	646.3	$	641.4	$	4.9	$	—
	The Company’s short-term trading securities investments are classified as Level 1 because they are valued using quoted prices of the same securities as they consist of bonds issued by public companies and publicly traded. The Company’s short-term available-for-sale investments are classified as Level 2 because they are valued using quoted prices for similar investments.
	The Company’s accounts receivables associated with provisionally priced copper sales are valued using quoted market prices based on the forward price on the LME or on the COMEX. Such value is classified within Level 1 of the fair value hierarchy. Molybdenum prices are established by reference to the publication Platt’s Metals Week and are considered Level 1 in the fair value hierarchy.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS:	3 Months Ended
	Mar. 31, 2015
SUBSEQUENT EVENTS:
SUBSEQUENT EVENTS:
	NOTE 14 — SUBSEQUENT EVENTS:
	Financing:
	On April 20, 2015, the Company issued $2.0 billion of fixed-rate senior unsecured notes. This debt was issued in two tranches, $500 million due 2025 at an annual interest rate of 3.875% and $1.5 billion due 2045 at an annual interest rate of 5.875%. These notes will be general unsecured obligations of the Company and will rank equally with all of its existing and future unsecured and unsubordinated debt. Net proceeds will be used for general corporate purposes, including the financing of the Company´s capital expenditure program.
	Dividends:
	On April 23, 2015, the Board of Directors authorized a dividend of $0.10 per share payable on May 27, 2015 to shareholders of record at the close of business on May 13, 2015.

SHORTTERM_INVESTMENTS_Tables

SHORT-TERM INVESTMENTS: (Tables)	3 Months Ended
	Mar. 31, 2015
SHORT-TERM INVESTMENTS:
Schedule of short-term investments
	Short-term investments were as follows ($ in millions):
		At March 31,			At December 31,
		2015			2014
	Trading securities	$	79.1		$	333.7
	Weighted average interest rate	1.16		%	0.78		%
	Available-for-sale	$	4.7		$	4.9
	Weighted average interest rate	0.46		%	0.44		%
	Total	$	83.8		$	338.6
Summary of activities in short-term investments
	The following table summarizes the activity of these investments by category (in millions):
		Three months ended
		March 31,
		2015			2014
	Trading:
	Interest earned	$	0.3		$	1.4
	Unrealized gain (loss) at the end of the period	$	2.8		$	2.2
	Available-for-sale:
	Interest earned	(*)			(*)
	Investment redeemed	$	0.2		$	—
	(*) Less than $0.1 million.

INVENTORIES_Tables

INVENTORIES: (Tables)	3 Months Ended
	Mar. 31, 2015
INVENTORIES:
Schedule of inventories
	(in millions)	At March 31,		At December 31,
		2015		2014
	Inventory, current:
	Metals at average cost:
	Finished goods	$	89.1	$	84.6
	Work-in-process	440.8		450.5
	Supplies at average cost:	313.0		301.4
	Total current inventory	$	842.9	$	836.5
	Inventory, long-term:
	Leach stockpiles	$	561.0	$	512.7

INCOME_TAXES_Tables

INCOME TAXES: (Tables)	3 Months Ended
	Mar. 31, 2015
INCOME TAXES:
Schedule of income tax provision and effective income tax rate
	The income tax provision and the effective income tax rate for the first quarter 2015 and 2014 were as follows ($ in millions):
		2015			2014
	Income tax provision	$	129.2		$	204.2
	Effective income tax rate	31.5		%	39.1		%
Components of the provision for income taxes
	Components of income tax provision for the first quarter of 2015 and 2014 include the following ($ in million):
		2015			2014
	Statutory income tax provision	$	111.2		$	166.6
	Peruvian royalty	0.5			1.6
	Mexican royalty	13.7			24.0
	Peruvian special mining tax	3.8			12.0
	Total income tax provision	$	129.2		$	204.2
Summary of income tax rate and dividend tax rate due to change in enacted tax law
	Year	Income Tax Rate		Dividend Tax Rate
	2015- 2016	28	%	6.8	%
	2017- 2018	27	%	8.0	%
	2019 and later	26	%	9.3	%

PROVISIONALLY_PRICED_SALES_Tab

PROVISIONALLY PRICED SALES: (Tables)	3 Months Ended
	Mar. 31, 2015
PROVISIONALLY PRICED SALES:
Schedule of provisionally priced copper and molybdenum sales outstanding
	Following are the provisionally priced copper and molybdenum sales outstanding at March 31, 2015:
		Sales volume	Priced at		Month of settlement
		(million lbs.)	(per pound)
	Copper	60.9	$	2.75	From April 2015 to May 2015
	Molybdenum	10.3	$	8.28	From April 2015 to July 2015

ASSET_RETIREMENT_OBLIGATION_Ta

ASSET RETIREMENT OBLIGATION: (Tables)	3 Months Ended
	Mar. 31, 2015
ASSET RETIREMENT OBLIGATION:
Summary of the asset retirement obligation activity
	The following table summarizes the asset retirement obligation activity for the three months ended March 31, 2015 and 2014 (in millions):
		2015			2014
	Balance as of January 1	$	116.1		$	124.8
	Changes in estimates	—			26.7
	Additions	—			—
	Payments	(4.2		)	(1.5		)
	Accretion expense	2.9			2
	Balance as of March 31,	$	114.8		$	152

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS: (Tables)	3 Months Ended
	Mar. 31, 2015
Related party transactions
Receivable and payable balances with related parties
	Receivable and payable balances with related parties are shown below (in millions):
		At March 31,		At December 31,
		2015		2014
	Related parties receivable current:
	Asarco LLC	$	0.8	$	—
	Compania Perforadora Mexico S.A.P.I. de C.V. and affiliates	0.4		0.2
	Grupo Mexico	0.8		0.7
	Mexico Generadora de Energia S. de R.L. (“MGE”)	24.1		31.9
	Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates	0.1		—
		$	26.2	$	32.8
	Related parties receivable non-current:
	MGE	$	161.2	$	161.2
		At March 31,		At December 31,
		2015		2014
	Related parties payable:
	Asarco LLC	$	—	$	13.8
	Breaker S.A. de C.V. and affiliates (“Breaker”)	0.2		0.7
	Eolica El Retiro, S.A.P.I. de C.V.	0.2		1.6
	Ferrocarril Mexicano S.A. de C.V.	0.5		1.8
	Grupo Mexico	5.9		2.8
	Higher Technology S.A.C.	—		0.2
	MGE	4.7		45.2
	Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates	2.0		1.7
	Mexico Transportes Aereos S.A. de C.V. (“Mextransport”)	1.4		1.3
		$	14.9	$	69.1
Grupo Mexico and affiliates
Related party transactions
Purchase and sales activities with related parties
	The following table summarizes the purchase and sale activities with Grupo Mexico and its affiliates in the three months ended March 31, 2015 and 2014 (in millions):
		2015		2014
	Purchase activity
	Asarco LLC	$	7.7	$	15.1
	Compania Perforadora Mexico S.A.P.I. de C.V and affiliates	0.3		1.2
	Eolica El Retiro, S.A.P.I. de C.V.	3.9		—
	Ferrocarril Mexicano S.A de C.V.	3.3		5.3
	Grupo Mexico		3.4		3.5
	MGE	37.8		48.9
	Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates	10.6		47.2
	Total Purchases	$	67.0	$	121.2
	Sales activity
	Asarco LLC	$	35.9	$	—
	Compania Perforadora Mexico S.A.P.I. de C.V and affiliates	0.1		0.1
	MGE	22.2		24.3
	Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates	0.2		0.2
	Total Sales	$	58.4	$	24.6
Companies with relationship to the controlling group
Related party transactions
Purchase and sales activities with related parties
	The following table summarizes the purchase and sales activities with other Larrea family companies in the three months ended March 31, 2015 and 2014 (in millions):
	Mextransport:	2015		2014
	Purchase activity	$	0.1	$	0.6
	Sales activity	$	0.1	$	0.1
Companies with relationship to SCC executive officers' families
Related party transactions
Purchase activity with related parties
	The following table summarizes the purchase activities with companies with relationships to SCC executive officers in the three months ended March 31, 2015 and 2014 (in millions):
		2015		2014
	Breaker	$	0.3	$	0.9
	Higher Technology S.A.C.	0.3		0.3
	Sempertrans and affiliates	0.2		0.3
	Servicios y Fabricaciones Mecanicas S.A.C.	0.2		0.3
	Total purchases	$	1.0	$	1.8

BENEFIT_PLANS_Tables

BENEFIT PLANS: (Tables)	3 Months Ended
	Mar. 31, 2015
Post retirement defined benefit plan
Components of net periodic benefit costs
Schedule of the components of net periodic benefit costs
	The components of net periodic benefit costs for the three months ended March 31, 2015 and 2014 are as follows (in millions):
		2015			2014
	Service cost	$	0.2		$	0.3
	Interest cost	0.2			0.3
	Expected return on plan assets	(0.7		)	(0.9		)
	Amortization of net actuarial loss	(*		)	(0.2		)
	Amortization of net loss/(gain)	(*		)	(*)
	Net periodic benefit costs	$	(0.3	)	$	(0.5	)
	(*) amount is lower than $0.1 million
Post-retirement Health Care Plan
Components of net periodic benefit costs
Schedule of the components of net periodic benefit costs
	The components of net periodic benefit cost for the three months ended March 31, 2015 and 2014 are as follows (in millions):
		2015			2014
	Interest cost	$	0.3		$	0.3
	Amortization of net loss (gain)	(0.1		)	(*)
	Amortization of prior service cost (credit)	(*)			(*)
	Net periodic benefit cost	$	0.2		$	0.3
	(*) amount is lower than $0.1 million

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES: (Tables)	3 Months Ended
	Mar. 31, 2015
COMMITMENTS AND CONTINGENCIES:
Schedule of environmental capital investments
	Environmental capital investments in the three months ended March 31, 2015 and 2014 were as follows (in millions):
		2015		2014
	Peruvian operations	$	18.9	$	18.3
	Mexican operations	3.2		6.4
		$	22.1	$	24.7

SEGMENT_AND_RELATED_INFORMATIO1

SEGMENT AND RELATED INFORMATION: (Tables)	3 Months Ended
	Mar. 31, 2014
SEGMENT AND RELATED INFORMATION:
Schedule of financial information relating to Company's segments
	Three Months Ended March 31, 2015
	(in millions)
		Mexican		Mexican		Peruvian		Corporate, other			Consolidated
		Open-Pit		IMMSA Unit		Operations		and eliminations
	Net sales outside of segments	$	664.2	$	90.3	$	520.3	—			$	1,274.80
	Intersegment sales	—		18.9		—		$	(18.9	)	—
	Cost of sales (exclusive of depreciation, amortization and depletion)	299.2		89.9		303		(12.3		)	679.8
	Selling, general and administrative	9.4		4		10.3		1.2			24.9
	Depreciation, amortization and depletion	54.1		7.7		53		2.2			117
	Exploration	0.8		2.3		2.7		4.5			10.3
	Environmental remediation	5.9		—		—		—			5.9
	Operating income	$	294.8	$	5.3	$	151.3	$	(14.5	)	436.9
	Less:
	Interest, net										(23.1		)
	Other income (expense)										(3.7		)
	Income taxes										(129.2		)
	Equity earnings of affiliate										2.8
	Non-controlling interest										(1.3		)
	Net income attributable to SCC										$	282.4
	Capital investment	$	184.7	$	6.6	$	53.2	$	1.3		$	245.8
	Property, net	$	4,502.60	$	388.3	$	2,560.40	$	94.3		$	7,545.60
	Total assets	$	7,569.80	$	890.6	$	3,647.10	$	(859.6	)	$	11,247.90
	Three Months Ended March 31, 2014
	(in millions)
		Mexican		Mexican		Peruvian		Corporate, other			Consolidated
		Open-Pit		IMMSA Unit		Operations		and eliminations
	Net sales outside of segments	$	648.2	$	95.9	$	610.3	—			$	1,354.40
	Intersegment sales			24.4				$	(24.4	)	—
	Cost of sales (exclusive of depreciation, amortization and depletion)	229.5		84.4		323.1		4.9			641.9
	Selling, general and administrative	8.7		3.7		11.2		0.9			24.5
	Depreciation, amortization and depletion	54.7		7.8		47.2		0.8			110.5
	Exploration	0.9		5		1.9		6.8			14.6
	Operating income	$	354.4	$	19.4	$	226.9	$	(37.8	)	562.9
	Less:
	Interest, net										(36.0		)
	Other income (expense)										(4.2		)
	Income taxes										(204.1		)
	Equity earnings of affiliate										6
	Non-controlling interest										(1.2		)
	Net income attributable to SCC										$	323.4
	Capital investment	$	267.7	$	9	$	57.8	$	2.4		$	336.9
	Property, net	$	3,764.70	$	380.8	$	2,454.20	$	85.8		$	6,685.50
	Total assets	$	6,314.90	$	863	$	3,428.50	$	658.3		$	11,264.70

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS' EQUITY: (Tables)	3 Months Ended
	Mar. 31, 2015
STOCKHOLDERS' EQUITY
Schedule of activity in treasury stock
	Activity in treasury stock in the three- month period ended March 31, 2015 and 2014 is as follows (in millions):
		2015			2014
	Southern Copper common shares
	Balance as of January 1,	$	1,693.50		$	1,011.00
	Purchase of shares	370.1			52.5
	Balance as of March 31,	2,063.60			1,063.50
	Parent Company (Grupo Mexico) common shares
	Balance as of January 1,	207.2			205.6
	Other activity, including dividend, interest and currency translation effect	(2.9		)	6.3
	Balance as of March 31,	204.3			211.9
	Treasury stock balance as of March 31,	$	2,267.90		$	1,275.40
Schedule of share repurchase program activity
								Total Number of	Maximum Number
						Average		Shares	of Shares that May
				Total Number		Price		Purchased as	Yet Be Purchased
	Period			of Shares		Paid per		Part of Publicly	Under the Plan	Total Cost
	From	To		Purchased		Share		Announced Plan	@ $29.18 (*)	($ in millions)
	2008	2012		46,914,486		$	18.72	46,914,486		$	878.1
	2013			10,245,000		27.47		57,159,486		281.4
	2014			22,711,428		30.06		79,870,914		682.8
	2015
	1/1/15	1/31/15		5,927,154		27.12		85,798,068		160.7
	2/1/15	2/28/15		2,590,076		29.45		88,388,144		76.3
	3/1/15	3/31/15		4,563,649		29.16		92,951,793		133.1
	Total first quarter			13,080,879		29.29				370.1
									26,992,079
	Total purchased			92,951,793		$	23.80			$	2,212.4
	(*) NYSE closing price of SCC common shares at March 31, 2015.
Employee Stock Purchase 2007 Plan
STOCKHOLDERS' EQUITY
Schedule of stock based compensation expense and unrecognized compensation expense
	The stock based compensation expense for the first quarter 2015 and 2014 and the unrecognized compensation expense as of March 31, 2015 and 2014 under the Employee Stock Purchase Plan were as follows (in millions):
		2015			2014
	Stock based compensation expense	$	—		$	0.5
	Unrecognized compensation expense	$	—		$	1.6
Schedule of stock award activity
		Shares		Unit Weighted Average
				Grant Date Fair Value
	Outstanding shares at January 1, 2015	4,298,612		$	1.16
	Granted	—		—
	Exercised	—		—
	Forfeited	(3,660,945	)	$	1.16
	Outstanding shares at March 31, 2015	637,667		$	1.16
	Outstanding shares at January 1, 2014	4,449,599		$	1.16
	Granted	—		—
	Exercised	(40,632	)	$	1.16
	Forfeited	—		—
	Outstanding shares at March 31, 2014	4,408,967		$	1.16
Employee Stock Purchase 2010 Plan
STOCKHOLDERS' EQUITY
Schedule of stock based compensation expense and unrecognized compensation expense
	The stock based compensation expense for the first quarter 2015 and 2014 and the unrecognized compensation expense under this plan were as follows (in millions):
		2015			2014
	Stock based compensation expense	$	0.1		$	0.1
	Unrecognized compensation expense	$	2.0		$	2.5
Schedule of stock award activity
	The following table presents the stock award activity of this plan for the three months ended March 31, 2015 and 2014:
		Shares		Unit Weighted Average
				Grant Date Fair Value
	Outstanding shares at January 1, 2015	2,287,891		$	2.05
	Granted	—		—
	Exercised	—		—
	Forfeited	—		—
	Outstanding shares at March 31, 2015	2,287,891		$	2.05
	Outstanding shares at January 1, 2014	3,012,464		$	2.05
	Granted	—		—
	Exercised	(249,446	)	$	2.05
	Forfeited	—		—
	Outstanding shares at March 31, 2014	2,763,018		$	2.05
Employee Stock Purchase 2015 Plan | Voluntary Resignation
STOCKHOLDERS' EQUITY
Schedule of percentage deduction from the amount to be paid to the employee on termination of service
		% Deducted
	If the resignation occurs during:
	1st year after the grant date	90	%
	2nd year after the grant date	80	%
	3rd year after the grant date	70	%
	4th year after the grant date	60	%
	5th year after the grant date	50	%
	6th year after the grant date	40	%
	7th year after the grant date	20	%
Employee Stock Purchase 2015 Plan | Involuntary Termination
STOCKHOLDERS' EQUITY
Schedule of percentage deduction from the amount to be paid to the employee on termination of service
		% Deducted
	If the termination occurs during:
	1st year after the grant date	100	%
	2nd year after the grant date	95	%
	3rd year after the grant date	90	%
	4th year after the grant date	80	%
	5th year after the grant date	70	%
	6th year after the grant date	60	%
	7th year after the grant date	50	%

NONCONTROLLING_INTEREST_Tables

NON-CONTROLLING INTEREST (Tables)	3 Months Ended
	Mar. 31, 2015
NON-CONTROLLING INTEREST
Summary of non-controlling interest activity
		2015			2014
	Balance as of January 1,	$	32.1		$	28.2
	Net earnings	1.3			1.2
	Dividend paid	(0.2		)	(0.3		)
	Other	—			(0.1		)
	Balance as of March 31,	$	33.2		$	29

FINANCIAL_INSTRUMENTS_Tables

FINANCIAL INSTRUMENTS: (Tables)	3 Months Ended
	Mar. 31, 2015
FAIR VALUE MEASUREMENT:
Schedule of carrying amount and estimated fair values of the Company's financial instruments	Consequently, such financial instruments are not included in the following table that provides information about the carrying amounts and estimated fair values of other financial instruments that are not measured at fair value in the condensed consolidated balance sheet as of March 31, 2015 and December 31, 2014 (in millions):
		At March 31, 2015				At December 31, 2014
		Carrying Value		Fair Value		Carrying Value		Fair Value
	Liabilities:
	Long-term debt	$	4,206.3	$	4,411.4	$	4,206.0	$	4,369.6
Schedule of fair values of assets and liabilities measured at fair value on a recurring basis
	Fair values of assets and liabilities measured at fair value on a recurring basis were calculated as follows as of March 31, 2015 and December 31, 2014 (in millions):
	Fair Value at Measurement Date Using:
	Description	Fair Value		Quoted prices in		Significant other		Significant
		as of		active markets for		observable		unobservable
		March 31,		identical assets		inputs		inputs
		2015		(Level 1)		(Level 2)		(Level 3)
	Assets:
	Short term investment:
	- Trading securities	$	79.1	$	79.1	—		$	—
	- Available-for-sale debt securities:
	Corporate bonds	0.3		—		$	0.3	—
	Asset backed securities	—		—		—		—
	Mortgage backed securities	4.4		—		4.4		—
	Accounts receivable:
	- Embedded derivatives - Not classified as hedges:
	Provisionally priced sales:
	Copper	167.4		167.4		—		—
	Molybdenum	85.1		85.1		—		—
	Total	$	336.3	$	331.6	$	4.7	$	—
	Fair Value at Measurement Date Using:
	Description	Fair Value		Quoted prices in		Significant other		Significant
		as of		active markets for		observable inputs		unobservable
		December		identical assets		(Level 2)		inputs
		31, 2014		(Level 1)				(Level 3)
	Assets:
	Short term investment:
	- Trading securities	$	333.7	$	333.7	—		$	—
	- Available-for-sale debt securities:
	Corporate bonds	0.3		—		$	0.3	—
	Asset backed securities	—		—		—		—
	Mortgage backed securities	4.6		—		4.6		—
	Accounts receivable:
	- Embedded derivatives - Not classified as hedges:
	Provisionally priced sales:
	Copper	202.2		202.2		—		—
	Molybdenum	105.5		105.5		—		—
	Total	$	646.3	$	641.4	$	4.9	$	—

DESCRIPTION_OF_THE_BUSINESS_De

DESCRIPTION OF THE BUSINESS: (Details)	Mar. 31, 2015
DESCRIPTION OF THE BUSINESS:
Percentage of ownership interest held by the parent company	86.00%

SHORTTERM_INVESTMENTS_Details

SHORT-TERM INVESTMENTS: (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Investments
Trading securities	$79,100,000		$333,700,000
Weighted average interest rate (as a percent)	1.16%		0.78%
Available-for-sale	4,700,000		4,900,000
Weighted average interest rate (as a percent)	0.46%		0.44%
Total short-term investments	83,820,000		338,589,000
Trading:
Interest earned	300,000	1,400,000
Unrealized gain (loss) at the end of the period	2,800,000	2,200,000
Available-for-sale
Investment redeemed	200,000
Maximum
Available-for-sale
Interest earned	$100,000	$100,000

INVENTORIES_Details

INVENTORIES: (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Metals at lower of average cost or market:
Finished goods	$89,100,000		$84,600,000
Work-in-process	440,800,000		450,500,000
Supplies at average cost	313,000,000		301,400,000
Total current inventory	842,925,000		836,464,000
Inventory, long-term:
Leach stockpiles	560,956,000		512,718,000
Leaching costs capitalized as long-term inventory of leachable material	104,600,000	86,100,000
Leachable material inventories recognized in cost of sales	$50,600,000	$39,200,000

INCOME_TAXES_Details

INCOME TAXES: (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
INCOME TAXES:
Income tax provision	$129,193,000	$204,162,000
Effective income tax rate (as a percent)	31.50%	39.10%
Income Taxes
Decrease in effective tax rate (as a percent)	-2.60%
Statutory income tax provision	111,200,000	166,600,000
Peru
Income Taxes
Increment in operating income margin for royalty tax (as a percent)	5.00%
Increase in royalty tax rate for each 5% increase up to 12% increase in operating income margin (as a percent)	0.75%
Royalty charge	5,700,000	7,700,000
Royalty	500,000	1,600,000
Special mining tax	3,800,000	12,000,000
Increase in special mining tax rate for each 5% increase up to 85% increase in operating income margin (as a percent)	0.40%
Accrued special mining tax	3,800,000	12,000,000
Income tax rate ( as a percent)			30.00%
Dividend tax rate	4.10%
Peru | Minimum
Income Taxes
Mining royalty tax (as a percent)	1.00%
Royalty charge assessed as a percentage of net sales	1.00%
Special mine tax (as a percent)	2.00%
Increment in operating income margin (as a percent)	5.00%
Peru | Maximum
Income Taxes
Mining royalty tax (as a percent)	12.00%
Operating income margin for royalty tax (as a percent)	10.00%
Increment in operating income margin for royalty tax (as a percent)	12.00%
Special mine tax (as a percent)	8.40%
Operating income margin (as a percent)	10.00%
Increment in operating income margin (as a percent)	85.00%
Mexico
Income Taxes
Decrease in effective tax rate (as a percent)	-1.30%
Mining royalty tax (as a percent)	7.50%
Royalty charge Mexico	56,300,000
Additional royalty tax over net sales from sales of gold, silver and platinum (as a percent)	0.50%
Royalty Mexico	$13,700,000	$24,000,000
2015 - 2016
Income Taxes
Income tax rate ( as a percent)			28.00%
Dividend tax rate			6.80%
2017 - 2018
Income Taxes
Income tax rate ( as a percent)			27.00%
Dividend tax rate			8.00%
2019 and later
Income Taxes
Income tax rate ( as a percent)			26.00%
Dividend tax rate			9.30%

PROVISIONALLY_PRICED_SALES_Det

PROVISIONALLY PRICED SALES: (Details)	Mar. 31, 2015
	lb
Copper | April and May 2015
PROVISIONALLY PRICED SALES:
Nonmonetary notional amount of commodity (in million lbs.)	60,900,000
Provisional price	2.75
Molybdenum | April To July 2015
PROVISIONALLY PRICED SALES:
Nonmonetary notional amount of commodity (in million lbs.)	10,300,000
Provisional price	8.28

ASSET_RETIREMENT_OBLIGATION_De

ASSET RETIREMENT OBLIGATION: (Details) (USD $)	3 Months Ended		63 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015
	item
ASSET RETIREMENT OBLIGATION:
Period after which successive reviews are required by the law (in years)	5 years
Accepted value of the Lima office building	$27,800,000		$27,800,000
Cumulative guarantee amount	17,900,000		17,900,000
Number of units with future closure costs recognized as an asset retirement obligation	3
Environmental costs
Environmental remediation	5,928,000
Asset retirement obligation activity
Balance at the beginning of the period	116,100,000	124,800,000
Changes in estimates		26,700,000
Payments	-4,200,000	-1,500,000
Accretion expense	2,900,000	2,000,000
Balance at the end of the period	114,800,000	152,000,000	114,800,000
Mexico
Environmental costs
Plant demolition and soil remediation budgeted cost			62,400,000
Environmental remediation			$51,100,000

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS: (Details)

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

31-May-10

Mar. 31, 2015

Mar. 31, 2014

Mar. 31, 2012

Dec. 31, 2012

Dec. 31, 2005

Dec. 31, 2014

Mar. 31, 2012

Mar. 31, 2012

Mar. 31, 2012

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2014

Aug. 04, 2014

Mar. 31, 2015

Mar. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

USD ($)

USD ($)

Grupo Mexico

Grupo Mexico

Grupo Mexico

MGE

MGE

MGE

MGE

MGE

MGE

MGE

MGE

MGE

MGE

Compania Perforadora Mexico S.A.P.I. de C.V.

Compania Perforadora Mexico S.A.P.I. de C.V.

Compania Perforadora Mexico S.A.P.I. de C.V.

Equity investment in affiliate

Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates

Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates

Mexico Proyectos y Desarrollos, S.A. de C.V. and affiliates

Grupo Mexico and affiliates

Grupo Mexico and affiliates

Asarco LLC ("Asarco")

Asarco LLC ("Asarco")

Asarco LLC ("Asarco")

Higher Technology S.A.C.

Higher Technology S.A.C.

Higher Technology S.A.C.

Breaker, S.A. de C.V and affiliates ("Breaker")

Breaker, S.A. de C.V and affiliates ("Breaker")

Breaker, S.A. de C.V and affiliates ("Breaker")

Mexico Transportes Aereos S.A. de C.V. ("Mextransport")

Mexico Transportes Aereos S.A. de C.V. ("Mextransport")

Mexico Transportes Aereos S.A. de C.V. ("Mextransport")

Ferrocarril Mexicano, S.A. de C.V.

Ferrocarril Mexicano, S.A. de C.V.

Ferrocarril Mexicano, S.A. de C.V.

Eolica El Retiro, S.A.P.I. de C.V.

Eolica El Retiro, S.A.P.I. de C.V.

Eolica El Retiro, S.A.P.I. de C.V.

Servicios y Fabricaciones Mecanicas S.A.C.

Servicios y Fabricaciones Mecanicas S.A.C.

Companies with relationship to SCC executive officers' families

Companies with relationship to SCC executive officers' families

Sempertrans and affiliates

Sempertrans and affiliates

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

item

USD ($)

Controladora de Infraestructura Energetica Mexico, S. A. de C. V.

Controladora de Infraestructura Energetica Mexico, S. A. de C. V.

Minera Mexico

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

item

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

MXN

Maximum

Related party transactions

Related parties receivables current:

$26,239,000

$32,835,000

$800,000

$700,000

$24,100,000

$31,900,000

$400,000

$200,000

$100,000

$800,000

Related parties receivable non-current:

161,244,000

161,244,000

161,200,000

184,000,000

161,200,000

Related parties payables:

14,944,000

69,083,000

5,900,000

2,800,000

4,700,000

45,200,000

2,000,000

1,700,000

13,800,000

200,000

200,000

700,000

1,400,000

1,300,000

500,000

1,800,000

200,000

1,600,000

Total purchases from related parties

3,400,000

3,500,000

37,800,000

48,900,000

300,000

1,200,000

10,600,000

47,200,000

67,000,000

121,200,000

7,700,000

15,100,000

300,000

300,000

300,000

900,000

100,000

600,000

3,300,000

5,300,000

3,900,000

200,000

300,000

1,000,000

1,800,000

200,000

300,000

Sales revenues from related parties

22,200,000

24,300,000

100,000

100,000

200,000

200,000

58,400,000

24,600,000

35,900,000

100,000

100,000

Number of power plants

2

Maximum amount of line of credit granted to related party

350,000,000

Interest rate (as a percent)

4.40%

5.75%

Percentage of interest acquired

100.00%

100.00%

Value of interest acquired

150,000,000

1,928,600,000

Ownership percentage

0.00%

Loan repaid

150,000,000

Loan granted

56,600,000

Interest earned

$2,300,000

$2,300,000

Number of wind turbines

37

Ownership percentage

44.20%

BENEFIT_PLANS_Details

BENEFIT PLANS: (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
BENEFIT PLANS:
Number of expatriate noncontributory defined benefit pension plans	2
Post retirement defined benefit plan
Defined benefit plan, net periodic benefit cost
Service cost	$0.20	$0.30
Interest cost	0.2	0.3
Expected return on plan assets	-0.7	-0.9
Amortization of net actuarial loss		-0.2
Net periodic benefit costs	-0.3	-0.5
Post retirement defined benefit plan | Maximum
Defined benefit plan, net periodic benefit cost
Amortization of net actuarial loss	0.1
Amortization of net loss (gain)	-0.1	-0.1
Post-retirement Health Care Plan
Defined benefit plan, net periodic benefit cost
Interest cost	0.3	0.3
Amortization of net loss (gain)	-0.1
Net periodic benefit costs	0.2	0.3
Post-retirement Health Care Plan | Maximum
Defined benefit plan, net periodic benefit cost
Amortization of net loss (gain)		-0.1
Amortization of prior service cost (credit)	$0.10	$0.10

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES: (Details)

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

Mar. 02, 2015

Mar. 02, 2015

Mar. 31, 2015

Mar. 31, 2014

Mar. 02, 2015

Sep. 15, 2014

Sep. 15, 2014

Aug. 29, 2014

Aug. 06, 2014

Mar. 31, 2015

Dec. 31, 2014

Dec. 31, 2014

Mar. 31, 2014

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2011

USD ($)

MXN

USD ($)

USD ($)

Buenavista del Cobre, S.A. de C.V

Buenavista del Cobre, S.A. de C.V

Buenavista del Cobre, S.A. de C.V

Buenavista del Cobre, S.A. de C.V

Buenavista del Cobre, S.A. de C.V

Buenavista del Cobre, S.A. de C.V

Buenavista del Cobre, S.A. de C.V

Buenavista del Cobre, S.A. de C.V

Peru

Peru

Peru

Peru

Peru

Mexico

Mexico

Mexico

item

item

USD ($)

MXN

item

m3

MXN

USD ($)

MXN

USD ($)

USD ($)

Maximum

USD ($)

USD ($)

person

km

item

item

category

Environmental costs

Environmental capital investment

$22,100,000

$24,700,000

$18,900,000

$18,300,000

$3,200,000

$6,400,000

Period required for ambient air monitoring as per environmental regulation

1 day

Revised air quality standards for sulfur dioxide as per new environmental regulation (in micrograms per cubic meter)

20

Air quality standards level for sulfur dioxide to be maintained when emission is excess than specified as per new environmental regulation (in micrograms per cubic meter)

80

Number of atmospheric basins established that require further attention

3

Number of months for identification of contaminated sites and around in facilities

12 months

Period for preparation of decontamination plan

P24M

Period of extension for preparation of decontamination plan

1 year

Number of days in which results of soil confirmation tests are to be presented to authorities

30 days

Number of categories of collective actions

3

Minimum number of people claiming injury due to collective action initiative in Civil Federal Procedures Code (CFPC)

30

Volume of copper sulfate solution (in cubic meters)

40,000

Distance of pond under construction from mine (in kilometers)

10

Amount of administrative fines and sanctions (in pesos)

1,700,000

23,500,000

Number of zones

5

Amount committed to the Mexican Federal Government to establish a trust (in peso)

150,000,000

2,000,000,000

Amount contributed to the Mexican Federal Government (in peso)

1,000,000,000

Number of administrative proceedings.

4

Number of workers hired

1,200

Estimated contingent liability

97,300,000

Amount already paid

16,400,000

Amount deposited in the trust (in peso)

$74,900,000

1,000,000,000

Number of lawsuits

3

COMMITMENTS_AND_CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES: (Details 2)

3 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

Mar. 31, 2015

Aug. 31, 2009

Mar. 31, 2015

Mar. 31, 2015

31-May-11

Mar. 31, 2012

Mar. 31, 2015

Dec. 31, 1992

Dec. 31, 1978

Dec. 31, 1971

Apr. 30, 1996

Mar. 31, 2014

Mar. 31, 2015

Tia Maria

Virgen Maria

Virgen Maria

Garcia Ataucuri and Others against SCC's Peruvian Branch

Garcia Ataucuri and Others against SCC's Peruvian Branch

Armando Cornejo Flores Against SCC Peruvian Branch former workers

Garcia Ataucuri litigation

Peru

Peru

Peru

Peru

Peru

Peru

ha

USD ($)

ha

item

item

item

plaintiff

Garcia Ataucuri and Others against SCC's Peruvian Branch

Garcia Ataucuri and Others against SCC's Peruvian Branch

Labor Matters

person

PEN

item

item

Litigation matter

Number of former employees who filed the complaint

900

Statutory participation of mine workers in pre-tax profit (as a percent)

8.00%

10.00%

Statutory participation of mine workers in pre-tax profit paid in cash (as a percent)

100.00%

4.00%

40.00%

Statutory participation of mine workers in pre-tax profit received as equity interest of enterprise (as a percent)

60.00%

Percentage of pre-tax profits delivered as "labor shares"

5.50%

Damages sought by the plaintiff(includes old soles and labor shares)

38,763,806.80

Damages sought by the plaintiff

3.87638068

Face value of one labor share

100

Labor shares issued by the Branch (as a percent)

100.00%

Plaintiffs do not represent the percent of SCC's eligible employees

100.00%

Soles de oro equivalent to today's one nuevo sol

1,000,000,000

Number of plaintiffs involved in lawsuits filed

800

Number of former Branch workers

104

216

37

Area of mining concession (in hectares)

32,989.64

943.72

Percentage of mining concession

2.90%

Purchase price of shares paid to former stockholders

$2,000,000

Percentage of labor unionized

70.00%

Total number of workers

4,546

Number of labor unions

7

Number of labor unions represent majority of workers

3

Number of labor unions other than majority workers unions

4

COMMITMENTS_AND_CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES: (Details 3)

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Jun. 30, 2013

Jun. 30, 2013

Dec. 31, 2014

Dec. 31, 2014

Mar. 31, 2015

Dec. 31, 2005

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Dec. 31, 1997

Jun. 30, 2014

Jul. 31, 2014

Mexico

Tia Maria

Toquepala Concentrator Expansion

Toquepala Concentrator Expansion

Toquepala Concentrator Expansion

Toquepala Concentrator Expansion

Toquepala Concentrator Expansion

MGE

MGE

MGE

Copper

Molybdenum

Enersur

Electroperu S.A

Kallpa

USD ($)

Peru

Peru

Peru

Peru

Peru

Peru

item

Mexico

Toquepala Concentrator Expansion

Toquepala Concentrator Expansion

Power purchase agreements

Power purchase agreements

Power purchase agreements

USD ($)

USD ($)

USD ($)

PEN

USD ($)

PEN

item

Peru

Peru

T

MW

T

T

Other commitments:

Project Budget

$1,400,000,000

$1,200,000,000

Amount expended in current year

354,000,000

348,600,000

Annual production ( in tons)

120,000

Amount committed to funding for social and infrastructure improvement projects

33,000,000

100,000,000

Estimated increase in annual production (in tons)

100,000

3,100

Term of power purchase agreement related to sale of power plant

20 years

20 years

10 years

Amount paid-out for development projects in the Candarave province

143,000,000

445,000,000

Number of power plants

2

2

Percentage of supply to third-party energy users

12.00%

Commitment for capital projects

$464,000,000

Net total capacity (in megawatts)

516.2

SEGMENT_AND_RELATED_INFORMATIO2

SEGMENT AND RELATED INFORMATION: (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	segment
SEGMENT AND RELATED INFORMATION:
Number of reportable segments	3
Financial information relating to segments
Net sales	$1,274,800,000	$1,354,400,000
Cost of sales (exclusive of depreciation, amortization and depletion)	679,822,000	641,894,000
Selling, general and administrative	24,869,000	24,498,000
Depreciation, amortization and depletion	116,963,000	110,453,000
Exploration	10,288,000	14,611,000
Environmental reclamation	5,928,000
Operating income	436,937,000	562,927,000
Interest, net	-23,100,000	-36,000,000
Other income (expense)	-3,764,000	-4,206,000
Income taxes	-129,193,000	-204,162,000
Equity earnings of affiliate	2,760,000	6,038,000
Non-controlling interest	-1,257,000	-1,208,000
Net income attributable to SCC	282,430,000	323,389,000
Capital investment	245,800,000	336,900,000
Property, net	7,545,631,000	6,685,500,000	7,436,430,000
Total assets	11,247,902,000	11,264,700,000	11,551,910,000
Corporate, other and eliminations
Financial information relating to segments
Net sales	-18,900,000	-24,400,000
Cost of sales (exclusive of depreciation, amortization and depletion)	-12,300,000	4,900,000
Selling, general and administrative	1,200,000	900,000
Depreciation, amortization and depletion	2,200,000	800,000
Exploration	4,500,000	6,800,000
Operating income	-14,500,000	-37,800,000
Capital investment	1,300,000	2,400,000
Property, net	94,300,000	85,800,000
Total assets	-859,600,000	658,300,000
Mexican Open-Pit | Operating segment
Financial information relating to segments
Net sales	664,200,000	648,200,000
Cost of sales (exclusive of depreciation, amortization and depletion)	299,200,000	229,500,000
Selling, general and administrative	9,400,000	8,700,000
Depreciation, amortization and depletion	54,100,000	54,700,000
Exploration	800,000	900,000
Environmental reclamation	5,900,000
Operating income	294,800,000	354,400,000
Capital investment	184,700,000	267,700,000
Property, net	4,502,600,000	3,764,700,000
Total assets	7,569,800,000	6,314,900,000
Mexican IMMSA Unit | Operating segment
Financial information relating to segments
Net sales	90,300,000	95,900,000
Cost of sales (exclusive of depreciation, amortization and depletion)	89,900,000	84,400,000
Selling, general and administrative	4,000,000	3,700,000
Depreciation, amortization and depletion	7,700,000	7,800,000
Exploration	2,300,000	5,000,000
Operating income	5,300,000	19,400,000
Capital investment	6,600,000	9,000,000
Property, net	388,300,000	380,800,000
Total assets	890,600,000	863,000,000
Mexican IMMSA Unit | Intersegment sales
Financial information relating to segments
Net sales	18,900,000	24,400,000
Peruvian Operations | Operating segment
Financial information relating to segments
Net sales	520,300,000	610,300,000
Cost of sales (exclusive of depreciation, amortization and depletion)	303,000,000	323,100,000
Selling, general and administrative	10,300,000	11,200,000
Depreciation, amortization and depletion	53,000,000	47,200,000
Exploration	2,700,000	1,900,000
Operating income	151,300,000	226,900,000
Capital investment	53,200,000	57,800,000
Property, net	2,560,400,000	2,454,200,000
Total assets	$3,647,100,000	$3,428,500,000

STOCKHOLDERS_EQUITY_Details

STOCKHOLDERS' EQUITY: (Details) (USD $)	1 Months Ended			3 Months Ended	12 Months Ended			87 Months Ended	3 Months Ended
	Feb. 28, 2015	Jan. 31, 2015	Mar. 21, 2014	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2008	Mar. 31, 2015	Mar. 31, 2014
Activity in treasury stock
Balance at the beginning of the period		$1,900,686,000		$1,900,686,000
Purchase of shares	76,300,000	160,700,000	133,100,000	370,100,000	682,800,000	281,400,000	878,100,000	2,212,400,000
Balance at the end of the period				2,267,944,000	1,900,686,000			2,267,944,000	1,275,400,000
TREASURY STOCK: | Southern copper common shares
Activity in treasury stock
Balance at the beginning of the period		1,693,500,000		1,693,500,000	1,011,000,000				1,011,000,000
Purchase of shares				370,100,000					52,500,000
Balance at the end of the period				2,063,600,000				2,063,600,000	1,063,500,000
Treasury stock balance at the end of the period (in shares)				85,058,843				85,058,843	51,152,615
TREASURY STOCK: | Parent Company (Grupo Mexico) common shares
Activity in treasury stock
Balance at the beginning of the period		207,200,000		207,200,000	205,600,000				205,600,000
Other activity, including dividend, interest and currency translation effect				-2,900,000					6,300,000
Balance at the end of the period				$204,300,000				$204,300,000	$211,900,000
Treasury stock balance at the end of the period (in shares)				94,325,311				94,325,311	72,814,824

STOCKHOLDERS_EQUITY_Details_2

STOCKHOLDERS' EQUITY: (Details 2) (USD $)	1 Months Ended			3 Months Ended	12 Months Ended			87 Months Ended
In Millions, except Share data, unless otherwise specified	Feb. 28, 2015	Jan. 31, 2015	Mar. 21, 2014	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2008	Mar. 31, 2015
SCC share repurchase program:
Amount authorized for share repurchase program				$3,000			$500	$3,000
Total Number of Shares Purchased	2,590,076	5,927,154	4,563,649	13,080,879	22,711,428	10,245,000	46,914,486	92,951,793
Average Price Paid per Share (in dollars per share)	$29.45	$27.12	$29.16	$29.29	$30.06	$27.47	$18.72	$23.80
Total Number of Shares Purchased as Part of Publicly Announced Plan	88,388,144	85,798,068		92,951,793	79,870,914	57,159,486	46,914,486	92,951,793
Maximum Number of Shares that May Yet Be Purchased Under the Plan @ $29.18				26,992,079				26,992,079
Total Cost	$76.30	$160.70	$133.10	$370.10	$682.80	$281.40	$878.10	$2,212.40
Percentage of ownership interest held by the parent company				86.00%				86.00%

STOCKHOLDERS_EQUITY_Details_3

STOCKHOLDERS' EQUITY: (Details 3)	3 Months Ended
	Mar. 31, 2015
Employee Stock Purchase 2007 Plan
Share based compensation
Percentage of title acquired by employee in every two years on shares paid in previous two years	50.00%
Period of plan	8 years
Ratio of bonus shares granted to participant	0.1
Employee Stock Purchase 2015 Plan
Share based compensation
Percentage of title acquired by employee in every two years on shares paid in previous two years	50.00%
Period of plan	8 years
Ratio of bonus shares granted to participant	0.1
Employee Stock Purchase 2015 Plan | Voluntary Resignation
Share based compensation
Deduction over the amount to be paid to the employee on termination of employment after first year (as a percent)	90.00%
Deduction over the amount to be paid to the employee on termination of employment after second year (as a percent)	80.00%
Deduction over the amount to be paid to the employee on termination of employment after third year (as a percent)	70.00%
Deduction over the amount to be paid to the employee on termination of employment after fourth year (as a percent)	60.00%
Deduction over the amount to be paid to the employee on termination of employment after fifth year (as a percent)	50.00%
Deduction over the amount to be paid to the employee on termination of employment after sixth year (as a percent)	40.00%
Deduction over the amount to be paid to the employee on termination of employment after seventh year (as a percent)	20.00%
Employee Stock Purchase 2015 Plan | Involuntary Termination
Share based compensation
Deduction over the amount to be paid to the employee on termination of employment after first year (as a percent)	100.00%
Deduction over the amount to be paid to the employee on termination of employment after second year (as a percent)	95.00%
Deduction over the amount to be paid to the employee on termination of employment after third year (as a percent)	90.00%
Deduction over the amount to be paid to the employee on termination of employment after fourth year (as a percent)	80.00%
Deduction over the amount to be paid to the employee on termination of employment after fifth year (as a percent)	70.00%
Deduction over the amount to be paid to the employee on termination of employment after sixth year (as a percent)	60.00%
Deduction over the amount to be paid to the employee on termination of employment after seventh year (as a percent)	50.00%

STOCKHOLDERS_EQUITY_Details_4

STOCKHOLDERS' EQUITY: (Details 4)	3 Months Ended				12 Months Ended		3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2010	Dec. 31, 2010	Mar. 31, 2015	Mar. 31, 2015
	Employee Stock Purchase 2007 Plan	Employee Stock Purchase 2007 Plan	Employee Stock Purchase 2010 Plan	Employee Stock Purchase 2010 Plan	Employee Stock Purchase 2010 Plan	Employee Stock Purchase 2010 Plan	Employee Stock Purchase 2015 Plan	Employee Stock Purchase 2015 Plan
	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	MXN	USD ($)	MXN
Information related to compensation cost
Stock based compensation expense		$0.50	$0.10	$0.10
Unrecognized compensation expense		$1.60	$2	$2.50
Period over which unrecognized compensation expense expected to be recognized				3 years 9 months
Stock award activity, Shares
Outstanding shares at the beginning of the period	4,298,612	4,449,599	2,287,891	3,012,464
Exercised (in shares)		-40,632		-249,446
Forfeited (in shares)	-3,660,945
Outstanding shares at the end of the period	637,667	4,408,967	2,287,891	2,763,018
Unit Weighted Average Grant Date Fair Value
Outstanding shares at the beginning of the period (in dollars per share)	$1.16	$1.16	$2.05	$2.05
Exercised (in dollars per share)		$1.16		$2.05
Forfeited (in dollars per share)	$1.16
Outstanding shares at the end of the period (in dollars per share)	$1.16	$1.16	$2.05	$2.05
Purchase price for initial subscription (in dollars per share)					$2.05	26.51	$2.63	38.44

NONCONTROLLING_INTEREST_Detail

NON-CONTROLLING INTEREST (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Non-controlling interest activity
Balance at the beginning of the period	$32,139,000	$28,200,000
Net earnings	1,257,000	1,208,000
Dividend paid	-195,000	-302,000
Other		-100,000
Balance at the end of the period	$33,201,000	$29,000,000

FINANCIAL_INSTRUMENTS_Details

FINANCIAL INSTRUMENTS: (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
In Millions, unless otherwise specified
Liabilities:
Long-term debt, Carrying Value	$4,206.30		$4,206
Long-term debt, Fair Value	4,411.40		4,369.60
Short term Investment:
Trading securities investment	79.1	333.7
6.375% Senior unsecured notes due 2015
Derivative:
Interest rate (as a percent)	6.38%
Fair value measurements recurring | Fair value as of the end of the period
Short term Investment:
Trading securities investment	79.1	333.7
Derivative:
Total assets, fair value	336.3	646.3
Fair value measurements recurring | Fair value as of the end of the period | Copper
Derivative:
Provisionally priced sales	167.4	202.2
Fair value measurements recurring | Fair value as of the end of the period | Molybdenum
Derivative:
Provisionally priced sales	85.1	105.5
Fair value measurements recurring | Fair value as of the end of the period | Corporate bonds
Available-for-sale debt securities:
Available-for-sale debt securities	0.3	0.3
Fair value measurements recurring | Fair value as of the end of the period | Mortgage backed securities
Available-for-sale debt securities:
Available-for-sale debt securities	4.4	4.6
Fair value measurements recurring | Quoted prices in active markets for identical assets (Level 1)
Short term Investment:
Trading securities investment	79.1	333.7
Derivative:
Total assets, fair value	331.6	641.4
Fair value measurements recurring | Quoted prices in active markets for identical assets (Level 1) | Copper
Derivative:
Provisionally priced sales	167.4	202.2
Fair value measurements recurring | Quoted prices in active markets for identical assets (Level 1) | Molybdenum
Derivative:
Provisionally priced sales	85.1	105.5
Fair value measurements recurring | Significant other observable inputs (Level 2)
Derivative:
Total assets, fair value	4.7	4.9
Fair value measurements recurring | Significant other observable inputs (Level 2) | Corporate bonds
Available-for-sale debt securities:
Available-for-sale debt securities	0.3	0.3
Fair value measurements recurring | Significant other observable inputs (Level 2) | Mortgage backed securities
Available-for-sale debt securities:
Available-for-sale debt securities	$4.40	$4.60

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (Subsequent Event, USD $)	1 Months Ended	0 Months Ended
In Millions, except Per Share data, unless otherwise specified	Apr. 30, 2015	Apr. 20, 2015
		item
SUBSEQUENT EVENTS:
Quarterly cash dividend authorized	$0.10
Senior unsecured notes
SUBSEQUENT EVENTS:
Number of tranches		2
Debt Instrument, Face Amount		$2,000
Senior unsecured notes | Unsecured Senior Notes Due 2025
SUBSEQUENT EVENTS:
Debt Instrument, Face Amount		500
Interest rate (as a percent)		3.88%
Senior unsecured notes | Unsecured Senior Notes Due 2045
SUBSEQUENT EVENTS:
Debt Instrument, Face Amount		$1,500
Interest rate (as a percent)		5.88%