Southern Copper (SCCO) 10-K 28 Feb 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Feb. 28, 2023	Jun. 30, 2022
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	1-14066
Entity Registrant Name	SOUTHERN COPPER CORP/
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3849074
Entity Address, Address Line One	7310 North 16th St, Suite 135
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85020
City Area Code	602
Local Phone Number	264-1375
Title of 12(b) Security	Common stock
Trading Symbol	SCCO
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Entity Common Stock, Shares Outstanding		773,101,669
Entity Public Float			$ 4,274.5
Auditor Name	Galaz, Yamazaki, Ruiz Urquiza, S.C.
Auditor Firm ID	1153
Auditor Location	Mexico City, Mexico
Entity Central Index Key	0001001838
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF EARNINGS
Net sales (including sales to related parties, see note 18)	$ 10,047.9	$ 10,934.1	$ 7,984.9
Operating cost and expenses:
Cost of sales (exclusive of depreciation, amortization and depletion shown separately below)	4,649.1	3,894.4	3,929.8
Selling, general and administrative	125	125.2	126.2
Depreciation, amortization and depletion	796.3	806	775.6
Exploration	41.7	43.4	32.6
Total operating costs and expenses	5,612.1	4,869	4,864.2
Operating income	4,435.8	6,065.1	3,120.7
Interest expense	(387.1)	(387.9)	(393.4)
Capitalized interest	47	30.8	26.8
Other income (expense)	117.1	(18.4)	(27.5)
Interest income	35	7.2	19.2
Income before income taxes	4,247.8	5,696.8	2,745.8
Income taxes (including royalty taxes, see Note 7)	1,477.5	2,425.5	1,237.9
Deferred income taxes	118.6	(126.3)	(63.5)
Net income before equity earnings of affiliate	2,651.7	3,397.6	1,571.4
Equity earnings of affiliate, net of income tax	(3.7)	13.6	6.4
Net income	2,648	3,411.2	1,577.8
Less: Net income attributable to the non-controlling interest	9.5	14.1	7.4
Net income attributable to SCC	$ 2,638.5	$ 3,397.1	$ 1,570.4
Per common share amounts attributable to SCC:
Net earnings-basic	$ 3.41	$ 4.39	$ 2.03
Net earnings-diluted	$ 3.41	$ 4.39	$ 2.03
Weighted average shares outstanding-basic	773.1	773.1	773.1
Weighted average shares outstanding-diluted	773.1	773.1	773.1

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income and comprehensive income	$ 2,648	$ 3,411.2	$ 1,577.8
Other comprehensive income (loss) net of tax:
-Decrease (increase) in pension and other post-retirement benefits (net of income tax of $(0.2), $1.2 and $(1.9), respectively)	1	(1.7)	1.7
- Unrealized gain on derivative instruments classified as cash flow hedge (net of income tax of $0.2 million in 2022 and $0.3 million in 2021)	(0.6)	0.6
Total other comprehensive income (loss)	0.4	(1.1)	1.7
Total comprehensive income	2,648.4	3,410.1	1,579.5
Comprehensive income attributable to the non-controlling interest	9.5	14.1	7.4
Comprehensive income attributable to SCC	$ 2,638.9	$ 3,396	$ 1,572.1

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Decrease (increase) in pension and other post-retirement benefits, income tax	$ (0.2)	$ 1.2	$ (1.9)
Unrealized gain of the period tax	$ 0.2	$ 0.3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 2,069.7	$ 3,002
Short-term investments	208.3	486.9
Accounts receivable trade	1,394.1	1,358.7
Accounts receivable other (including related parties 2022- $33.3 and 2021 - $49.1	79.7	87.9
Inventories	1,013.9	972.9
Prepaid taxes	377.6	197.7
Other current assets	44.4	33.5
Total current assets	5,187.7	6,139.6
Property and mine development, net	9,596.6	9,464.4
Ore stockpiles on leach pads	1,064.3	1,097.6
Intangible assets, net	134.7	138.1
Right-of-use assets	851.4	916.3
Deferred income tax	237.3	316.2
Equity method investment	110.8	115.4
Other non-current assets	94.6	110
Total assets	17,277.4	18,297.6
Current liabilities:
Current portion of long-term debt		299.7
Accounts payable (including related parties 2022 - $120.2 and 2021 - $103.3	657.6	591.9
Accrued income taxes	138.1	832.6
Accrued workers' participation	236.3	325.7
Accrued interest	97.1	98.6
Lease liabilities current	77.3	73.9
Other accrued liabilities	29.3	27.6
Total current liabilities	1,235.7	2,250
Long-term debt, net of current portion	6,251.2	6,247.9
Lease liabilities	774.1	842.4
Deferred income taxes	161.2	118.3
Non-current taxes payable	40.6
Other liabilities and reserves	82.4	68.3
Asset retirement obligation	585.3	562.9
Total non-current liabilities	7,894.8	7,839.8
Commitments and contingencies (Note 13)
STOCKHOLDERS' EQUITY (NOTE 14)
Common stock par value $0.01; shares authorized, 2022 and 2021-2,000; shares issued, 2022 and 2021-884.6	8.8	8.8
Additional paid-in capital	3,489.7	3,454.1
Retained earnings	7,702.3	7,769.7
Accumulated other comprehensive income	(9)	(9.4)
Treasury stock, at cost, common shares	(3,107.6)	(3,074)
Total Southern Copper Corporation stockholders' equity	8,084.2	8,149.2
Non-controlling interest	62.7	58.6
Total equity	8,146.9	8,207.8
Total liabilities and equity	$ 17,277.4	$ 18,297.6

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS
Accounts receivable other, related parties	$ 33.3	$ 49.1
Accounts payable, related parties	$ 120.2	$ 103.3
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	2,000	2,000
Common stock, shares issued	884.6	884.6

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OPERATING ACTIVITIES
Net income	$ 2,648	$ 3,411.2	$ 1,577.8
Adjustments to reconcile net earnings to net cash provided from operating activities:
Depreciation, amortization and depletion	796.3	806	775.6
Equity earnings of affiliate, net of dividends received	4.6	(1.1)	(10.4)
Loss (gain) on foreign currency transaction effect	41.9	(25.8)	0.9
Provision (benefit) for deferred income taxes	118.6	(126.3)	(63.5)
Net charges for asset retirement obligations, including accretion	16.4	17.9	13.5
Other, net	16.9	19.8	6
Change in operating assets and liabilities:
(Increase) in accounts receivable	(35.4)	(289.8)	(236)
(Increase)/decrease in inventories	(7.7)	4.7	223.6
(Decrease)/increase in accounts payable and accrued liabilities	(718)	558.2	313.8
(Increase)/decrease in other operating assets and liabilities	(79.1)	(82.4)	182.3
Net cash provided by operating activities	2,802.5	4,292.4	2,783.6
INVESTING ACTIVITIES
Capital expenditures	(948.5)	(892.3)	(592.2)
Purchase of short-term investments	(486.2)	(1,653.1)	(450.3)
Proceeds on sale of short-term investment	764.7	1,577	120.2
Other, net	3.2	(4.5)	6.5
Net cash used in investing activities	(666.8)	(972.9)	(915.8)
FINANCING ACTIVITIES
Repayments of debt	(300)		(400)
Cash dividends paid to common stockholders	(2,705.8)	(2,473.8)	(1,159.6)
Distributions to non-controlling interest	(5.5)	(6.7)	(4.1)
Other, net	0.3	0.3	0.4
Net cash used in financing activities	(3,011)	(2,480.2)	(1,563.3)
Effect of exchange rate changes on cash and cash equivalents	(57)	(20.9)	(46)
Increase (decrease) in cash and cash equivalents	(932.3)	818.4	258.5
Cash and cash equivalents, at beginning of year	3,002	2,183.6	1,925.1
Cash and cash equivalents, at end of year	2,069.7	3,002	2,183.6
Cash paid during the year for:
Interest	380.2	380.2	383.5
Income taxes	2,391.5	1,947.1	1,037.1
Workers' participation	450.6	258.4	153.9
Supplemental schedule of non-cash operating, investing and financing activities:
Decrease (increase) in pension and other post-retirement benefits	1	(1.7)	1.7
Capital expenditures incurred but not yet paid	$ 18.5	$ 24.6	$ 32.2

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	CAPITAL STOCK	ADDITIONAL PAID-IN CAPITAL:	TREASURY STOCK: Parent Company (Grupo Mexico) common shares	TREASURY STOCK: Parent Company (Grupo Mexico)	TREASURY STOCK:	RETAINED EARNINGS:	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS):	STOCKHOLDERS' EQUITY	NON-CONTROLLING INTEREST	Total
Balance at beginning of year at Dec. 31, 2019		$ 3,424.9	$ (2,767.9)	$ (281)		$ 6,435.6	$ (10.1)	$ 6,810.3	$ 47.9	$ 6,858.2
Increase (Decrease) in Stockholders' Equity
Net earnings						1,570.4			7.4	1,570.4
Dividends declared and paid						(1,159.6)			(4.1)
Used for corporate purposes			0.4
Other activity, including dividend, interest and foreign currency transaction effect				(15)
Other activity of the period		16.6
Other comprehensive income (loss)							1.7			1.7
Balance at end of year at Dec. 31, 2020	$ 8.8	3,441.5	(2,767.5)	(296)	$ (3,063.5)	6,846.4	(8.4)	7,224.8	51.2	7,276
Increase (Decrease) in Stockholders' Equity
Net earnings						3,397.1			14.1	3,397.1
Dividends declared and paid						(2,473.8)			(6.7)
Used for corporate purposes			0.3
Other activity, including dividend, interest and foreign currency transaction effect				(10.8)
Other activity of the period		12.6
Other comprehensive income (loss)							(1)			(1.1)
Balance at end of year at Dec. 31, 2021	8.8	3,454.1	(2,767.2)	(306.8)	(3,074)	7,769.7	(9.4)	8,149.2	58.6	8,207.8
Increase (Decrease) in Stockholders' Equity
Net earnings						2,638.5			9.5	2,638.5
Dividends declared and paid						(2,705.8)			(5.5)
Used for corporate purposes			0.3
Other activity, including dividend, interest and foreign currency transaction effect				(33.9)
Other activity of the period		35.6
Other comprehensive income (loss)							0.4			0.4
Balance at end of year at Dec. 31, 2022	$ 8.8	$ 3,489.7	$ (2,766.9)	$ (340.7)	$ (3,107.6)	$ 7,702.3	$ (9)	$ 8,084.2	$ 62.7	$ 8,146.9

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Dividends paid as cash dividend (in dollars per share)	$ 3.50	$ 3.20	$ 1.50

DESCRIPTION OF THE BUSINESS_

DESCRIPTION OF THE BUSINESS:	12 Months Ended
	Dec. 31, 2022
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 December 31, 2022, Grupo Mexico through its wholly-owned subsidiary Americas Mining Corporation (“AMC”) owned 88.9% of the Company’s capital stock. The consolidated financial statements presented herein consist of the accounts of Southern Copper Corporation ("SCC", "Southern Copper" 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. ​ ​

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:	12 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:	NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: ​ Principles of consolidation— ​ The consolidated financial statements include the accounts of subsidiaries of which the Company has voting control, in accordance with Accounting Standards Codification (“ASC”) 810 Consolidation ​ Use of estimates— ​ The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include the carrying value of mineral reserves that are the basis for future cash flow estimates and amortization calculations; environmental reclamation, closure and retirement obligations; estimates of recoverable copper in mill and leach stockpiles; asset impairments (including estimates of future cash flows); unrecognized tax benefits; valuation allowances for deferred tax assets; and fair value of financial instruments. Management bases its estimates on the Company's historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. ​ Revenue recognition— ​ The Company accounts for a contract with a customer when there is a legally enforceable contract between the Company and the customer, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. The Company's revenues are measured based on consideration specified in the contract with each customer. Disclosures regarding disaggregation of revenues and contract balances are disclosed within Note 19 "Segment and related information". ​ The Company’s marketing strategy and annual sales planning emphasize developing and maintaining long-term customer relationships. Generally, 80% to 90% of the Company’s metal production is sold under annual or longer-term contracts, which specify a volume of mineral to be sold over a stated period and delivery schedule; the price at which mineral will be sold at each delivery date is generally determined by the weekly or monthly average rate of the commodity published by major metal exchanges at specific dates stipulated within each contract. The Company considers each contract to be a single performance obligation, represented by the delivery of a series of distinct goods that are substantially the same, with the same pattern of transfer to the Company’s customers. The Company concluded this as, based on the nature of its contracts, customers receive the benefit of mineral sold as it is shipped per the terms of the contracts at each contractual delivery date. Likewise, each shipment of product represents the same measure of progress as other shipments within the contract. Accordingly, the Company recognizes revenues for each contract over the period of time in which the specified quantity of mineral is delivered. In doing so, the Company considers that it has a right to consideration from its customers in an amount that corresponds directly to the value transferred to those customers that being the quantity of mineral delivered at the price per unit delivered. Accordingly, the Company recognizes revenue at the amount to which it has the right to invoice (the invoice practical expedient), as it believes that this method is a faithful depiction of the transfer of goods to its customers. ​ For contracts with a term greater than one year, the Company is unable to disclose an allocation of the transaction price to the remaining unsatisfied performance obligation, given that unit prices of mineral sold are determined by published commodity prices at specified dates within the contract. The volume of mineral to be delivered after the first year of the contract is subject to annual volume negotiations in accordance with the terms of the contract. As of December 31, 2022, the Company has long-term contracts with promises to deliver in 2023 for a total of 147,500 metric tonnes of copper concentrate, 48,000 metric tonnes of copper cathodes, 31,587 tonnes of molybdenum concentrate and 382,500 tonnes of sulfuric acid. This is an estimate that will vary in 2023 and 2024 based on the negotiations with the customers as mentioned above. ​ The remainder of the Company’s revenues, including its by-product revenues, are generated by spot sales that are recognized at a point in time. ​ Under both sales models, revenue is recognized when or as the performance obligations are satisfied, when the Company transfers control of the goods and title passes to the customer. Considering the International Commercial Terms (Incoterms) utilized by the Company, control is transferred generally upon the completion of loading the material at the point of origin. This is the point at which the customer obtains legal title to the product as well as the ability to direct the use of and obtain substantially all of the remaining benefits of ownership of the asset. Additionally, payment is generally due upon the delivery of the shipping and title documents at the point of origin, customers typically have 30 days to remit payment. Copper and non-copper revenues are measured based on the monthly average of prevailing commodity prices according to the terms of the contracts. The Company provides allowances for doubtful accounts based upon historical bad debt and claims experience and periodic evaluation of specific customer accounts. ​ Substantially all of the Company’s sales are made under carriage and insurance paid to, or cost, insurance and freight Incoterms, whereby the Company is responsible for providing shipping and insurance after control of the inventory has been transferred to the customer. According to the terms of the Company’s contracts, these services are not distinct within the context of the contract, and they are not separately identifiable from the other promises within the contract. Additionally, it is the Company policy and it has a long-standing history of providing shipping and insurance services to its customers. Accordingly, shipping and insurance are not considered separate performance obligations. The related costs of shipping and insurance are presented within the cost of sales line in the accompanying consolidated statements of income. ​ Furthermore, the Company considered the impact of the shipping and insurance services on the determination of when control is transferred to its customers. It has concluded that the terms of these services do not impact its customers’ ability to sell, pledge, or otherwise use the products in shipment. Also, there is a small likelihood and minimal history of lost or damaged goods during shipment. Considering these factors, combined with the other indicators of control previously mentioned, the Company has concluded that these services do not impact the determination that control is transferred at the point of origin. ​ For certain of the Company’s sales of copper and molybdenum products, customer contracts allow for pricing based on a month subsequent to shipping, in most cases within the following three months and occasionally in some cases a few additional months. In such cases, revenue is recorded at a provisional price at the time of shipment. The provisionally priced copper sales are adjusted to reflect forward LME or COMEX copper prices at the end of each month until a final adjustment is made to the price of the shipments upon settlement with customers pursuant to the terms of the contract. In the case of molybdenum sales, for which there are no published forward prices, the provisionally priced sales are adjusted to reflect the market prices at the end of each month until a final adjustment is made to the price of the shipments upon settlement with customers pursuant to the terms of the contract. ​ These provisional pricing arrangements are accounted for separately from the contract as an embedded derivative instrument under ASC 815-30 “Derivatives and Hedging—Cash Flow Hedges.” The Company sells copper in concentrate, anode, blister and refined form at industry standard commercial terms. Net sales include the invoiced value of copper, zinc, silver, molybdenum, sulfuric acid and other metals and the corresponding fair value adjustment of the related forward contract of copper and molybdenum. Disclosure regarding adjustments to sales for provisionally priced contracts is disclosed within Note 19 “Segment and related information”. ​ Cash and cash equivalents— ​ Cash and cash equivalents include bank deposits, certificates of deposit and short-term investment funds with original maturities of three months or less at the date of purchase. The carrying value of cash and cash equivalents approximates fair value. ​ Short-term investments— ​ The Company accounts for short-term investments in accordance with ASC 320-10 “Investments Debt and Equity Securities-Recognition.” The Company determines the appropriate classification of all short-term investments as held-to-maturity, available-for-sale or trading at the time of purchase and re-evaluates such classifications as of each balance sheet date. Unrealized gains and losses on available-for-sale investments, net of taxes, are reported as a component of accumulated other comprehensive income (loss) in stockholders’ equity, unless such loss is deemed to be other than temporary. ​ Inventories— ​ The Company principally produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. ​ Metal inventories, consisting of work-in-process and finished goods, are carried at the lower of average cost or net realizable value (NRV). Costs of work-in-process inventories and finished goods mainly include power, labor, fuel, operating and repair materials, depreciation, amortization, depletion, and other necessary costs related to the extraction and processing of ore, including mining, milling, concentrating, smelting, refining, leaching and chemical processing. Costs incurred in the production of metal inventories exclude general and administrative costs. Once molybdenum, silver, zinc and other by-products are identified, they are transferred to their respective production facilities and the incremental cost required to complete production is assigned to their inventory value. ​ Work-in-process inventories represent materials that are in the process of being converted into a saleable product. Conversion processes vary depending on the nature of the copper ore and the specific mining operation. For sulfide ores, processing includes milling and concentrating and results in the production of copper and molybdenum concentrates. ​ Finished goods include saleable products (e.g., copper concentrates, copper anodes, copper cathodes, copper rod, molybdenum concentrate and other metallurgical products). ​ Supplies inventories are carried at the lower of average cost or net realizable value (NRV). ​ Long-term inventory-Ore stockpiles on leach pads. ​ The leaching process is an integral part of the mining operations carried out at the Company’s open-pit mines. The Company capitalizes the production cost of leachable material at its Toquepala, La Caridad and Buenavista mines, recognizing it as inventory. This cost includes mining and haulage costs incurred to deliver ore to leach pads, depreciation, amortization, depletion and site overhead costs. The estimates of recoverable mineral content contained in the leaching dumps are supported by engineering studies. As the production cycle of the leaching process is significantly longer than the conventional process of concentrating, smelting and electrolytic refining, the Company includes current leach inventory (included in work-in-process inventories) and long-term leach inventory on its balance sheet. ​ The capitalization of long-term inventory-Ore stockpiles in leach pads is based on the allocation of copper content recoverable between ore and leach material. In addition, inventory consumption is valued at the average unit cost. ​ Property— ​ Property is recorded at acquisition cost, net of accumulated depreciation and amortization. Cost includes major expenditures for improvements and replacements, which extend useful lives or increase capacity and interest costs associated with significant capital additions. Maintenance, repairs, normal development costs at existing mines and gains or losses on assets retired or sold are reflected in earnings as incurred. ​ Buildings and equipment are depreciated on the straight-line method over estimated lives from two ​ Mine development — ​ Mine development includes primarily the cost of acquiring land rights to an exploitable ore body, pre-production stripping costs at new mines that are commercially exploitable, costs associated with bringing new mineral properties into production, and removal of overburden to prepare unique and identifiable areas outside the current mining area for such future production. Mine development costs are amortized on a unit of production basis over the remaining life of the mines. ​ Diverse practices exist in the mining industry relative to the treatment of drilling and other related costs to delineate new mineral reserves. The Company follows the practices outlined in the next two paragraphs in its treatment of drilling and related costs. ​ Drilling and other associated costs incurred in the Company's efforts to delineate new resources, whether near-mine or Greenfield are expensed as incurred. These costs are classified as mineral exploration costs. Once the Company determines through feasibility studies that proven and probable reserves exist and that the drilling and other associated costs embody a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflow, then the costs are classified as mine development costs. These mine development costs incurred prospectively to develop the property are capitalized as incurred, until the commencement of production, and are amortized using the units of production method over estimated life of the ore body. During the production stage, drilling and other related costs incurred to maintain production are included in production cost in the period in which they are incurred. ​ Drilling and other related costs incurred in the Company’s efforts to delineate a major expansion of reserves at an existing production property are expensed as incurred. Once the Company determines through feasibility studies that proven and probable incremental reserves exist and that the drilling and other associated costs embody a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflow, then the costs are classified as mine development costs. These incremental mine development costs are capitalized as incurred, until the commencement of production and amortized using the units of production method over the estimated life of the ore body. A major expansion of reserves is one that increases total reserves at a property by approximately 10% or more. ​ For the years ended December 31, 2022, 2021 and 2020, the Company did not capitalize any drilling and related costs. ​ Asset retirement obligations (reclamation and remediation costs)— ​ The fair value of a liability for asset retirement obligations is recognized in the period in which the liability is incurred. The liability is measured at fair value and is adjusted to its present value in subsequent periods as accretion expense is recorded. The corresponding asset retirement costs are capitalized as part of the carrying value of the related long-lived assets and depreciated over the asset's useful life. ​ Intangible assets— ​ Intangible assets include primarily the excess amount paid over the book value for investment shares, which are presented as mining concessions, and mining and engineering development studies. Intangible assets are carried at acquisition costs, net of accumulated amortization and are amortized principally on a unit of production basis over the estimated remaining life of the mines. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. ​ Debt issuance costs— ​ Debt issuance costs related to a recognized debt liability are presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with the treatment of a debt discount. ​ Mineral reserves— ​ The Company periodically reevaluates estimates of its mineral reserves, which represent the Company’s estimate as to the amount of unmined copper remaining in its existing mine locations that can be produced and sold at a profit. Such estimates are based on engineering evaluations derived from samples of drill holes and other openings, combined with assumptions about copper market prices and production costs at each of the respective mines. ​ The Company updates its estimate of mineral reserves at the beginning of each year. In 2021, the Company adopted SEC’s mining property disclosure requirements (Regulation S-K, Subpart 1300). Consequently, in 2021 and 2022, the Company based its mineral reserve estimates on a long-term price assumption of $3.30 per pound of copper. Mineral reserves at the end of 2020 were estimated under previous standards at current prices per pound of copper of $2.816. The ore reserve estimates are used to determine the amortization of mine development and intangible assets. ​ Once the Company determines through feasibility studies that proven and probable reserves exist and that drilling and other associated costs embody a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflow, then the costs are classified as mine development costs and the Company discloses the related mineral reserves. ​ Exploration— ​ Tangible and intangible costs incurred in the search for mineral properties are charged against earnings when incurred. ​ Income taxes— ​ Provisions for income taxes are based on taxes payable or refundable for the current year and deferred taxes on temporary differences between the amount of taxable income and pretax financial income and between the tax bases of assets and liabilities and their reported amounts in the financial statements. Deferred tax assets and liabilities are included in the financial statements at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized and settled as prescribed in ASC 740 “Income taxes.” As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. Deferred income tax assets are reduced by any benefits that, in the opinion of management, are more likely not to be realized. ​ The Company’s operations involve dealing with uncertainties and judgments in the application of complex tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with tax authorities in various jurisdictions and resolution of disputes arising from federal, state, and international tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due. The Company follows the guidance of ASC 740 “Income taxes” to record these liabilities. (See Note 7 “Income taxes” of the consolidated financial statements for additional information). The Company adjusts these reserves in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company’s current estimate of the tax liabilities. If its estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If payment of these amounts ultimately proves to be less than the recorded amounts, the reversal of the liabilities would result in tax benefits being recognized in the period when the Company determines the liabilities are no longer necessary. The Company classifies income tax-related interest and penalties as income taxes in the financial statements, as well as interest and penalties, if any, related to unrecognized tax benefits. ​ Foreign exchange— ​ The Company’s functional currency is the U.S. dollar. As required by local law, both the Peruvian Branch and Minera Mexico maintain their books of accounts in Peruvian soles and Mexican pesos, respectively. Foreign currency assets and liabilities are remeasured into U.S. dollars at current exchange rates, except for non-monetary items such as inventory, property, intangible assets and other assets which are remeasured at historical exchange rates. Revenues and expenses are generally translated at actual exchange rates in effect during the period, except for those items related to balance sheet amounts that are remeasured at historical exchange rates. Gains and losses from foreign currency remeasurement are included in earnings of the period. ​ Gains and (losses) resulting from foreign currency transactions are included in "Cost of sales (exclusive of depreciation, amortization and depletion)." ​ Asset impairments - ​ The Company evaluates long-term assets when events or changes in economic circumstances indicate that the carrying amount of such assets may not be recoverable. These evaluations are based on business plans that are prepared using a time horizon that is reflective of the Company’s expectations of metal prices over its business cycle. The Company is currently using a long-term average copper price and an average molybdenum price for impairment tests, reflective of what the Company believes is the lower level of the current price environment. The results of its impairment tests using these long-term copper and molybdenum prices show no impairment in the carrying value of their assets. ​ The Company uses an estimate of the future undiscounted net cash flows of the related asset or asset group over the remaining life to measure whether the assets are recoverable and measures any impairment by reference to fair value. ​ Other comprehensive income— ​ Comprehensive income represents changes in equity during a period, except those resulting from investments by owners and distributions to owners. During the fiscal years ended December 31, 2022, 2021 and 2020, the components of "other comprehensive income (loss)" were, the unrecognized gain (loss) on employee benefit obligations and unrealized gain (loss) on derivative instruments classified as cash flow hedge. ​ Business segments- ​ Company management views Southern Copper as having three reportable segments and manages it on the basis of these segments. The segments identified by the Company are: 1) the Peruvian operations, which include the two open-pit copper mines in Peru and the plants and services supporting such mines, 2) the Mexican open-pit copper mines, which include La Caridad and Buenavista mine complexes and their supporting facilities and 3) the Mexican underground mining operations, which include five underground mines that produce zinc, lead, copper, silver and gold, a coal mine and a zinc refinery. Please see Note 19 “Segments and Related Information.” The Chief Operating Decision Maker of the Company focuses on operating income as measure of performance to evaluate different segments, and to make decisions to allocate resources to the reported segments. This is a common measure in the mining industry. ​ Leases - ​ The Company adopted FASB ASC 842, Leases, effective January 1, 2019. The Company determined if a contract is or contained a lease at its inception. The Company evaluated if a contract gave the right to obtain substantially all of the economic benefits from use of an identified asset and the right to direct the use of the asset, in order to determine if a contract contained a lease. All of the Company’s existing lease contracts are operating lease contracts. For these leases, the Company recognized right-of-use assets and the corresponding operating lease liabilities on its consolidated balance sheet. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent an obligation by the Company to make lease payments which arise from the lease. Lease right-of-use assets and liabilities are recognized at the inception date based on the present value of lease payments over the lease term. As the Company’s lease contracts do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the inception date in order to determine the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term, in the cost of sales and operating expenses. The Company elected the transition approach whereby it applied the new leases standard at the adoption date and recognized a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company elected the short-term lease recognition exemption (short-term lease practical expedient) by class of underlying asset (which results in off-balance-sheet accounting for the lease). ​ ​

SHORT-TERM INVESTMENTS_

SHORT-TERM INVESTMENTS:	12 Months Ended
	Dec. 31, 2022
SHORT-TERM INVESTMENTS:
SHORT-TERM INVESTMENTS:	NOTE 3—SHORT-TERM INVESTMENTS: ​ Short-term investments were as follows ($ in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ ​ 2022 2021 Trading securities ​ $ 208.0 ​ $ 486.5 ​ Weighted average interest rate ​ 4.5 % 0.3 % ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale ​ $ 0.3 ​ $ 0.4 ​ Weighted average interest rate ​ 0.8 % 0.7 % Total ​ $ 208.3 ​ $ 486.9 ​ ​ 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, as of December 31, 2022 and 2021, included asset and mortgage backed obligations. As of December 31, 2022 and 2021, gross unrealized gains and losses on available-for-sale securities were not material. ​ The Company earned interest related to these investments, which was recorded as interest income in the 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 consolidated statement of earnings. ​ The following table summarizes the activity of these investments by category (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended ​ ​ December 31, ​ ​ ​ 2022 2021 Trading: ​ ​ ​ ​ ​ ​ ​ Interest earned ​ $ 4.4 ​ $ 1.4 ​ Unrealized gain (loss) at the end of the period ​ $ (*) ​ $ 0.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ Interest earned ​ $ (*) ​ $ (*) ​ Investment redeemed ​ $ 0.1 ​ $ 0.2 ​ (*) Less than $0.1 million ​ At December 31, 2022 and 2021, contractual maturities of the available-for-sale debt securities are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 One year or less ​ $ — ​ $ — Maturing after one year through five years ​ — ​ — Maturing after five years through ten years ​ — ​ — Due after 10 years ​ 0.3 ​ 0.4 Total debt securities ​ $ 0.3 ​ $ 0.4 ​

INVENTORIES_

INVENTORIES:	12 Months Ended
	Dec. 31, 2022
INVENTORIES:
INVENTORIES:	​ NOTE 4—INVENTORIES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, (in millions) ​ 2022 2021 Inventory, current: ​ ​ ​ ​ ​ ​ Metals at average cost: ​ ​ ​ ​ ​ ​ Finished goods ​ $ 78.5 ​ $ 58.6 Work-in-process ​ 330.5 ​ 340.7 Ore stockpiles on leach pads ​ ​ 259.7 ​ ​ 259.7 Supplies at average cost ​ 345.2 ​ 313.9 Total current inventory ​ $ 1,013.9 ​ $ 972.9 Inventory, long-term: ​ ​ ​ ​ ​ ​ Ore stockpiles on leach pads ​ $ 1,064.3 ​ $ 1,097.6 ​ Total leaching costs added as long-term inventory of ore stockpiles in leach pads amounted to $264.3 million, $247.4 million and $194.0 million in 2022, 2021 and 2020, respectively. Long-term leaching inventories recognized as cost of sales amounted to $297.5 million, $313.7 million and $359.1 million in 2022, 2021 and 2020, respectively.

PROPERTY_

PROPERTY:	12 Months Ended
	Dec. 31, 2022
PROPERTY:
PROPERTY:	NOTE 5—PROPERTY: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, (in millions) 2022 2021 Buildings and equipment ​ $ 16,718.3 ​ $ 15,993.8 Construction in progress ​ 1,747.0 ​ 1,668.0 Mine development ​ 273.2 ​ 273.2 Mineral assets ​ ​ 83.2 ​ ​ 83.2 Land, other than mineral ​ 275.4 ​ 258.6 Total property ​ 19,097.1 ​ 18,276.8 Accumulated depreciation, amortization and depletion ​ (9,500.5) ​ (8,812.4) Total property and mine development, net ​ $ 9,596.6 ​ $ 9,464.4 ​ Depreciation and depletion expense for the years ended December 31, 2022, 2021 and 2020, amounted to $790.3 million, $797.3 million and $766.4 million, respectively.

INTANGIBLE ASSETS_

INTANGIBLE ASSETS:	12 Months Ended
	Dec. 31, 2022
INTANGIBLE ASSETS:
INTANGIBLE ASSETS:	​ NOTE 6—INTANGIBLE ASSETS: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, (in millions) 2022 2021 Mining concessions ​ $ 121.2 ​ $ 121.2 Mine engineering and development studies ​ 19.8 ​ 19.8 Software ​ 70.3 ​ 65.4 ​ ​ 211.3 ​ 206.4 Accumulated amortization: ​ ​ ​ ​ ​ Mining concessions ​ ​ (42.2) ​ ​ (40.4) Mine engineering and development studies ​ ​ (19.2) ​ ​ (18.2) Software ​ ​ (57.1) ​ ​ (51.6) ​ ​ ​ (118.5) ​ ​ (110.2) Goodwill ​ 41.9 ​ 41.9 Intangible assets, net ​ $ 134.7 ​ $ 138.1 ​ Amortization of intangibles for the years ended December 31, 2022, 2021 and 2020, amounted to $7.3 million, $8.7 million and $9.2 million, respectively. Estimated amortization is as follows: ​ ​ ​ ​ ​ Estimated amortization expense (in millions): ​ ​ 2023 ​ $ 6.9 2024 ​ ​ 5.8 2025 ​ ​ 5.1 2026 ​ ​ 1.8 2027 ​ ​ 1.8 Total 2023 - 2027 ​ $ 21.4 Average annual ​ $ 4.3 ​ Goodwill includes $17.0 million generated in 1997 as a result of purchasing a third party interest in the Buenavista mine. It also includes $24.9 million representing the amount of the purchase price in excess of the fair value of the net assets acquired from El Pilar mine. This goodwill is attributable to future benefits that the Company expects to realize from the mine and will not be deductible for income tax purposes.

INCOME TAXES_

INCOME TAXES:	12 Months Ended
	Dec. 31, 2022
INCOME TAXES:
INCOME TAXES:	NOTE 7—INCOME TAXES: ​ Since March 2009, Grupo Mexico, through its wholly-owned subsidiary AMC, owns an interest in excess of 80% of SCC. Accordingly, SCC’s results are included in the consolidated tax return for AMC for U.S. federal income tax reporting. ​ In accordance with its policy regarding use of estimates, the Company estimates income taxes currently payable or receivable as well as deferred income tax assets and liabilities attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company provides current and deferred income taxes, as if it were filing a separate U.S. federal income tax return. ​ The components of the provision for income taxes for the three years ended December 31, 2022, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 2020 U.S. federal and state: ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 0.1 ​ $ — ​ $ — Deferred ​ — ​ — ​ — Uncertain tax positions ​ — ​ — ​ — ​ ​ 0.1 ​ — ​ — Foreign (Peru and Mexico): ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ 1,443.1 ​ 2,425.5 ​ 1,237.9 Deferred ​ ​ 118.6 ​ (126.3) ​ (63.5) Uncertain tax positions ​ 34.3 ​ — ​ — ​ ​ 1,596.0 ​ 2,299.2 ​ 1,174.4 Total provision for income taxes ​ $ 1,596.1 ​ $ 2,299.2 ​ $ 1,174.4 ​ The source of income is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 2020 Earnings by location: ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ $ 0.5 ​ $ (32.4) ​ $ (15.3) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ Peru ​ 1,167.8 ​ 1,962.8 ​ 723.9 Mexico ​ 3,079.5 ​ 3,766.4 ​ 2,037.2 ​ ​ 4,247.3 ​ 5,729.2 ​ 2,761.1 Earnings before taxes on income ​ $ 4,247.8 ​ $ 5,696.8 ​ $ 2,745.8 ​ The reconciliation of the statutory income tax rate to the effective tax rate for the three years ended December 31, 2022, is as follows (in percentage points): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Expected tax at U.S. statutory rate 21.0 % 21.0 % 21.0 % Foreign tax at other than statutory rate, net of foreign tax credit benefit (1) 14.7 ​ 13.8 ​ 13.7 ​ Percentage depletion (2.1) ​ (1.8) ​ (2.2) ​ Other permanent differences (0.1) ​ (0.3) ​ 0.1 ​ Additional valuation allowance on U.S. deferred tax assets, foreign tax credits and U.S. tax effect on Peruvian deferred taxes ​ 5.5 ​ 8.4 ​ 8.9 ​ Increase (decrease) in unrecognized tax benefits for uncertain tax positions 1.5 ​ (0.5) ​ (0.1) ​ Amounts (over) / under provided in prior years (1.7) ​ — ​ (0.1) ​ Other (1.2) ​ (0.2) ​ 1.5 ​ Effective income tax rate 37.6 % 40.4 % 42.8 % (1) Foreign tax at other than statutory rates, net of foreign tax credit benefit, also includes the effects of permanent differences in Peru and Mexico, that are determined at the local statutory rate. ​ The Company files income tax returns in three jurisdictions; Peru, Mexico and the United States. For the three years presented above, the statutory income tax rate for Mexico was 30%, the United States tax rate was 21%, and the Peruvian tax rate was 29.5%. While the largest components of income taxes are the Peruvian and Mexican taxes, the Company is a domestic U.S. entity. Therefore, the rate used in the above reconciliation is the U.S. statutory rate. ​ For all of the years presented, both the Peruvian branch and Minera Mexico filed separate tax returns in their respective tax jurisdictions. Although the tax rules and regulations imposed in the separate tax jurisdictions may vary significantly, similar permanent items exist, such as items which are nondeductible or nontaxable. Some permanent differences relate specifically to SCC such as the allowance in the United States for percentage depletion. ​ Deferred taxes include the U.S., Peruvian and Mexican tax effects of the following types of temporary differences and carryforwards: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, (in millions) 2022 2021 Assets: ​ ​ ​ ​ ​ ​ Inventories ​ $ 28.5 ​ $ 78.0 Capitalized exploration expenses ​ 12.4 ​ 12.5 U.S. foreign tax credit carryforward, net of Uncertain Tax Positions ​ 1,653.5 ​ 1,479.2 U.S. tax effect of Peruvian deferred tax liability ​ 112.5 ​ 75.0 U.S. tax effect of Peruvian Uncertain Tax Positions ​ ​ 45.1 ​ ​ — Reserves ​ 249.6 ​ 284.5 Property, plant and equipment ​ ​ — ​ ​ 9.5 Deferred workers participation ​ ​ 15.9 ​ ​ 11.1 Accrued salaries, wages and vacations ​ ​ 7.4 ​ ​ 8.2 Sales price adjustment (PUI) ​ ​ — ​ ​ 2.6 Social responsibility expenses ​ ​ — ​ ​ 5.1 Deferred charges ​ ​ 28.6 ​ ​ 31.6 Valuation allowance on U.S. deferred tax assets, foreign tax credits and U.S. tax effect of Peruvian deferreds ​ ​ (2,053.7) ​ ​ (1,820.0) Accrued royalty and special mining tax ​ ​ 10.8 ​ ​ 23.3 Other ​ 21.9 ​ 5.5 Total deferred tax assets ​ 132.5 ​ 206.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, (in millions) 2022 2021 Liabilities: ​ ​ ​ ​ ​ ​ Property, plant and equipment ​ (19.7) ​ — Social responsibility expenses ​ (7.7) ​ — Sales price adjustment (PUI) ​ ​ (29.0) ​ ​ — Other ​ — ​ (8.2) Total deferred tax liabilities ​ (56.4) ​ (8.2) Total net deferred tax (liabilities) / assets ​ $ 76.1 ​ $ 197.9 ​ The valuation allowance increased by $233.7 million in 2022, which was primarily due to the valuation of unutilized Foreign Tax Credits generated in 2022 and the valuation of the anticipatory foreign tax credits for the U.S. Tax effect of Peruvian deferred tax and uncertain tax position liabilities. The Peru branch operations are taxed in the U.S. as a flow through entity to SCC. Since the Peruvian tax rate of 29.5% now exceeds the U.S. tax rate of 21% it is the expectation of management that it is more likely than not that the benefit of excess credits generated in the current year will not be realizable. ​ U.S. Tax Matters— ​ As of December 31, 2022, the Company considers its ownership of the stock of Minera Mexico to be essentially permanent in duration. Income from subsidiaries, such as Minera Mexico, is included in the Global Intangible Low Tax Income or GILTI on a current year basis. ​ GILTI imposes a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The Company has not had U.S. tax liability from the GILTI inclusion since introduction of this tax in 2018 and does not anticipate a tax in the future because of increased fixed asset amounts and the Mexican tax rate of 30%. No U.S. deferred taxes have been recorded as the Company has elected that if GILTI were to apply in the future, a current period expense would be recorded when incurred. ​ The Base Erosion Anti-Abuse Tax (“BEAT”) is a 10% minimum tax for the years 2019 through 2025 and 12.5% in years thereafter. It is calculated on a base equal to the Company’s income determined without the tax benefit arising from base erosion payments. Since this tax was imposed in 2018 the Company has had no U.S. tax liability for BEAT since it has met the safe harbor rule that provides a Company not to be subject to the BEAT if related party payments from the U.S. to foreign entities does not exceed 3% of expenses excluding cost of goods sold. The Company must continue to analyze applicability of the BEAT provisions on a yearly basis. ​ As of December 31, 2022, $903.6 million of the Company´s total cash, cash equivalents and short-term investments of $2,278.0 million were held by foreign subsidiaries. The cash, cash equivalents and short-term investments maintained in our foreign operations are generally used to cover local operating and investment expenses. The Company has determined that as of December 31, 2022, a deferred tax asset of $0.3 billion exists with respect to its investment in foreign subsidiaries. Tax accounting guidance provided in ASC 740 requires this asset to be recognized only if the basis difference will reverse in the foreseeable future. Management has no plans that would result in the reversal of this temporary difference and consequently no deferred tax asset has been recorded. Future dividends from these subsidiaries may not be subject to federal income tax in the U.S., and the Company incurs no state income tax liability. Additionally, there are no withholding taxes due to the tax treaty between the United States and Mexico. Distributions of earnings from the Company's Peruvian branch to the United States are not subject to U.S. taxes on repatriation. The Company's branch operations are not foreign corporations. They are rather mainly comprised of operations that are branches of the Company's U.S. operations and taxed on a current basis. ​ As of December 31, 2022, there were $1,670.7 million of foreign tax credits available for carryback or carryforward. These credits have a one-year carryback and a ten-year carryforward period and can only be used to reduce U.S. income tax on foreign earnings. There were no other unused U.S. tax credits as of December 31, 2022. These credits will expire if not utilized by the end of the years listed below: ​ ​ ​ ​ ​ Year Amount 2024 ​ ​ 72.2 2025 ​ 146.7 2026 ​ ​ 96.1 2027 ​ ​ — 2028 ​ ​ 175.0 2029 ​ ​ 219.9 2030 ​ ​ 247.6 2031 ​ ​ 582.2 2032 ​ ​ 131.0 Total ​ $ 1,670.7 ​ These foreign tax credits are presented above on a gross basis and have not been adjusted for any unrecognized tax benefits. In accordance with ASC 740, the Company has recorded $17.2 million for the U.S. jurisdiction unrecognized tax benefit as an offset to the Company’s deferred tax asset for foreign tax credits. The remaining foreign tax credits of $1,653.5 million have a full valuation allowance against them at December 31, 2022. It is the expectation of management that with the reduction in the U.S. corporate tax rate to 21% and considering the corporate tax rates in Mexico of 30% and in Peru at 29.5%, it is unlikely the excess foreign tax credits can be utilized. Additionally, foreign dividends may no longer be taxed in the U.S. due to the GILTI rules and thereby reducing the U.S. tax on the foreign source income and limiting the ability to utilize foreign tax credits generated before the 2017 Tax Cuts and Jobs Act. ​ On December 28, 2021, the U.S. Treasury and the IRS released final regulations addressing various aspects of the foreign tax credit regime. The regulations apply to years beginning after December 28, 2021. The Company reviewed and revised the foreign tax credits generated under the new regulations, which is not expected to have a material impact on the Company’s financial statements as excess foreign tax credits generated are fully valued. See below for discussion of Peruvian tax mattes and Peruvian Special Mining Tax. ​ On August 16, 2022, the U.S. enacted the Inflation Reduction Act of 2022 (the “Inflation Reduction Act”), which includes, among other provisions, (i) a new corporate alternative minimum tax of 15% on the adjusted financial statement income (AFSI) of corporations with average AFSI exceeding $1.0 billion over a three-year period, and (ii) a new excise tax of 1% on the fair market value of net corporate stock repurchases. The provisions of the Inflation Reduction Act are effective for tax years beginning in fiscal year 2023. The Company continues to analyze the impacts that the Inflation Reduction Act will have on future operating results. ​ Beginning in fiscal year 2022, the U.S. Tax Cuts and Jobs Act of 2017 (“TCJA”) enactment of IRC Section 174 requires the capitalization and amortization of research and experimental expenditures. The Company does not believe this legislation will have a material impact on the Company’s Consolidated Financial Statements and will continue to assess the effects. ​ Peruvian Tax Matters— ​ Mining royalty charge: ​ Peruvian special mining tax: ​ Mexican Tax Matters— ​ Since 2014, Mexican operations have been required to pay a mining royalty of 7.5% on taxable earnings before taxes and an additional royalty of 0.5% over gross income from sales of gold, silver and platinum: $1.5 million. ​ On October 26, 2021, the Federal Executive submitted the 2022 Economic Package. The Federal Revenue Law for fiscal year 2022 went into effect on January 1, 2022. The aforementioned proposal does not include any major changes and mostly addresses administrative issues; it does not include tax increases or new taxes. ​ Accounting for Uncertainty in Income Taxes— ​ The total amount of unrecognized tax benefits in 2022, 2021 and 2020, was as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Unrecognized tax benefits, opening balance ​ $ — ​ $ 66.1 ​ $ 58.4 Gross decreases—tax positions in prior period ​ — ​ (10.9) ​ — Gross increases—tax positions in prior period ​ ​ 130.9 ​ ​ — ​ ​ — Gross increases—current-period tax positions ​ — ​ — ​ 7.7 Gross decreases—current-period tax positions ​ ​ (10.7) ​ ​ (1.1) ​ ​ — Decreases related to settlements with taxing authorities ​ (37.5) ​ (54.1) ​ — ​ ​ 82.7 ​ (66.1) ​ 7.7 Unrecognized tax benefits, ending balance ​ $ 82.7 ​ $ — ​ $ 66.1 ​ The company recognizes interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes within the Consolidated Statements of Earnings. For the Peruvian jurisdiction, in addition to the unrecognized tax benefits of $38.8 million, the Company recorded $26.7 million of accrued interest and penalties. The amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $65.5 million at December 31, 2022 and relates entirely to the Peruvian jurisdiction. Any recognition of unrecognized tax benefits within the U.S. jurisdiction would not affect the effective tax rate as long as the Company continues to value U.S. deferred tax assets including foreign tax credits. Offsetting expense related to the change in liability for uncertain tax positions within the U.S. jurisdiction and the change in valuation allowance of the U.S. deferred tax asset for foreign tax credits was presented as a net amount in the components of income taxes. The Company has no unrecognized Mexican tax benefits as of December 31, 2022. ​ The company expects that foreign exchange rates will have an impact on the amount of unrecognized tax benefits in the Peruvian jurisdiction. ​ As of December 31, 2022 and December 31, 2021, the Company’s liability for uncertain tax positions did not include accrued interest and penalties in the U.S. jurisdiction. As of December 31, 2022 the Company’s liability for uncertain tax positions included accrued interest and penalties of $26.7 million in the Peruvian jurisdiction. ​ The following tax years remain open to examination and adjustment in the Company’s three major tax jurisdictions: ​ ​ ​ ​ Peru: 2017 and all subsequent years U.S.: ​ 2017 and all subsequent years Mexico: ​ 2017 and all subsequent years ​ Management does not expect that any of the open years will result in a cash payment within the U.S. jurisdiction in the upcoming twelve months ending December 31, 2023. Management expects to make cash payments of $24.8 million within the Peruvian jurisdiction in the upcoming twelve months ending December 31, 2023.

WORKERS' PARTICIPATION_

WORKERS' PARTICIPATION:	12 Months Ended
	Dec. 31, 2022
WORKERS' PARTICIPATION:
WORKERS' PARTICIPATION:	​ NOTE 8—WORKERS’ PARTICIPATION: ​ The Company's operations in Peru and Mexico are subject to statutory workers' participation. ​ In Peru, the provision for workers' participation is calculated at 8% of pre-tax earnings. The current portion of this participation, which is accrued during the year, is based on the Peruvian Branch's taxable income and is distributed to workers following determination of final results for the year. The annual amount payable to an individual worker is capped at the worker’s salary for an 18 month period. Amounts determined in excess of the 18 months of worker’s salary is no longer made as a payment to the worker and is levied first for the benefit of the “Fondo Nacional de Capacitacion Laboral y de Promocion del Empleo” (National Workers’ Training and Employment Promotion Fund) until this entity receives from all employers in its region an amount equivalent to 2,200 Peruvian taxable units (approximately $2.7 million in 2022). Any remaining excess is levied as payment for the benefit of the regional governments. These levies fund worker training, employment promotion, entrepreneurship and various other programs. ​ In Mexico, workers' participation is determined using the guidelines established in the Mexican income tax law at a rate of 10% of pre-tax earnings as adjusted by the tax law. In 2021, there was a change in the Ley Federal del Trabajo ("Federal Labor Law"), effective in 2022. Under this change, the amount payable to a worker cannot be higher than the maximum between the worker’s salary for a three-month period and the average of the participation received in the last three years. ​ The provision for workers’ participation is allocated to “Cost of sales (exclusive of depreciation, amortization and depletion)”. Workers’ participation expense for the three years ended December 31, 2022 was as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Current ​ $ 347.2 ​ $ 344.5 ​ $ 248.5 Deferred ​ 29.1 ​ (72.8) ​ 19.8 ​ ​ $ 376.3 ​ $ 271.7 ​ $ 268.3 ​

LEASES_

LEASES:	12 Months Ended
	Dec. 31, 2022
LEASES:
LEASES:	NOTE 9—LEASES: ​ The Company has operating leases for power generating facilities, vehicles and properties. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. Some of the Company’s leases include both lease and non-lease components which are accounted for separately. The Company’s leases have remaining lease terms of less than one year to 10 years, and do not include options to extend the leases. The Company’s lease agreements do not contain options to purchase the leased assets or to terminate the leases before the expiration date. In addition, the Company’s lease contracts do not have any material residual value guarantees or material restrictive covenants. As none of the Company’s leases provides an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. ​ The weighted average remaining lease term for the Company’s leases is eight years, and the weighted average discount rate for these leases is 3.87%. ​ The operating lease expense recognized in the years ended December 31, 2022, 2021 and 2020 was classified as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Classification 2022 2021 ​ 2020 Cost of sales (exclusive of depreciation, amortization and depletion) $ 115.5 ​ $ 108.1 ​ $ 114.4 Selling, general and administrative ​ 0.1 ​ 0.1 ​ 0.2 Exploration ​ 0.1 ​ 0.2 ​ 0.2 Total lease expense $ 115.7 ​ $ 108.4 ​ $ 114.8 ​ Maturities of lease liabilities are as follows: ​ ​ ​ ​ ​ ​ ​ Lease liabilities Year (in millions) 2023 $ 115.5 2024 ​ 107.5 2025 ​ 106.2 2026 ​ 106.0 2027 ​ 105.7 After 2027 ​ 523.4 Total lease payments $ 1,064.3 Less: interest on lease liabilities ​ (212.9) Present value of lease payments $ 851.4 ​

ASSET RETIREMENT OBLIGATION_

ASSET RETIREMENT OBLIGATION:	12 Months Ended
	Dec. 31, 2022
ASSET RETIREMENT OBLIGATION:
ASSET RETIREMENT OBLIGATION:	NOTE 10—ASSET RETIREMENT OBLIGATION: ​ Peruvian operations: ​ The Company maintains an 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. ​ On June 24, 2019, MINEM approved a change to the guarantees required for the mining closure plans. The new regulation specifies that annual guarantees can be secured with real estate up to a maximum of 50% and the remaining amount with credit instruments. Currently, the Company has pledged the value of its Lima office complex for the 50% of the guarantee and with a stand-by letter of credit for the other 50% as security for this obligation. Through January 2023, the Company provided total guarantees of $77.1 million. ​ On July 20, 2021, the Peruvian Government published Law 31347, which requires companies in the production stage to set aside additional guarantees for progressive closure of its operations. The resources that back these guarantees will be returned to the Company when activities cease and the regulatory agency verifies that all closure measures have been satisfactorily completed. Under this Law, companies must include activities for environmental remediation within the closure schedule and assume costs associated with environmental impacts that are identified during audits. As of December 31, 2022, the regulation attached to this Law had yet to be published. The Company is currently evaluating the possible financial impact of the Law but cannot fully estimate the magnitude until the Law’s regulation is published. ​ The closure cost recognized for this liability includes the cost, as outlined in its closure plans, of dismantling the Toquepala and Cuajone concentrators, the Ilo smelter and refinery, and the shops and auxiliary facilities at the three units. In March 2016, MINEM approved the Mining Closure Plan for the Toquepala expansion project and the revised closure plans for the Cuajone mine and the Ilo facilities were approved in January and October 2019, respectively. As a result of these new estimates, the Company increased the asset retirement obligation by $28.1 million in 2019. The closure plan for the Tia Maria project was approved in February 2017. The Company, however, has not recorded a retirement obligation for the project because the work on the project is on hold. The Company believes that under these circumstances the recording of a retirement obligation is not appropriate. ​ In 2022, the Company made a change in the estimate for the asset retirement obligation for its Peruvian operations, mainly due to a detailed review of the closing activities required for each facility. The effect of this change was a decrease in the asset retirement liability by $59.5 million, which was recorded in December 2022, reducing the asset retirement asset by $43.3 million and the difference of $16.2 million was recorded as a reduction in cost of goods sold. ​ Mexican operations: ​ The Company has recognized an estimated asset retirement obligation for its mining properties in Mexico as part of its environmental commitment. Even though there is currently no enacted law, statute, ordinance, written or oral contract requiring the Company to carry out mine closure and environmental remediation activities, the Company believes that an obligation presently exists based on historical government requirements for the closure of any facility. The overall cost recognized for mining closure in Mexico includes the estimated costs of dismantling concentrators, smelter and refinery plants, shops and other facilities. ​ In the first quarter of 2022, the Company adjusted its estimate for the asset retirement obligation for its Mexican operations following a detailed review of the closing activities required. The effect was an increase in the asset retirement obligation to the order of $43.3 million. ​ The following table summarizes the asset retirement obligation activity for the years ended December 31, 2021 and 2020 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Balance as of January 1 ​ $ 562.9 ​ $ 545.0 Changes in estimates ​ (10.8) ​ — Additions ​ 11.9 ​ ​ Closure payments ​ (7.1) ​ (5.6) Accretion expense ​ 28.4 ​ 23.5 Balance as of December 31, ​ $ 585.3 ​ $ 562.9 ​

FINANCING_

FINANCING:	12 Months Ended
	Dec. 31, 2022
FINANCING:
FINANCING:	NOTE 11—FINANCING: ​ Long-term debt (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ value as of ​ ​ Face ​ Issuance ​ Issuance ​ December 31, ​ amount discount costs 2022 3.875% Senior unsecured notes due 2025 500 ​ ​ (0.7) ​ ​ (0.7) ​ 498.6 9.250% Yankee bonds due 2028 51.2 ​ ​ — ​ ​ — ​ 51.2 7.500% Senior unsecured notes due 2035 1,000 ​ ​ (11.0) ​ ​ (7.3) ​ 981.7 6.750% Senior unsecured notes due 2040 ​ ​ 1,100 ​ ​ (6.6) ​ ​ (5.2) ​ ​ 1,088.2 5.250% Senior unsecured notes due 2042 1,200 ​ ​ (17.6) ​ ​ (5.9) ​ 1,176.5 5.875% Senior unsecured notes due 2045 1,500 ​ ​ (15.4) ​ ​ (8.2) ​ ​ 1,476.4 4.500% Minera Mexico Senior unsecured notes due 2050 ​ ​ 1,000 ​ ​ (12.1) ​ ​ (9.3) ​ 978.6 Total ​ $ 6,351.2 ​ $ (63.4) ​ $ (36.6) ​ 6,251.2 Less, current portion ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — Total long-term debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 6,251.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ value as of ​ ​ Face ​ Issuance ​ Issuance ​ December 31, ​ ​ amount ​ discount ​ costs ​ 2021 3.500% Senior unsecured notes due 2022 ​ $ 300 ​ $ (0.1) ​ $ (0.2) ​ $ 299.7 3.875% Senior unsecured notes due 2025 ​ 500 ​ ​ (1.0) ​ ​ (1.0) ​ 498.0 9.250% Yankee bonds due 2028 ​ 51.2 ​ ​ — ​ ​ — ​ 51.2 7.500% Senior unsecured notes due 2035 ​ 1,000 ​ ​ (11.6) ​ ​ (7.6) ​ 980.8 6.750% Senior unsecured notes due 2040 ​ 1,100 ​ ​ (6.7) ​ ​ (5.4) ​ ​ 1,087.9 5.250% Senior unsecured notes due 2042 ​ ​ 1,200 ​ ​ (18.1) ​ ​ (6.0) ​ 1,175.9 5.875% Senior unsecured notes due 2045 ​ 1,500 ​ ​ (15.8) ​ ​ (8.3) ​ ​ 1,475.9 4.500% Minera Mexico Senior unsecured notes due 2050 ​ 1,000 ​ ​ (12.3) ​ ​ (9.5) ​ 978.2 Total ​ $ 6,651.2 ​ $ (65.6) ​ $ (38.0) ​ 6,547.6 Less, current portion ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (299.7) Total long-term debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 6,247.9 ​ The bonds, referred above as “Yankee bonds”, contain a covenant requiring Minera Mexico to maintain a ratio of EBITDA to interest expense of not less than 2.5 to 1.0 as such terms are defined in the debt instrument. At December 31, 2022, Minera Mexico was in compliance with this covenant. ​ Between July 2005 and April 2015 the Company issued fixed-rate senior unsecured notes eight times for a total of $6.2 billion, as listed above. Interest on the notes is paid semi-annually in arrears. The notes rank pari passu pari passu ​ The indentures relating to the notes contain certain restrictive covenants, including limitations on liens, limitations on sale and leaseback transactions, rights of the holders of the notes upon the occurrence of a change of control triggering event, limitations on subsidiary indebtedness and limitations on consolidations, mergers, sales or conveyances. Certain of these covenants cease to be applicable before the notes mature if the Company obtains an investment grade rating. The Company obtained investment grade rating in 2005. The Company has registered these notes under the Securities Act of 1933, as amended. The Company may issue additional debt from time to time pursuant to certain of the indentures. If the Company experiences a “Change of Control Triggering Event”, the Company must offer to repurchase the notes at a purchase price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any. A Change of Control Trigger Event means a Change of Control (as defined) and a rating decline (as defined), that is, if the rating of the notes, by at least one of the rating agencies shall be decreased by one or more gradations. ​ At December 31, 2022, the Company was in compliance with the covenants of the notes. ​ On September 26, 2019, SCC’s subsidiary Minera Mexico S.A. de C.V. issued $1.0 billion of fixed-rate senior notes with a discount of $12.7 million. Additionally, issuance costs of $9.8 million associated with these notes were paid and deferred. The unamortized balance of the discount and the costs are presented net of the carrying value of the debt issued and are amortized as interest expense over the life of the loan. This debt was issued in one tranche, due in 2050 at an annual interest rate of 4.5%. Interest on the notes is paid semi-annually in arrears. The Company intends to use the net proceeds from this offering (i) to finance Minera Mexico expansion program, including the Buenavista Zinc, Pilares and El Pilar projects, (ii) for other capital expenditures and (iii) for general corporate purposes. ​ The notes constitute general unsecured obligations of Minera Mexico. The notes were issued in an unregistered offering pursuant to Rule 144A and Regulation S under the Securities Act of 1933. The Company capitalized the costs associated with the issuance of this facility, which are included as part of the amortized cost of the long-term debt in the consolidated balance sheet. ​ In connection with the transaction, on September 26, 2019, Minera Mexico entered into an indenture with Wells Fargo Bank, National Association, as trustee, which provided for the issuance, and set forth the terms of the notes described above. The indenture contains covenants that limit Minera Mexico's ability to, among other things, incur certain liens securing indebtedness, engage in certain sale and leaseback transactions, and enter into certain consolidations, mergers, conveyances, transfers or leases of all or substantially all of Minera Mexico's assets. ​ Aggregate maturities of the outstanding borrowings at December 31, 2022, are as follows: ​ ​ ​ ​ ​ ​ Principal Years ​ Due(*) ​ ​ (in millions) 2023 $ — 2024 ​ ​ — 2025 ​ 500.0 2026 ​ — 2027 ​ ​ — Thereafter ​ 5,851.2 Total ​ $ 6,351.2 (*)

BENEFIT PLANS_

BENEFIT PLANS:	12 Months Ended
	Dec. 31, 2022
BENEFIT PLANS:
BENEFIT PLANS:	​ NOTE 12—BENEFIT PLANS: ​ Post retirement defined benefit plans and defined contribution 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 (the “Expatriate Plan”). Effective October 31, 2000, the Board of Directors amended the qualified pension plan to suspend the accrual of benefits. 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 “Mexican Plan”). ​ The components of net periodic benefit costs calculated in accordance with ASC 715 “Compensation retirement benefits,” using December 31 as a measurement date, consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 2020 Service cost ​ $ 1.8 ​ $ 1.4 ​ $ 1.4 Interest cost ​ 2.3 ​ 1.5 ​ 1.7 Expected return on plan assets ​ (3.9) ​ (3.3) ​ (2.9) Amortization of net actuarial loss ​ ​ 0.1 ​ ​ (0.1) ​ ​ 0.1 Amortization of prior service cost / (credit) ​ 0.2 ​ 0.2 ​ 0.2 Settlement / Curtailment ​ ​ — ​ ​ — ​ ​ (0.4) Amortization of net loss/(gain) ​ 0.3 ​ 0.3 ​ 0.2 Net periodic benefit cost ​ $ 0.8 ​ $ — ​ $ 0.3 ​ The change in benefit obligation and plan assets and a reconciliation of funded status are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in millions) 2022 2021 Change in benefit obligation: ​ ​ ​ ​ ​ ​ Projected benefit obligation at beginning of year ​ $ 36.3 ​ $ 29.9 Service cost ​ 1.8 ​ 1.4 Interest cost ​ 2.3 ​ 1.5 Benefits paid ​ (2.8) ​ (2.2) Actuarial loss ​ 1.0 ​ 6.7 Actuarial gain assumption changes ​ (1.7) ​ (0.4) Inflation adjustment ​ 1.7 ​ (0.6) Projected benefit obligation at end of year ​ $ 38.6 ​ $ 36.3 Change in plan assets: ​ ​ ​ ​ ​ ​ Fair value of plan assets at beginning of year ​ $ 56.0 ​ $ 54.4 Actual return on plan assets ​ 1.9 ​ 4.3 Employer contributions ​ (0.8) ​ (0.6) Benefits paid ​ (0.8) ​ (0.8) Currency exchange rate adjustment ​ 2.9 ​ (1.3) Fair value of plan assets at end of year ​ $ 59.2 ​ $ 56.0 Funded status at end of year: ​ $ 20.6 ​ $ 19.7 ASC-715 amounts recognized in statement of financial position consists of: ​ ​ ​ ​ ​ ​ Non-current assets ​ $ 20.6 ​ $ 19.7 Total ​ $ 20.6 ​ $ 19.7 ASC-715 amounts recognized in accumulated other comprehensive income (net of income taxes of $(4.8) million and $(4.2) million in 2022 and 2021, respectively) consists of: ​ ​ ​ ​ ​ ​ Net loss (gain) ​ $ 6.7 ​ $ 6.2 Prior service cost ​ 1.1 ​ 1.0 Total ​ $ 7.8 ​ $ 7.2 ​ The following table summarizes the changes in accumulated other comprehensive income for the years ended December 31, related to the defined benefit pension plan, net of income tax: ​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 Reconciliation of accumulated other comprehensive income: ​ ​ ​ ​ ​ ​ Accumulated other comprehensive income at beginning of plan year ​ $ 7.2 ​ $ 4.2 Net loss/(gain) ocurring during the year ​ 0.8 ​ 3.3 Net loss/(gain) amortized during the year ​ (0.4) ​ (0.2) Currency exchange rate adjustment ​ 0.2 ​ (0.1) Net adjustment to accumulated other comprehensive income (net of income taxes of $(0.5) million and $(1.9) million in 2022 and 2021, respectively) ​ 0.6 ​ 3.0 Accumulated other comprehensive income at end of plan year ​ $ 7.8 ​ $ 7.2 ​ The following table summarizes the amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost in 2022 and 2021, net of income tax: ​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 Net loss / (gain) ​ $ 0.8 ​ $ 3.3 Amortization of net (loss) gain ​ (0.4) ​ (0.2) Total amortization expenses ​ $ 0.4 ​ $ 3.1 ​ The assumptions used to determine the pension obligations are: ​ ​ ​ ​ ​ ​ ​ ​ ​ Expatriate Plan 2022 2021 2020 Discount rate 4.85 % 2.40 % 1.90 % Expected long-term rate of return on plan asset 4.00 % 3.00 % 3.50 % Rate of increase in future compensation level N/A ​ N/A ​ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican Plan(*) 2022 2021 2020 Discount rate 10.09 % 8.02 % 7.43 % Expected long-term rate of return on plan asset 10.09 % 8.02 % 7.43 % Rate of increase in future compensation level 4.75 % 4.50 % 4.50 % (*) ​ The scheduled maturities of the benefits expected to be paid in each of the next five years, and thereafter, are as follows: ​ ​ ​ ​ ​ ​ Expected Years ​ Benefit Payments ​ ​ (in millions) 2023 ​ $ 7.5 2024 ​ 3.2 2025 ​ 3.7 2026 ​ 3.6 2027 ​ 4.2 2028 to 2032 ​ 20.2 Total ​ $ 42.4 ​ Expatriate Plan ​ The Company’s funding policy is to contribute amounts to the qualified plan sufficient to meet the minimum funding requirements set forth in the Employee Retirement Income Security Act of 1974 plus such additional amounts as the Company may determine to be appropriate. ​ Plan assets are invested in a group annuity contract with Metropolitan Life Insurance Company (“MetLife”). The Contract invests in the MetLife General Account Payment Fund (the "General Account") and the MetLife Broad Market Core Bond Account (the “Bond Fund”) managed by BlackRock, Inc. ​ The General Account is broadly diversified across asset classes and backed by the total capital of MetLife. ​ The Bond Fund seeks to outperform the Bloomberg U.S. Aggregate Bond Index, net of fees, over a full market cycle. The Bond Fund invests in publicly traded, investment grade securities. These may include corporate securities, mortgage securities, treasuries and cash, agency securities, commercial mortgage backed securities and other investment vehicles adhering to the fund’s investment objectives. These investments are classified as Level 1 because they are valued using quoted prices of the same securities as they consist of instruments which are publicly traded. ​ Plan assets are invested with the objective of maximizing returns with an acceptable level of risk and maintaining adequate liquidity to fund expected benefit payments. The Company's policy for determining asset mix-targets to meet investment objectives includes periodic consultation with recognized third-party investment consultants. ​ The expected long-term rate of return on plan assets is reviewed annually, taking into consideration asset allocations, historical returns and the current economic environment. Based on these factors the Company expects its assets will earn an average of 4.00% per annum assuming its long-term mix will be consistent with its current mix. ​ Mexican Plan ​ Minera Mexico’s policy for determining asset mix targets includes periodic consultation with recognized third-party investment consultants. The expected long-term rate of return on plan assets is updated periodically, taking into consideration assets allocations, historical returns and the current economic environment. The fair value of plan assets is impacted by general market conditions. If actual returns on plan assets vary from the expected returns, actual results could differ. ​ The plan assets are managed by three financial institutions, Scotiabank Inverlat S.A., Banco Santander and GBM Grupo Bursatil Mexicano, S.A. 76% of the funds are invested in Mexican government securities, including treasury certificates and development bonds of the Mexican government. The remaining 24% is invested in common shares of Grupo Mexico. The plan assets are invested without restriction in active markets that are accessible when required and are therefore considered as level 1, in accordance with ASC 820 “Fair Value Measurement.” ​ These plans accounted for approximately 100% of benefit obligations. The following table represents the asset mix of the investment portfolio as of December 31: ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Asset category: ​ ​ ​ ​ ​ Treasury bills 76 % 73 % Equity securities 24 % 27 % ​ 100 % 100 % ​ The amount of contributions that the Company expects to pay to the plan during 2023 is $6.7 million. ​ Post-retirement Health Care Plan ​ In Mexico, health services are provided by the Mexican Social Security Institute. ​ The components of net period benefit costs for the three years ended December 31, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 2020 Interest cost ​ $ 1.7 ​ $ 1.6 ​ $ 1.3 Amortization of net loss (gain) ​ 0.1 ​ 0.2 ​ — Net periodic benefit cost ​ $ 1.8 ​ $ 1.8 ​ $ 1.3 ​ The change in benefit obligation and a reconciliation of funded status are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in millions) 2022 2021 Change in benefit obligation: ​ ​ ​ ​ ​ ​ Projected benefit obligation at beginning of year ​ $ 21.4 ​ $ 23.8 Interest cost ​ 1.7 ​ 1.6 Benefits paid ​ (1.6) ​ (1.4) Actuarial (gain) ​ (2.6) ​ (2.0) Inflation adjustment ​ 1.4 ​ (0.6) Projected benefit obligation at end of year ​ $ 20.3 ​ $ 21.4 Funded status at end of year: ​ $ 20.3 ​ $ 21.4 ASC-715 amounts recognized in statement of financial position consists of: ​ ​ ​ ​ ​ ​ Non-current liabilities ​ (20.3) ​ (21.4) Total ​ $ (20.3) ​ $ (21.4) ASC-715 amounts recognized in accumulated other comprehensive income consists of: ​ ​ ​ ​ ​ ​ Net loss (gain) ​ $ 1.6 ​ $ 3.3 Total (net of income taxes of $(0.5) million and $(1.2) million in 2022 and 2021, respectively) ​ $ 1.6 ​ $ 3.3 ​ The following table summarizes the changes in accumulated other comprehensive income for the years ended December 31, related to the post-retirement health care plan, net of income tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in millions) 2022 2021 Reconciliation of accumulated other comprehensive income: ​ ​ ​ ​ ​ ​ Accumulated other comprehensive income at beginning of plan year ​ $ 3.3 ​ $ 4.6 Net loss/(gain) occurring during the year ​ (1.8) ​ (1.1) Net loss/(gain) amortized during the year ​ (0.1) ​ (0.1) Currency exchange rate adjustment ​ 0.2 ​ (0.1) Net adjustment to accumulated other comprehensive income (net of income taxes of $(0.5) million and $(1.2) million in 2022 and 2021, respectively) ​ (1.7) ​ (1.3) Accumulated other comprehensive income at end of plan year ​ $ 1.6 ​ $ 3.3 ​ The following table summarizes the amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost in 2022 and 2021, net of income tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in millions) 2022 2021 Net loss / (gain) ​ $ (1.8) ​ $ (1.1) Amortization of net (loss) gain ​ (0.1) ​ (0.1) Total amortization expenses ​ $ (1.9) ​ $ (1.2) ​ The discount rates used in the calculation of other post-retirement benefits and cost as of December 31 were: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Expatriate health plan ​ ​ ​ ​ ​ ​ ​ Discount rate 4.85 % 2.40 % 1.90 % Mexican health plan ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate 10.09 % 8.02 % 7.43 % ​ The benefits expected to be paid in each of the next five years, and thereafter, are as follows: ​ ​ ​ ​ ​ ​ Expected Year ​ Benefit Payments ​ ​ (in millions) 2023 ​ $ 1.6 2024 ​ ​ 1.6 2025 ​ 1.7 2026 ​ 1.7 2027 ​ 1.7 2028 to 2032 ​ 9.4 Total ​ $ 17.7 ​ Mexican Health Plan ​ For measurement purposes, a 4.75% annual rate of increase in the per capita cost of covered health care benefits was assumed for 2022 and remains at that level thereafter. ​ An increase in other benefit cost trend rates have a significant effect on the amount of the reported obligations, as well as component cost of the other benefit plan. One percentage-point change in assumed other benefits cost trend rates would have the following effects: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One Percentage ​ ​ Point (in millions) Increase Decrease Effect on total service and interest cost components ​ $ 2.1 ​ $ 1.8 Effect on the post-retirement benefit obligation ​ $ 20.9 ​ $ 19.0 ​

COMMITMENTS AND CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES:	12 Months Ended
	Dec. 31, 2022
COMMITMENTS AND CONTINGENCIES:
COMMITMENTS AND CONTINGENCIES:	​ NOTE 13—COMMITMENTS AND CONTINGENCIES: ​ Environmental matters: ​ The Company has established comprehensive environmental conservation programs at its mining facilities in Peru and Mexico. The Company’s environmental programs include water recovery systems to conserve water and minimize the 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, among others. ​ Environmental capital investments in years 2022, 2021 and 2020, were as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Peruvian operations (*) ​ $ 8.7 ​ $ 6.4 ​ $ (3.3) Mexican operations ​ 52.7 ​ 62.3 ​ 41.1 ​ ​ $ 61.4 ​ $ 68.7 ​ $ 37.8 (*) ​ Peruvian operations ​ Air Quality Standards (“AQS”): ​ Soil Environmental Quality Standards (“SQS”): ​ Climate change: On April 17, 2018, the Peruvian government enacted Law N. 30754, which promulgates that it is in the national interest to promote public and private investments in climate change management and establishes a Climate Change Framework. The law proposes creating an institutional framework to address climate change in Peru and outlines new measures for climate change mitigation, such as provisions to address an increase in carbon capture and use of carbon sinks; afforestation and reforestation practices; land use changes; sustainable systems of transportation, solid waste management, and energy systems. This climate change framework law incorporates obligations from the Paris Agreement. Supreme Decree 013-2019 published on December 31, 2019, enacted statutory regulations, which are applicable to all Peruvian institutions and agencies. It is expected that additional Peruvian regulations will be applicable to non-governmental entities. However, no carbon pricing mechanism is currently applicable to the Company’s operations in Peru. ​ Mexican operations ​ 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. It may also initiate administrative proceedings against companies that violate environmental laws, which in the most extreme cases may result in the temporary or permanent shutdown of non-complying facilities, the revocation of operating licenses and/or other sanctions or fines. ​ In 2011, the General Law was amended to provide 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 as long as it can be argued that the harm may be caused. Additionally, amendments to the Civil Federal Procedures Code (“CFPC”) were enacted in 2011 and established three categories of collective actions under which a group of 30 or more individuals can be considered sufficient to prove a “legitimate interest” to file civil actions for injuries arising out of alleged violations of environmental, consumer protection, financial services and economic competition laws. The group can seek restitution or economic compensation for the alleged injuries or suspension of the activities which allegedly caused the injuries in question. 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 for actions to be considered to likely cause environmental harm. If a possible determination regarding harm occurs, environmental clean-up and remedial actions sufficient to restore environment to a pre-existing condition should be taken. If restoration is not possible, compensation measures should be provided. Criminal penalties and monetary fines can be imposed under this law. ​ In February 2019, the Mexican Supreme Court confirmed the constitutionality of an ecological tax on extractive activities developed in the state of Zacatecas, which taxes the environmental remediation actions; emissions of certain gases to the atmosphere; emissions of polluting substances to the soil or water; and waste storage within the state. The Company has determined that this environmental regulation will have no impact on its financial position. ​ Guaymas sulfuric acid spill: ​ The Guaymas bay has an estimated water volume of 340 million cubic meters. The spill, upon entering in contact with the sea’s alkaline conditions, led to quick dilution of the discharge. Thus, the sulfuric acid was naturally and immediately neutralized. As a result, the discharge was considered harmless; the report from the Ministry of Navy found that neither the flora nor fauna of the port area were affected. ​ On July 10, 2019, PROFEPA made a first inspection of the area, concluding that the Company executed all the appropriate procedures in order to contain the discharge, and no reference was made to the existence of negative impacts on the environment resulting from the incident. ​ On Friday, July 19, 2019, PROFEPA revisited the facilities to carry out a second inspection and declared a partial temporary shutdown that only affected the storage process and transportation of sulfuric acid at the terminal, arguing the absence of an authorization of environmental impact. It is important to note that these facilities have been in operation since 1979, prior to the 1988 Mexican General Law of Ecological Balance and the Protection of the Environment. Companies that were operating before the aforementioned law are exempt from the permit requirement. In addition, in 2009, PROFEPA awarded a certification of “Clean Industry and Environmental Quality” to the facility which was subsequently renewed four times (for a two-year period each time). ​ The Company filed a lawsuit against the closure, which was dismissed by a ruling on August 25, 2021. This ruling has been challenged through a motion to reopen the case, which was submitted on September 28, 2021. On January 4, 2022, the challenge was resolved. The authority imposed two fines and ruled that the temporary closure would remain in place until the environmental impact statement is obtained. The Company intends to appeal this ruling. ​ The Company is not aware of the reasons or causes for this partial and temporary closure, but will continue working with the environmental authorities to provide certainty that the operation is in strict compliance with environmental regulations. The Company expects the environmental authorities to suspend the partial temporary shutdown, once they resolve their concerns. Currently, the Company does not expect any impact on its operations. As of December 31, 2022, the matter is pending resolution. ​ Climate change: ​ The Company believes that all of its facilities in Peru and Mexico are in material compliance with environmental, mining and other applicable laws and regulations. The Company also believes that continued compliance with environmental laws of Mexico and Peru will have no material adverse effects on the Company’s business, properties, or operating results. ​ Litigation matters ​ Peruvian operations: ​ The Tia Maria Mining Project ​ There are five lawsuits filed against the Peruvian Branch of the Company related to the Tia Maria project. The lawsuits seek (i) to declare null and void the resolution that approved the Environmental Impact Assessment of the project; (ii) the cancellation of the project and the withdrawal of mining activities in the area; (iii) to declare null and void the mining concession application for the Tia Maria project; and (iv) to declare null and void the resolution that approved the construction license. The lawsuits were filed by Messrs. Ernesto Mendoza Padilla (filed May 26, 2015), Juan Alberto Guillen Lopez (filed June 18, 2015), Junta de Usuarios del Valle del Tambo (filed April 30, 2015), Gobierno Regional de Arequipa (filed December 16, 2019) and Municipalidad Distrital de Dean Valdivia (filed in January 2020 but notified in August 2022). ​ The Mendoza Padilla case was initially rejected by the lower court on July 8, 2015. This ruling was confirmed by the Superior Court on June 14, 2016. On July 12, 2016, the case was appealed before the Constitutional Court. On November 20, 2018, the Constitutional Court reversed the previous decisions and remanded the case to the lower court for further action. In the third quarter of 2020, the Company was notified that the complaint had been reinstated. The Company answered the complaint on September 15, 2020. On December 2, 2020, the lower court issued a resolution, considering the complaint answered. On September 27, 2021, the Court ordered to temporarily archive the case. As of December 31, 2022, the case remains pending resolution. ​ The Guillen Lopez case is currently before the lower court. Oral arguments took place on July 19, 2019. On January 7, 2020, the Judge decided to suspend the proceeding until the del Carpio Lazo case is concluded. On March 3, 2022, SCC’s Peruvian Branch informed the Court that the del Carpio Lazo case had concluded. As of December 31, 2022, the case remains pending resolution. ​ The Junta de Usuarios del Valle del Tambo case is currently before the lower court. In May 2016, the Company was included in the process, after the Ministry of Energy and Mines filed a civil complaint. On March 6, 2019, the Company was formally notified of the lawsuit and answered the complaint on March 20, 2019. On July 8, 2019, the Company requested the suspension of the proceeding until the del Carpio Lazo case is concluded. On March 11, 2022, SCC’s Peruvian Branch informed the Court that the del Carpio Lazo case had concluded. As of December 31, 2022, the case remains pending resolution. ​ The Gobierno Regional de Arequipa case is currently before the lower court. The Company answered the complaint on September 15, 2020. On February 8, 2021, the Judge decided to suspend the proceeding until the del Carpio Lazo case is concluded. On March 24, 2022, SCC’s Peruvian Branch informed the Court that the del Carpio Lazo case had concluded. On March 28, 2022, the Judge cancelled the suspension. On May 24, 2022, the parties presented their closing arguments and as of December 31, 2022, the case remains pending resolution. ​ The Municipalidad Distrital de Dean Valdivia case is currently before the lower court. On August 17, 2022, the Company was formally notified of the lawsuit and answered the complaint on September 2, 2022. As of December 31, 2022, the case remains pending resolution. ​ The Company asserts that these lawsuits are without merit and is vigorously defending against them. The potential contingency amount for these cases cannot be reasonably estimated by management at this time. ​ Special Regional Pasto Grande Project (“Pasto Grande Project”) ​ In 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, since 1995, constructed and operated the tailings dams with proper governmental authorization. Following a motion filed by the Peruvian Branch, the lower court included MINEM as a defendant in this lawsuit. MINEM has answered the complaint and denied the validity of the claim. On July 2, 2022, the case was temporarily archived. As of December 31, 2022, the case remains pending resolution. ​ SCC’s Peruvian Branch asserts that the lawsuit is without merit and is vigorously defending against it. The amount of this contingency cannot be reasonably estimated by management at this time. ​ Mexican operations ​ The Accidental Spill at Buenavista Mine of 2014 ​ In relation to the 2014 accidental spill of copper sulfate solution at a leaching pond in the Buenavista mine, the following legal procedures are pending against the Company: ​ On August 19, 2014, PROFEPA, as part of the administrative proceeding initiated after the spill, announced the filing of a criminal complaint against Buenavista del Cobre S.A. de C.V. (“BVC”), a subsidiary of the Company, in order to determine those responsible for environmental damages. During the second quarter of 2018, the criminal complaint was dismissed. This decision was appealed and was pending resolution as of December 31, 2022. ​ Through the first half of 2015, six collective action lawsuits were filed in federal courts in Mexico City and Sonora against two subsidiaries of the Company seeking economic compensation, clean up and remedial activities in order to restore the environment to its pre-existing conditions. Three of the collective action lawsuits have been dismissed by the court. As of December 31, 2022, three lawsuits were still pending: two were filed by Acciones Colectivas de Sinaloa, A.C. and one, by Defensa Colectiva, A.C.; requesting precautionary measures about construction of facilities for monitoring public health services and prohibiting the closure of the Rio Sonora Trust. ​ Similarly, during 2015, eight civil action lawsuits were filed against BVC in the state courts of Sonora seeking damages for alleged injuries and for moral damages as a consequence of the spill. The plaintiffs in the state court lawsuits are: Jose Vicente Arriola Nunez et al; Santana Ruiz Molina et al; Andres Nogales Romero et al; Teodoro Javier Robles et al; Gildardo Vasquez Carvajal et al; Rafael Noriega Souffle et al; Grupo Banamichi Unido de Sonora El Dorado, S.C. de R.L. de C.V; and Marcelino Mercado Cruz. In 2016, three additional civil action lawsuits, claiming similar damages, were filed by Juan Melquicedec Lebaron; Blanca Lidia Valenzuela Rivera et al and Ramona Franco Quijada et al. In 2017, BVC was served with thirty-three additional civil action lawsuits, claiming similar damages. The lawsuits were filed by Francisco Javier Molina Peralta et al; Anacleto Cohen Machini et al; Francisco Rafael Alvarez Ruiz et al; Jose Alberto Martinez Bracamonte et al; Gloria del Carmen Ramirez Duarte et al; Flor Margarita Sabori et al; Blanca Esthela Ruiz Toledo et al; Julio Alfonso Corral Dominguez et al; Maria Eduwiges Bracamonte Villa et al; Francisca Marquez Dominguez et al; Jose Juan Romo Bravo et al; Jose Alfredo Garcia Leyva et al; Gloria Irma Dominguez Perez et al; Maria del Refugio Romero et al; Miguel Rivas Medina et al; Yolanda Valenzuela Garrobo et al; Maria Elena Garcia Leyva et al; Manuel Alfonso Ortiz Valenzuela et al; Francisco Alberto Arvayo Romero et al; Maria del Carmen Villanueva Lopez et al; Manuel Martin Garcia Salazar; Miguel Garcia Arguelles et al; Dora Elena Rodriguez Ochoa et al; Honora Eduwiges Ortiz Rodriguez et al; Francisco Jose Martinez Lopez et al; Maria Eduwiges Lopez Bustamante; Rodolfo Barron Villa et al, Jose Carlos Martinez Fernandez et al, Maria de los Angeles Fabela et al; Rafaela Edith Haro et al; Luz Mercedes Cruz et al; Juan Pedro Montaño et al; and Juana Irma Alday Villa. In the first quarter of 2018, BVC was served with another civil action lawsuit, claiming similar damages. The lawsuit was filed by Alma Angelina Del Cid Rivera et al. In the last quarter of 2018, BVC was served with other three civil action lawsuits, claiming similar damages. These lawsuits were filed by Los Corrales de la Estancia, S.C. de R.L.; Jose Antonio Navarro; Jesus Maria Peña Molina, et al; these actions were dismissed by the court, because they have expired. As of December 31, 2022, forty-five cases remained pending resolution. ​ In 2015, four constitutional lawsuits (juicios de amparo) were filed before Federal Courts against various authorities and against a subsidiary of the Company, arguing; (i) the alleged lack of a waste management program approved by SEMARNAT; (ii) the alleged lack of a remediation plan approved by SEMARNAT with regard to the August 2014 spill; (iii) the alleged lack of community approval regarding the environmental impact authorizations granted by SEMARNAT to one subsidiary of the Company; and (iv) the alleged inactivity of the authorities with regard of the spill in August 2014. The plaintiffs of these lawsuits are: Francisca Garcia Enriquez, et al filed two lawsuits, Francisco Ramon Miranda, et al and Jesus David Lopez Peralta et al. In the third quarter of 2016, four additional constitutional lawsuits, claiming similar damages were filed by Mario Alberto Salcido et al; Maria Elena Heredia Bustamante et al; Martin Eligio Ortiz Gamez et al; and Maria de los Angeles Enriquez Bacame et al. In the third quarter of 2017, BVC was served with another constitutional lawsuit filed by Francisca García Enriquez et al. In 2018, BVC was served with two additional constitutional lawsuits that were filed against SEMARNAT by Norberto Bustamante et al. With regard to the constitutional lawsuit filed by Maria Elena Heredia Bustamante et al; in which it was claimed the lack of community approval regarding the authorization granted by SEMARNAT to build the new BVC tailings dam, on September 5, 2018, the Supreme Court of Justice issued a resolution establishing that such authorization was granted to BVC in compliance with the applicable legislation. However, SEMARNAT must carry out a public meeting to inform the community of the technical aspects required to build the dam, potential impacts and prevention measures. This public meeting will have no material effects to BVC’s operations. SEMARNAT has carried out the consultation ordered by the Supreme Court. As a result, it has informed the corresponding Judge about its compliance with the resolution, in which BVC was required to implement additional measures of environmental impact prevention, such as: (i) the building of at least three monitoring wells downstream from the curtain of the contingency dam in a period of six months; (ii) monitoring of the groundwater level and water quality every six months; (iii) carrying out rain collection work in order to restore water to the Sonora River basin, with six months granted to present the execution program; (iv) determine the location of wildlife conservation and protection areas and define the need to establish biological corridors; (v) obtain photographic or videographic evidence every six months; (vi) submitting to SEMARNAT two years before the closure and abandonment of the site, or earlier if necessary, the closure program that includes the cleaning and restoration of the soil including Mexican regulation NOM-141; (vii) include the measures in the Environmental Monitoring Program according to the environmental components impacted; and (viii) hiring an external environmental consultant to validate compliance with the current and new conditions imposed. The foregoing does not impact BVC’s operations. Additionally, the lawsuits filed by Maria de los Angeles Enriquez Bacame and Norberto Bustamante have been dismissed and closed without prejudice to the Company. As of December 31, 2022, the remaining cases were still pending resolution. ​ It is currently not possible to determine the extent of the damages sought in these state and federal lawsuits but the Company believes that these lawsuits are without merit. Accordingly, the Company is vigorously defending against them. Nevertheless, the Company believes that none of the legal proceedings resulting from the spill, individually or in the aggregate, would have a material effect on its financial position or results of operations. ​ Corporate operations ​ Carla Lacey, on behalf of herself and all other similarly situated stockholders of Southern Copper Corporation, and derivatively on behalf of Southern Copper Corporation ​ In April 2019, a derivative lawsuit was filed against the Company, certain current and former Directors, and Grupo Mexico in the Delaware Court of Chancery relating to certain construction contracts, contracts for the purchase and sale of minerals, and transportation contracts entered into between the Company’s subsidiaries and subsidiaries of Grupo Mexico. ​ In October 2019, the plaintiff amended the complaint to include claims related to certain administrative services contracts between the Company’s subsidiaries and Grupo Mexico. The amended complaint alleges, among other things, that the construction, mineral, transportation and administrative services contracts were unfair as a result of breaches of fiduciary duties and the Company’s charter. The amended complaint also added Americas Mining Corporation (“AMC”) as a defendant, alleging that AMC breached its fiduciary duties as a controlling stockholder of the Company. The amended complaint seeks, among other things, unspecified monetary damages. In January 2020, the Company, the current and former Directors, and Grupo Mexico responded to the complaint by filing motions to dismiss. The Plaintiff filed a brief in response to the motions on March 13, 2020. On July 16, 2020, the Court denied the motions to dismiss the breach of fiduciary duty claims against the Directors. On October 6, 2020, the Court dismissed the Plaintiff’s claims against Grupo Mexico for lack of personal jurisdiction. On February 11, 2021, the Court granted the Directors’ motion to dismiss plaintiff’s breach of contract claim. The Court also granted AMC’s motion to dismiss all claims against AMC other than those related to the mineral contracts. ​ On July 12, 2021, the parties reached an agreement-in-principle to settle the lawsuit, subject to Court approval. On September 29, 2021, the parties filed a Stipulation and Agreement of Compromise, Settlement and Release with the Court. On February 1, 2022, the Judge approved the settlement and awarded certain fees to the plaintiff’s attorneys. The Judge’s order for this decision was registered on February 2, 2022. Under applicable law, there was a 30-day period for parties to appeal the Judge's order. This period expired on March 4, 2022 and therefore the Judge's order is considered final. ​ Labor matters ​ Peruvian operations: ​ During 2021, the Company hold talks with the six unions to sign collective agreements prior to their effective dates. As a result, between June and December 2021, the Company signed collective agreements with the six unions with durations between three ​ In the first half of 2022, the six unions came together to defend their rights to work in the Cuajone unit. This action was in response to the cut off of water supply and the obstruction of a railroad section carried out by a small group of residents from the community of Tumilaca, Pocata, Coscore and Tala, Moquegua, which directly affected the health and safety of workers and their families and the production process. The Federacion Nacional de Trabajadores Mineros Metalurgicos y Siderurgicos del Peru ("National Federation of Metallurgical and Steel Mining Workers of Peru") expressed firm disapproval of actions against the Cuajone unit and ratified its collective agreements. ​ Mexican operations ​ The workers of the San Martin mine were on strike since July 2007. On February 28, 2018, the striking workers of the San Martín mine of IMMSA held an election to vote on the union that would hold the collective bargaining agreement at the San Martin mine. The Federacion Nacional de Sindicatos Independientes (the National Federation of Independent Unions) won the vote by a majority. Nevertheless, the vote was challenged by the National Mining Union. On June 26, 2018, the Federal Mediation and Arbitration Board issued a ruling recognizing the election results. Due to the agreement between workers and the Company to end the protracted strike, on August 22, 2018, the Federal Mediation and Arbitration Board authorized the restart of operations of the San Martin mine. Such authorization was challenged by the National Mining Union. On April 4, 2019, the Federal Mediation and Arbitration Board recognized, once again, the election results from February 28, 2018, by which the National Federation of Independent Unions won by a majority. In the last quarter of 2019, a Federal Court issued a resolution that established that the Labor Court should analyze the list of workers with the right to vote in the union election. The Company and the National Federation of Independent Unions challenged such determination before the Supreme Court of Justice. Such challenges were dismissed by the Supreme Court. As a consequence, on September 6, 2021, the Federal Mediation and Arbitration Board issued a new resolution determining that, based on the documents submitted by the National Federation of Independent Unions and given the status of the strike until 2018, it was not possible to create a registry of workers holding a right to vote. Therefore, in case of a strike, any economic collective proceedings shall remain suspended. The Federal Mediation and Arbitration Board shall decide on the request of the majority of workers to end the strike, despite the opposition of the National Mining Union. The Company expects that the conflict will be solved in accordance with the legal framework set by labor authorities and that any actions taken will respect the workers’ will. ​ In the case of the Taxco mine, its workers have been on strike since July 2007. After several legal procedures, in August 2015, the Supreme Court decided to assert jurisdiction over the case and to rule on it directly. As of December 31, 2022, the case was pending resolution without further developments. ​ It is expected that operations at the Taxco mine will remain suspended until the labor issues are resolved. In view of the lengthy strike, the Company has reviewed the carrying value of the Taxco mine to ascertain whether impairment exists. The Company concluded that there is a non-material impairment of the assets located at this mine. ​ 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: ​ Michiquillay: ​ In June 2018, the Company signed a contract for the acquisition of the Michiquillay copper project in Cajamarca, Peru, at a purchase price of $400 million. Michiquillay is a world class mining project with estimated inferred mineral resources of 2,288 million tonnes with an estimated copper grade of 0.43%. It is expected to produce 225,000 tonnes of copper per year (along with by-products of molybdenum, gold and silver) for an initial mine life of more than 25 years. ​ As per the purchase agreement, the Company paid $12.5 million at the signing of the contract and $12.5 million in June 2021. The remaining balance of $375.0 million will be paid if the Company decides to develop the project. Therefore, it is not a present obligation. In June 2022, the Company notified the Peruvian authorities the end of the suspension period and the start of the pre-operational period that lasts 12 years and it can be extended for three ​ In 2021, the Company signed social agreements with the Michiquillay and La Encañada communities. In addition, in October 2021, the Peruvian Ministry of Energy and Mines approved the semi-detailed environmental impact study for the project. In the last quarter of 2022, the Company informed the MINEM that exploration activities had begun and that it had initiated the assessment of existing mineral resources at depth. In 2022, in accordance with the social agreements with the Michiquillay and La Encañada communities, the Company hired unskilled labor and paid for the use of surface land. The Company will continue to make surface land payments in 2023 and plans to support social programs in both communities as it rolls out additional exploration activities. ​ Social agreements with the Michiquillay and La Encañada communities represent an opportunity to improve quality of life of the residents through the Company´s strong social programs and backed by a solid framework for technical work at the project level. The main commitments signed by the Company in the social agreements are related to providing support for agricultural and livestock activities, financial support for local initiatives, and social programs in favor of education, water management, waste disposal, and healthcare for vulnerable groups. Corporate Social Responsibility: ​ The Company has a corporate social responsibility policy to maintain and promote the continuity of its mining operations while obtaining the best results. The main objective of this policy is to integrate the Company´s operations with local communities in the areas of influence of its operations by creating permanent positive relationships to develop optimum social conditions and promote sustainable development in the area. Accordingly, the Company has made the following commitments: ​ Tacna Region ​ As the Toquepala expansion project has been completed, the Company considers that these commitments constitute present obligations of the Company and consequently has recorded a liability of $31.2 million in its consolidated financial statements as of December 31, 2022. ​ In addition, the Company has committed S/97.7 million (approximately $25.6 million) for the construction of a high-achievement school in the Tacna region under the “social investment for taxes” (obras por impuestos) program which allows the Company to use these amounts as an advance payment of taxes. ​ Moquegua Region ​ In addition, the Company has committed S/152.3 million (approximately $39.9 million) to build four infrastructure projects in the Moquegua region under the “social investment for taxes” (obras por impuestos) program, which allows the Company to use these amounts as an advance payment of taxes. ​ Power purchase agreements: ​ ● Electroperu S.A.: In June 2014, the Company entered into a power purchase agreement for 120 megawatt (“MW”) with the state power company Electroperu S.A., under which Electroperu S.A. began supplying energy for the Peruvian operations for twenty years starting on April 17, 2017. ​ ● Kallpa Generacion S.A. (“Kallpa”): In July 2014, the Company entered into a power purchase agreement for 120 MW 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. In May 2016, the Company signed an additional power purchase agreement for a maximum of 80 MW with Kallpa, under which Kallpa began supplying energy for the Peruvian operations related to the Toquepala Expansion and other minor projects starting on May 1, 2017 and ending on October 31, 2029. ​ Mexican operations ​ Power purchase agreements: ​ ● MGE: In 2012, the Company signed a power purchase agreement with MGE, an indirect subsidiary of Grupo Mexico, to supply power to some of the Company’s Mexican operations through 2032. For further information, please see Note 18 “Related party transactions”. ​ ● Eolica el Retiro, S.A.P.I. de C.V.: In 2013, the Company signed a power purchase agreement with Eolica el Retiro, S.A.P.I de C.V. a windfarm energy producer that is an indirect subsidiary of Grupo Mexico, to supply power to some of the Company’s Mexican operations. For further information, please see Note 18 “Related party transactions”. ​ ● Parque Eolico de Fenicias, S. de R.L. de C.V.: On February 20, 2020, the Company signed a power purchase agreement with Parque Eolico de Fenicias, S. de R.L. de C.V., an indirect subsidiary of Grupo Mexico, to supply 611,400 MWh of power per year to some of the Company´s Mexican operations for 20 years . This agreement is expected to become effective in the first semester of 2023. ​ Corporate operations ​ Commitment for Capital projects: ​ As of December 31, 2022, the Company has committed approximately $405.5 million for the development of its capital investment projects. ​ Tax contingency matters: ​ Tax contingencies are provided for under ASC 740-10-50-15 Uncertain tax position (see Note 7 “Income taxes”).

STOCKHOLDERS' EQUITY_

STOCKHOLDERS' EQUITY:	12 Months Ended
	Dec. 31, 2022
STOCKHOLDERS' EQUITY:
STOCKHOLDERS' EQUITY:	NOTE 14—STOCKHOLDERS’ EQUITY ​ Treasury Stock: ​ Activity in treasury stock in the years 2022 and 2021 was as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Southern Copper common shares ​ ​ ​ ​ ​ ​ Balance as of January 1, ​ $ 2,767.2 ​ $ 2,767.5 Used for corporate purposes ​ (0.3) ​ (0.3) Balance as of December 31, ​ 2,766.9 ​ 2,767.2 ​ ​ ​ ​ ​ ​ ​ Parent Company (Grupo Mexico) common shares ​ ​ ​ ​ ​ ​ Balance as of January 1, ​ 306.8 ​ 296.0 Other activity, including dividend, interest and foreign currency transaction effect ​ 33.9 ​ 10.8 Balance as of December 31, ​ 340.7 ​ 306.8 Treasury stock balance as of December 31, ​ $ 3,107.6 ​ $ 3,074.0 ​ Common Stock: ​ In September 2022, Grupo Mexico, through its wholly owned subsidiary AMC, purchased 350,000 shares of SCC’s Common Stock. With this purchase and the Company’s repurchase of shares of its Common Stock, the indirect ownership of Grupo Mexico increased to 88.92% at December 31, 2022. ​ SCC shares of common stock in treasury: ​ At December 31, 2022 and 2021, treasury stock holds 111,497,617 shares and 111,509,217 shares of SCC’s common stock with a cost of $2,766.9 million and $2,767.2 million, respectively. The shares of SCC’s common stock held in treasury are used for Director’s stock award plans and available for general corporate purposes. ​ SCC share repurchase program: ​ In 2008, the 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 has purchased 119.5 million shares of common stock at a cost of $2.9 billion. 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. ​ There has been no activity in the SCC share repurchase program since the third quarter of 2016. The NYSE closing price of SCC common shares at December 31, 2022 was $60.39 and the maximum number of shares that the Company could purchase at that price was 1.4 million. ​ Grupo Mexico’s direct and indirect ownership remains at 88.9% as of December 31, 2022. ​ Directors’ Stock Award Plan: ​ The Company established a stock award compensation plan for certain directors who are not compensated as employees of the Company. Under this plan, participants received 1,200 shares of common stock upon election and 1,200 additional shares following each annual meeting of stockholders thereafter. 600,000 shares of Southern Copper common stock have been reserved for this plan. On April 26, 2018, the Company’s stockholders approved a five-year extension of the Plan until January 28, 2023 and an increase of the shares award from 1,200 to 1,600. The fair value of the award is measured each year at the date of the grant. Commencing with the 2021 grant, the 1,600 shares shall be granted quarterly and conditioned upon the attendance of each director to each Board meeting. On May 27, 2022, the Company’s stockholders approved a five-year extension of the Plan until January 27, 2028. The award is not subject to vesting requirements. The stock-based compensation expense under this plan equaled $0.3 million for both years 2022 and 2021. ​ The activity of this plan for the years ended December 31, 2022 and 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ 2022 2021 Total SCC shares reserved for the plan 600,000 600,000 Total shares granted at January 1, (405,200) (391,600) Granted in the period (11,600) (13,600) Total shares granted at December 31, (416,800) (405,200) Remaining shares reserved 183,200 194,800 ​ Parent Company common shares: ​ At December 31, 2022 and 2021, there were in treasury 74,367,673 and 79,800,655 of Grupo Mexico’s common shares, respectively. ​ ​ Employee Stock Purchase Plan: ​ 2015 Plan: 1 ​ 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 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 years ended December 31, 2022, 2021 and 2020 and the unrecognized compensation expense under this plan were as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Stock based compensation expense ​ $ 0.6 ​ $ 0.6 ​ $ 0.6 Unrecognized compensation expense ​ $ 0.2 ​ $ 0.8 ​ $ 1.4 ​ The following table presents the stock award activity of this plan for the years ended December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ Unit Weighted Average ​ ​ Shares ​ Grant Date Fair Value Outstanding shares at January 1, 2022 867,234 ​ $ 2.63 Granted — ​ — Exercised (21,339) ​ $ 2.63 Forfeited — ​ — Outstanding shares at December 31, 2022 845,895 ​ $ 2.63 Outstanding shares at January 1, 2021 1,264,410 ​ $ 2.63 Granted — ​ — Exercised (397,176) ​ $ 2.63 Forfeited — ​ — Outstanding shares at December 31, 2021 867,234 ​ $ 2.63 ​ 2018 Plan: 1 ​ 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 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 years ended December 31, 2022, 2021 and 2020 and the unrecognized compensation expense under this plan were as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ 2020 Stock based compensation expense ​ $ 0.7 $ 0.7 $ 0.7 Unrecognized compensation expense ​ $ 2.4 $ 3.1 $ 3.8 ​ The following table presents the stock award activity of this plan for the years ended December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unit Weighted Average ​ Shares ​ Grant Date Fair Value Outstanding shares at January 1, 2022 3,173,924 ​ $ 1.86 Granted — ​ ​ — Exercised (419,418) ​ $ 1.86 Forfeited — ​ — Outstanding shares at December 31, 2022 2,754,506 ​ $ 1.86 Outstanding shares at January 1, 2021 ​ 3,918,458 ​ $ 1.86 Granted ​ — ​ ​ — Exercised ​ (744,534) ​ $ 1.86 Forfeited ​ — ​ — Outstanding shares at December 31, 2021 3,173,924 ​ $ 1.86 ​ Executive Stock Purchase Plan: ​ Grupo Mexico also offers a stock purchase plan for certain members of its executive management and the executive management of its subsidiaries and certain affiliated companies. Under this plan, participants will receive incentive cash bonuses which are used to purchase shares of Grupo Mexico which are deposited in a trust. ​ Non-controlling interest: ​ For all the years presented, in the consolidated statement of earnings the income attributable to non-controlling interest is based on the earnings of the Company's Peruvian Branch. ​ The non-controlling interest of the Company’s Peruvian Branch is for investment shares. These shares were generated by legislation in place in Peru from the 1970s through 1991; such legislation provided for the participation of mining workers in the profits of the enterprises for which they worked. This participation was divided between equity and cash. The investment shares included in the non-controlling interest on the consolidated balance sheets reflect outstanding equity distributions made to the Peruvian Branch’s employees. ​ In prior years, the Company acquired some Peruvian investment shares in exchange for newly issued common shares of the Company and through purchases at market value. These acquisitions were accounted for as purchases of non- controlling interests. The excess paid over the carrying value was assigned to intangible assets and is being amortized based on production. As a result of these acquisitions, the remaining investment shareholders hold a 0.71% interest in the Peruvian Branch and are entitled to a pro rata participation in the cash distributions made by the Peruvian Branch. The shares are recorded as a non-controlling interest in the Company's financial statements.

DERIVATIVE INSTRUMENTS_

DERIVATIVE INSTRUMENTS:	12 Months Ended
	Dec. 31, 2022
DERIVATIVE INSTRUMENTS:
DERIVATIVE INSTRUMENTS:	NOTE 15 – DERIVATIVE INSTRUMENTS: ​ From time to time, the Company uses derivative instruments to manage its cash flows exposure to changes in commodity prices. The Company does not enter into derivative contracts unless it anticipates that the possibility exists that future activity will expose the Company’s future cash flows to deterioration. Derivative contracts for commodities are entered into to manage the price risk associated with forecasted purchases of the commodities that the Company uses in its manufacturing process. ​ Cash Flow Hedges of Natural Gas ​ The Company’s objective in using natural gas derivatives is to protect the stability of natural gas costs and manage exposure to natural gas price increases. To protect natural gas costs from estimated price increases in the past winter season, in the third quarter of 2021, the Company acquired two derivative instruments that began in November 2021 and end in March 2022. ​ The Company assessed these derivative instruments as Cash Flow Hedges. As such, the effective portions of said hedges were initially reported in Other Comprehensive Income (OCI) and were reclassified as earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings. The Company did not identify any ineffective portions of these derivatives. ​ As of December 31, 2022, the Company held no derivative instruments.

FAIR VALUE MEASUREMENT_

FAIR VALUE MEASUREMENT:	12 Months Ended
	Dec. 31, 2022
FAIR VALUE MEASUREMENT:
FAIR VALUE MEASUREMENT:	NOTE 16—FAIR VALUE MEASUREMENT: ​ 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 consolidated balance sheet as of December 31, 2022 and December 31, 2020 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 ​ At December 31, 2021 ​ Carrying Value Fair Value Carrying Value Fair Value Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt level 1 ​ $ 6,200.0 ​ $ 6,372.6 ​ $ 6,496.4 ​ $ 8,506.0 Long-term debt level 2 ​ ​ 51.2 ​ ​ 54.2 ​ ​ 51.2 ​ ​ 67.2 Total long-term debt ​ $ 6,251.2 ​ $ 6,426.8 ​ $ 6,547.6 ​ $ 8,573.2 ​ 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, 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 of December 31, 2022 and 2021, as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at Measurement Date Using: ​ ​ ​ ​ ​ Significant ​ ​ ​ ​ Fair Value ​ Quoted prices in ​ other ​ Significant ​ ​ as of ​ active markets for ​ observable ​ unobservable ​ ​ December 31, ​ identical assets ​ inputs ​ inputs Description ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short term investment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ $ 208.0 ​ $ 208.0 ​ $ — ​ $ — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset backed securities ​ 0.1 ​ ​ — ​ ​ 0.1 ​ ​ — Mortgage backed securities ​ 0.2 ​ ​ — ​ ​ 0.2 ​ ​ — Accounts receivable: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Provisionally priced sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Copper ​ 1,052.0 ​ 1,052.0 ​ ​ — ​ ​ — Molybdenum ​ 456.9 ​ 456.9 ​ — ​ ​ — Total ​ $ 1,717.2 ​ $ 1,716.9 ​ $ 0.3 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at Measurement Date Using: ​ ​ ​ ​ ​ Significant ​ ​ ​ ​ Fair Value ​ Quoted prices in ​ other ​ Significant ​ ​ as of ​ active markets for ​ observable ​ unobservable ​ ​ December 31, ​ identical assets ​ inputs ​ inputs Description ​ 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short term investment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ $ 486.5 ​ $ 486.5 ​ $ — ​ $ — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate bonds ​ — ​ ​ — ​ ​ — ​ ​ — Asset backed securities ​ 0.2 ​ ​ — ​ ​ 0.2 ​ ​ — Mortgage backed securities ​ 0.2 ​ ​ — ​ ​ 0.2 ​ ​ — Accounts receivable: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Provisionally priced sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Copper ​ 876.2 ​ 876.2 ​ ​ — ​ ​ — Molybdenum ​ 288.3 ​ 288.3 ​ — ​ ​ — Total ​ $ 1,651.4 ​ $ 1,651.0 ​ $ 0.4 ​ $ — ​ 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. ​ In addition, in the third quarter of 2021, the Company acquired two derivative instruments to protect natural gas costs from estimated price increases in the past winter season. These derivative instruments covered the period from November 2021 through March 2022. For further information please refer to Note 15 “Derivative instruments.”

CONCENTRATION OF RISK

CONCENTRATION OF RISK	12 Months Ended
	Dec. 31, 2022
CONCENTRATION OF RISK:
CONCENTRATION OF RISK:	NOTE 17—CONCENTRATION OF RISK: ​ The Company operates four open-pit copper mines, five underground poly-metallic mines, two smelters and nine refineries in Peru and Mexico and substantially all of its assets are located in these countries. No assurances can be made that any operations and assets of the Company that are subject to the jurisdiction of the governments of Peru and Mexico will not be adversely affected by future actions of such governments. Much of the Company’s products are exported from Peru and Mexico to customers principally in the United States, Europe, Asia and South America. ​ Financial instruments, which potentially subject the Company to a concentration of credit risk, consist primarily of cash and cash equivalents, short-term investments and trade accounts receivable. The Company invests or maintains available cash with various banks, principally in the United States, Mexico, Europe and Peru, or in commercial papers of highly-rated companies. As part of its cash management process, the Company regularly monitors the relative credit standing of these institutions. At December 31, 2022, SCC had invested its cash and cash equivalents and short-term investments as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ in ​ % of total ​ % in one institution Country million cash (1) of country of total cash United States ​ $ 1,903.8 83.6 % 12.4 % 10.3 % Switzerland ​ ​ 227.2 ​ 10.0 % 100.0 % 10.0 % Peru ​ 41.6 1.8 % 75.1 % 1.4 % Mexico ​ 105.4 4.6 % 56.4 % 2.6 % Total cash and short-term investment ​ $ 2,278.0 100.0 % ​ ​ ​ ​ (1) 96.4% of the Company’s cash is in U.S. dollars. ​ During the normal course of business, the Company provides credit to its customers. Although the receivables resulting from these transactions are not collateralized, the Company has not experienced significant problems with the collection of receivables. ​ The Company’s largest customers as percentage of accounts receivable and total sales were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Accounts receivable trade as of December 31, ​ ​ ​ ​ ​ ​ ​ Five largest customers 34.2 % 31.3 % 35.3 % Largest customer 10.4 % 11.8 % 12.9 % ​ ​ ​ ​ ​ ​ ​ ​ Total sales in year ​ ​ ​ ​ ​ ​ ​ Five largest customers 25.7 % 25.0 % 28.1 % Largest customer 6.8 % 7.2 % 10.0 % ​

RELATED PARTY TRANSACTIONS_

RELATED PARTY TRANSACTIONS:	12 Months Ended
	Dec. 31, 2022
RELATED PARTY TRANSACTIONS:
RELATED PARTY TRANSACTIONS:	​ NOTE 18—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 and railroad transportation, construction services, energy supply, and other 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. Article Nine of the Amended and Restated Certificate of Incorporation of the Company prohibits the Company from engaging in a Material Affiliate Transaction that was not the subject of prior review by a committee of the Board of Directors with at least three members, each of whom is independent, and defines a Material Affiliate Transaction as a transaction or series of related transactions between Grupo Mexico or one of its affiliates (other than the Company or its subsidiaries), on the one hand, and the Company or one of its subsidiaries, on the other hand, that involves consideration of more than $10.0 million in the aggregate. It is the Company’s policy that (i) a Material Affiliate Transaction not be entered into or continued without the review and approval by the Audit Committee or its subcommittee of related party transactions comprised of independent directors,(ii) any potential related party transaction process with aggregate consideration between $8.0 million and $10.0 million be authorized by the General Counsel and Chief Financial Officer of the Company and (iii) all related party transactions, including any Material Affiliate Transaction, be reported to the Audit Committee of the Board of Directors or to its subcommittee of related party transactions. ​ Receivable and payable balances with related parties are shown below (in millions): ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ 2022 2021 Related parties receivable current: ​ ​ ​ ​ ​ Grupo Mexico and affiliates: ​ ​ ​ ​ ​ Asarco LLC $ 9.2 ​ $ 10.0 Americas Mining Corporation (“AMC”) ​ — ​ ​ 0.1 AMMINCO Apoyo Administrativo, S.A. de C.V. (“AMMINCO”) ​ (*) ​ ​ — Compania Perforadora Mexico S.A.P.I. de C.V. and affiliates 0.3 ​ 0.3 Mexico Generadora de Energia S. de R.L. ("MGE") ​ 23.4 ​ ​ 38.4 Grupo Mexico Servicios de Ingenieria, S.A. de C.V. ​ 0.2 ​ ​ 0.2 ​ ​ ​ ​ ​ ​ Related to the controlling group: ​ ​ ​ ​ ​ Boutique Bowling de Mexico S.A. de C.V. ​ 0.1 ​ ​ 0.1 Operadora de Cinemas S.A. de C.V. ​ 0.1 ​ ​ (*) ​ $ 33.3 ​ $ 49.1 ​ ​ ​ ​ ​ ​ Related parties payable: ​ ​ ​ ​ ​ Grupo Mexico and affiliates: ​ ​ ​ ​ ​ AMMINCO $ 5.0 ​ $ 9.5 Asarco LLC ​ 23.8 ​ ​ 14.9 Eolica El Retiro, S.A.P.I. de C.V. 0.4 ​ 2.7 Ferrocarril Mexicano S.A. de C.V. 5.6 ​ 4.0 Grupo Mexico Servicios ​ 20.2 ​ ​ 11.1 MGE ​ 57.5 ​ ​ 57.2 Mexico Compania Constructora S.A de C.V. ​ 5.9 ​ ​ 2.0 Grupo Mexico Servicios de Ingenieria, S.A. de C.V. ​ 1.2 ​ ​ 0.9 Related to the controlling group: ​ ​ ​ ​ ​ Boutique Bowling de Mexico S.A. de C.V. 0.3 ​ 0.3 Mexico Transportes Aereos S.A. de C.V. (“Mextransport”) 0.1 ​ 0.5 Operadora de Cinemas S.A. de C.V. ​ 0.2 ​ ​ 0.2 ​ $ 120.2 ​ $ 103.3 (*) Less than $0.1 million. ​ Purchase and sale activity: ​ Grupo Mexico and affiliates: ​ The following table summarizes the purchase and sale activities with Grupo Mexico and its affiliates in 2022, 2021 and 2020 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Purchase activity ​ ​ ​ ​ ​ ​ ​ ​ ​ Asarco LLC ​ $ 66.3 ​ $ 31.3 ​ $ 233.9 AMMINCO ​ ​ 10.0 ​ ​ 8.9 ​ ​ 18.6 Controladora de Infraestructura Energetica S.A. de C.V ​ ​ 0.8 ​ ​ — ​ ​ — Eolica El Retiro, S.A.P.I. de C.V. ​ 3.0 ​ 9.3 ​ 1.0 Ferrocarril Mexicano, S.A. de C.V. ​ 42.9 ​ 41.8 ​ 45.8 Grupo Mexico ​ ​ — ​ ​ — ​ ​ 10.0 Grupo Mexico Servicios ​ ​ 20.1 ​ ​ 20.1 ​ ​ — Intermodal Mexico S.A. de C.V. ​ ​ — ​ ​ 0.5 ​ ​ — MGE ​ 331.0 ​ 287.3 ​ 213.3 Mexico Compania Constructora S.A de C.V. ​ ​ 43.8 ​ ​ 44.5 ​ ​ 42.6 Grupo Mexico Servicios de Ingenieria, S.A. de C.V. ​ ​ 16.7 ​ ​ 10.3 ​ ​ 11.1 Peru Mining Exploration & Development Company ​ ​ — ​ ​ 0.4 ​ ​ — Total purchases ​ $ 534.6 ​ $ 454.4 ​ $ 576.3 Sales activity ​ ​ ​ ​ ​ ​ ​ ​ ​ Asarco LLC ​ $ 48.0 ​ $ 33.4 ​ $ 77.9 AMMINCO ​ ​ (*) ​ ​ 0.1 ​ ​ 0.1 AMC ​ ​ — ​ ​ 0.1 ​ ​ — MGE ​ ​ 165.0 ​ ​ 126.9 ​ ​ 54.9 Total sales ​ $ 213.0 ​ $ 160.5 ​ $ 132.9 (*) Less than $0.1 million ​ 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 AMMINCO and Grupo Mexico Servicios, both subsidiaries of Grupo Mexico, for these services and expects to continue requiring these services in the future. ​ In 2022, 2021 and 2020, the Company donated $3.5 million, $0.9 million and $7.1 million, respectively, to Fundacion Grupo Mexico, A.C., an organization dedicated to promote the social and economic development of the communities close to the Company’s Mexican operations. ​ The Company’s Mexican operations paid fees for freight services provided by Ferrocarril Mexicano, S.A de C.V. and, in 2021, for construction services provided by Intermodal Mexico, S.A. de C.V., which are all subsidiaries of Grupo Mexico. Additionally, the Company´s Mexican operations paid fees for specialized technical and environmental services to obtain the energy license for El Arco project provided by Controladora de Infraestructura Energetica S.A. de C.V., a subsidiary of Infraestructura y Transportes Mexico S.A. de C.V., which is a subsidiary of Grupo Mexico. ​ In addition, the Company´s Peruvian and Mexican operations paid fees for engineering services provided by Grupo Mexico Servicios de Ingenieria, S.A. de C.V., and the Company’s Mexican operations paid fees for construction services provided by Mexico Compania Constructora S.A. de C.V. Both companies are subsidiaries of Mexico Proyectos y Desarrollos, S.A. de C.V., which is a subsidiary of Grupo Mexico. ​ In addition, in 2021, the Company’s Peruvian operations purchased three mining concessions from Peru Mining Exploration & Development Company, a subsidiary of Grupo Mexico. ​ The Company’s Mexican operations purchased copper concentrates and rod from Asarco LLC and also paid fees for tolling services. Additionally, the Company´s Mexican operations purchased power from MGE. Both companies are subsidiaries of Grupo Mexico. ​ 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 has two natural gas-fired combined cycle power generating units, with a net total capacity of 516.2 megawatts and has been supplying power to the Company since December 2013. Currently, MGE is supplying 1.4% of its power output to third-party energy users; compared to 2.0% at December 31, 2021. ​ In 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, a windfarm with 37 wind turbines. This company started operations in January 2014 and began to sell power to Industrial Minera Mexico, S.A. de C.V. and subsidiaries (IMMSA) and other subsidiaries of Grupo Mexico in the third quarter of 2014. Currently, Eolica el Retiro is supplying approximately 27% of its power output to IMMSA and Mexcobre; compared to 61.0% at December 31, 2021. ​ The Company sold starter sheets, rod, sulfuric acid and lime to Asarco LLC. In addition, the Company´s Mexican operations received rental fees from AMMINCO. ​ In September 2019, Asarco LLC signed a promissory agreement to pay to the Company´s Mexican operations $62.0 million plus interest no later than October 31, 2021, with quarterly payments of $0.5 million. The annual interest rate of the note was Libor plus 200 basis points, which would be reviewed annually. In November 2020, Asarco repaid this agreement. Related to this agreement, the Company recorded interest income of $2.2 million in 2020. ​ The Company also received fees for natural gas and services provided to MGE, a subsidiary of Grupo Mexico. In May 2020, MGE signed a promissory note to pay to the Company´s Mexican operations 97.2 million Mexican pesos (approximately $5.1 million) plus interest. The annual interest rate of the note was 8.28% with monthly payments. MGE repaid this note in December 2020. ​ Companies with relationships with the controlling group: ​ The following table summarizes the purchase and sales activities with other Larrea family companies in 2022, 2021 and 2020 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Purchase activity ​ ​ ​ ​ ​ ​ ​ ​ ​ Boutique Bowling de Mexico S.A. de C.V. ​ $ 0.4 ​ $ 0.3 ​ $ 0.4 Mextransport ​ ​ 2.1 ​ ​ 1.8 ​ ​ 3.5 Operadora de Cinemas S.A. de C.V. ​ ​ 0.2 ​ ​ 0.4 ​ ​ 0.2 Total purchases ​ $ 2.7 ​ $ 2.5 ​ $ 4.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales activity ​ ​ ​ ​ ​ ​ ​ ​ ​ Boutique Bowling de Mexico S.A. de C.V. ​ $ 0.1 ​ $ 0.1 ​ $ 0.1 Mextransport ​ ​ 1.9 ​ ​ 1.8 ​ ​ 1.7 Operadora de Cinemas S.A. de C.V. ​ ​ 0.1 ​ ​ 0.1 ​ ​ 0.1 Total sales ​ $ 2.1 ​ $ 2.0 ​ $ 1.9 ​ The Larrea family controls a majority of the capital stock of Grupo Mexico, and has extensive interests in other businesses, including transportation, real estate and entertainment. The Company engages in certain transactions in the ordinary course of business with other entities controlled by the Larrea family relating to the lease of office space, air transportation and entertainment. ​ The Company’s Mexican operations paid fees for entertainment services provided by Boutique Bowling de Mexico S.A de C.V. and Operadora de Cinemas S.A. de C.V. Both companies are controlled by the Larrea family. MexTransport provides aviation services to the Company’s Mexican operations. This is a company controlled by the Larrea family. In addition, the Company received fees for building rental and maintenance services provided to Boutique Bowling de Mexico S.A de C.V. and Operadora de Cinemas S.A. de C.V. The Company´s Mexican operations received fees from Mextransport for reimbursement of maintenance expenses and for rental services. ​ Equity Investment in Affiliate: ​ In addition, the Company has a 30.0% participation in Apu Coropuna S.R.L. (“Apu Coropuna”), which it accounts for on the equity method. Apu Coropuna is a company, which undertakes exploration activities in the Pucay prospect, located in Arequipa, Peru. ​ It is anticipated that in the future the Company will enter into similar transactions with these same parties. ​

SEGMENT AND RELATED INFORMATION

SEGMENT AND RELATED INFORMATION:	12 Months Ended
	Dec. 31, 2022
SEGMENT AND RELATED INFORMATION:
SEGMENT AND RELATED INFORMATION:	NOTE 19—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. ​ Intersegment sales are based on arm’s length prices at the time of sale. These may not be reflective of actual prices realized by the Company due to various factors, including additional processing, timing of sales to outside customers and transportation cost. Added to the segment data is information regarding the Company’s sales. The segments identified by the Company are: ​ 1. Peruvian operations, which include the Toquepala and Cuajone mine complexes and the smelting and refining plants, including a precious metals plant, industrial railroad and port facilities that service both mines. The Peruvian operations produce copper, with production of by-products of molybdenum, silver and other material. ​ 2. Mexican open-pit operations, which include La Caridad and Buenavista mine complexes and the smelting and refining plants, including a precious metals plant and a copper rod plant and support facilities that service both mines. The Mexican open-pit operations produce copper, with production of by-products of molybdenum, silver and other material. ​ 3. Mexican underground mining operations, which include five underground mines that produce zinc, copper, silver and gold, and a zinc refinery. This group is identified as the IMMSA unit. ​ The Peruvian operations include two open-pit copper mines whose mineral output is transported by rail to Ilo, Peru where it is processed at the Company’s Ilo smelter and refinery, without distinguishing between the products of the two mines. The resulting product, anodes and refined copper, are then shipped to customers throughout the world. These shipments are recorded as revenue of the Company’s Peruvian mines. ​ The Mexican open-pit segment includes two copper mines whose mineral output is processed in the same smelter and refinery without distinguishing between the products of the two mines. The resultant product, anodes and refined copper, are then shipped to customers throughout the world. These shipments are recorded as revenues of the Company’s Mexican open-pit mines. ​ The Company has determined that it is necessary to classify the Peruvian open-pit operations as an operating segment that is separate from the Mexican open-pit operations due to the very distinct regulatory and political environments in which they operate. The Company’s Chief Operating Decision Maker (“CODM”) must consider the operations in each country separately when analyzing results of the Company and making key decisions. The open-pit mines in Peru must comply with stricter environmental rules and must deal with a political climate that has a very distinct vision of the mining industry than that seen in Mexico. In addition, the collective bargaining agreement contracts are negotiated differently in each of the countries. These key differences result in the Company taking varying decisions with regard to open-pit operations in the two countries. ​ The IMMSA segment includes five mines whose minerals are processed in the same refinery. Sales of product from this segment are recorded as revenues of the Company’s IMMSA unit. While the Mexican underground mines are subject to a regulatory environment that is very similar to that applicable to Mexican open-pit mines, the nature of the products and processes of the two Mexican operations vary considerably. These differences cause the Company’s CODM to take a very different approach when analyzing results and making decisions regarding the two Mexican operations. ​ Financial information is regularly prepared for each of the three segments and the results of the Company’s operations are regularly reported to the CODM on the segment basis. The CODM of the Company focuses 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 Company’s segments is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2022 ​ ​ (in millions) ​ ​ Mexican ​ ​ Corporate, other ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ and ​ ​ ​ ​ ​ Open-pit ​ Unit ​ Operations ​ eliminations ​ Consolidated Net sales outside of segments ​ $ 5,610.9 ​ $ 528.5 ​ $ 3,908.5 ​ $ — ​ $ 10,047.9 Intersegment sales ​ 161.7 ​ ​ 138.0 ​ — ​ (299.7) ​ — Cost of sales (exclusive of depreciation, amortization and depletion) ​ 2,371.9 ​ 532.8 ​ 2,061.3 ​ (316.9) ​ 4,649.1 Selling, general and administrative ​ 65.9 ​ 10.2 ​ 39.2 ​ 9.7 ​ 125.0 Depreciation, amortization and depletion ​ 377.0 ​ 57.6 ​ 321.7 ​ 40.0 ​ 796.3 Exploration ​ 3.1 ​ 5.4 ​ 18.5 ​ 14.7 ​ 41.7 Operating income ​ $ 2,954.7 ​ $ 60.6 ​ $ 1,467.8 ​ $ (47.3) ​ ​ 4,435.8 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (305.1) Other income (expense) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 117.1 Income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,596.1) Equity earnings of affiliate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3.7) Non-controlling interest ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (9.5) Net income attributable to SCC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 2,638.5 Capital investment ​ $ 422.7 ​ $ 161.8 ​ $ 355.0 ​ $ 9.0 ​ $ 948.5 Property and mine development, net ​ $ 4,512.6 ​ $ 678.5 ​ $ 3,659.3 ​ $ 746.2 ​ $ 9,596.6 Total assets ​ $ 8,835.9 ​ $ 1,100.7 ​ $ 4,870.8 ​ $ 2,470.0 ​ $ 17,277.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ ​ (in millions) ​ ​ Mexican ​ ​ Corporate, other ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ and ​ ​ ​ ​ Open-pit ​ Unit ​ Operations ​ eliminations ​ Consolidated Net sales outside of segments ​ $ 6,109.0 ​ $ 454.3 ​ $ 4,370.8 ​ $ — ​ $ 10,934.1 Intersegment sales ​ — ​ ​ 145.9 ​ — ​ (145.9) ​ — Cost of sales (exclusive of depreciation, amortization and depletion) ​ 1,953.5 ​ 440.9 ​ 1,662.0 ​ (162.0) ​ 3,894.4 Selling, general and administrative ​ 62.8 ​ 10.0 ​ 40.1 ​ 12.3 ​ 125.2 Depreciation, amortization and depletion ​ 392.6 ​ 54.8 ​ 321.0 ​ 37.6 ​ 806.0 Exploration ​ 2.3 ​ 5.7 ​ 14.5 ​ 20.9 ​ 43.4 Operating income ​ $ 3,697.8 ​ $ 88.8 ​ $ 2,333.2 ​ $ (54.7) ​ ​ 6,065.1 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (349.9) Other income (expense) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (18.4) Income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,299.2) Equity earnings of affiliate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13.6 Non-controlling interest ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (14.1) Net income attributable to SCC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 3,397.1 Capital investment ​ $ 463.6 ​ $ 98.3 ​ $ 320.9 ​ $ 9.5 ​ $ 892.3 Property and mine development, net ​ $ 4,463.2 ​ $ 571.0 ​ $ 3,707.3 ​ $ 722.9 ​ $ 9,464.4 Total assets ​ $ 8,559.8 ​ $ 998.2 ​ $ 4,932.7 ​ $ 3,806.9 ​ $ 18,297.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ ​ (in millions) ​ ​ Mexican ​ ​ Corporate, other ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ and ​ ​ ​ ​ Open-pit ​ Unit ​ Operations ​ eliminations ​ Consolidated Net sales outside of segments ​ $ 4,412.4 ​ $ 418.9 ​ $ 3,153.6 ​ $ — ​ $ 7,984.9 Intersegment sales ​ ​ ​ ​ ​ 111.0 ​ ​ ​ (111.0) ​ — Cost of sales (exclusive of depreciation, amortization and depletion) ​ 1,991.6 ​ 383.0 ​ 1,679.5 ​ (124.3) ​ 3,929.8 Selling, general and administrative ​ 70.5 ​ 9.5 ​ 37.6 ​ 8.6 ​ 126.2 Depreciation, amortization and depletion ​ 366.7 ​ 42.5 ​ 328.7 ​ 37.7 ​ 775.6 Exploration ​ ​ 2.5 ​ 8.6 ​ 9.4 ​ 12.1 ​ 32.6 Operating income ​ $ 1,981.1 ​ $ 86.3 ​ $ 1,098.4 ​ $ (45.1) ​ ​ 3,120.7 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (347.4) Other income (expense) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (27.5) Income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,174.4) Equity earnings of affiliate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.4 Non-controlling interest ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7.4) Net income attributable to SCC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,570.4 Capital investment ​ $ 317.1 ​ $ 72.1 ​ $ 195.0 ​ $ 8.0 ​ $ 592.2 Property and mine development, net ​ $ 4,470.5 ​ $ 548.2 ​ $ 3,735.1 ​ $ 704.9 ​ $ 9,458.7 Total assets ​ $ 7,236.1 ​ $ 967.2 ​ $ 5,169.9 ​ $ 3,573.3 ​ $ 16,946.5 ​ ​ The following table presents information regarding the opening and closing balances of receivables by reporting segment of the Company for the two years ended December 31, 2022 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican IMMSA Peruvian Corporate & ​ ​ ​ ​ Open-Pit ​ Unit ​ Operations ​ Elimination ​ Consolidated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022: ​ ​ ​ ​ ​ Trade receivables ​ $ 788.1 ​ $ 60.0 ​ $ 546.0 ​ $ — ​ $ 1,394.1 Related parties, current ​ 31.1 ​ 0.1 ​ 0.1 ​ 2.0 ​ 33.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021: ​ ​ ​ ​ ​ Trade receivables ​ $ 656.0 ​ $ 51.2 ​ $ 651.5 ​ $ — ​ $ 1,358.7 Related parties, current ​ ​ 46.9 ​ 0.2 ​ — ​ 2.0 ​ ​ 49.1 ​ SALES VALUE PER SEGMENT: ​ The following table presents information regarding the sales value by reporting segment of the Company’s significant products for the three years ended December 31, 2022 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2022 ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ Mexican IMMSA Peruvian Corporate, Other & Total ​ ​ Open-pit ​ Unit ​ Operations ​ Eliminations ​ Consolidated Copper ​ $ 4,579.2 ​ $ 83.6 ​ $ 3,096.0 ​ $ (220.0) ​ $ 7,538.8 Molybdenum ​ 705.3 ​ — ​ 487.4 ​ — ​ 1,192.7 Zinc ​ — ​ 373.8 ​ — ​ 0.4 ​ 374.2 Silver ​ 241.9 ​ 133.8 ​ 95.3 ​ (68.4) ​ 402.6 Other ​ 246.3 ​ 75.3 ​ 229.8 ​ (11.7) ​ 539.7 Total ​ $ 5,772.6 ​ $ 666.5 ​ $ 3,908.5 ​ $ (299.7) ​ $ 10,047.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ Mexican IMMSA Peruvian Corporate, Other & Total ​ ​ Open-pit ​ Unit ​ Operations ​ Eliminations ​ Consolidated Copper ​ $ 5,182.1 ​ $ 94.9 ​ $ 3,625.4 ​ $ (74.1) ​ $ 8,828.3 Molybdenum ​ 538.4 ​ — ​ 514.7 ​ — ​ 1,053.1 Zinc ​ — ​ 289.0 ​ — ​ 0.5 ​ 289.5 Silver ​ 252.8 ​ 152.7 ​ 133.0 ​ (64.1) ​ 474.4 Other ​ 135.7 ​ 63.6 ​ 97.7 ​ (8.2) ​ 288.8 Total ​ $ 6,109.0 ​ $ 600.2 ​ $ 4,370.8 ​ $ (145.9) ​ $ 10,934.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ ​ ​ ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ Mexican IMMSA Peruvian Corporate, Other & Total (in millions) ​ Open-pit ​ Unit ​ Operations ​ Eliminations ​ Consolidated Copper ​ $ 3,762.1 ​ $ 72.1 ​ $ 2,727.3 ​ $ (48.4) ​ $ 6,513.1 Molybdenum ​ 275.2 ​ — ​ 235.1 ​ — ​ 510.3 Zinc ​ — ​ 247.8 ​ — ​ 1.6 ​ 249.4 Silver ​ 235.5 ​ 155.8 ​ 112.0 ​ (55.5) ​ 447.8 Other ​ 139.6 ​ 54.2 ​ 79.2 ​ (8.7) ​ 264.3 Total ​ $ 4,412.4 ​ $ 529.9 ​ $ 3,153.6 ​ $ (111.0) ​ $ 7,984.9 ​ NET SALES AND GEOGRAPHICAL INFORMATION: ​ The geographic breakdown of the Company’s sales for the three years ended December 31, 2022 was as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2022 ​ ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ Corporate & ​ ​ ​ ​ Open-Pit Unit Operations Elimination Consolidated The Americas: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico ​ $ 1,962.0 ​ $ 464.7 ​ $ — ​ $ (138.0) ​ $ 2,288.7 United States ​ 1,486.2 ​ 54.0 ​ 370.2 ​ ​ ​ 1,910.4 Peru ​ 162.2 ​ — ​ 614.5 ​ (161.7) ​ 615.0 Brazil ​ — ​ 41.3 ​ 410.7 ​ ​ ​ 452.0 Chile ​ 19.9 ​ — ​ 424.6 ​ ​ ​ 444.5 Other American countries ​ 35.4 ​ 2.6 ​ 27.7 ​ ​ ​ 65.7 Europe: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Switzerland ​ 693.7 ​ 44.6 ​ 739.5 ​ ​ ​ 1,477.8 Italy ​ 2.1 ​ 19.3 ​ 240.0 ​ ​ ​ 261.4 Spain ​ 420.7 ​ — ​ 37.5 ​ ​ ​ 458.2 Other European countries ​ 124.3 ​ 31.1 ​ 207.4 ​ ​ ​ 362.8 Asia: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ China ​ ​ 517.6 ​ ​ — ​ ​ 54.9 ​ ​ ​ ​ ​ 572.5 Singapore ​ 103.9 ​ 8.4 ​ 176.1 ​ ​ ​ 288.4 Japan ​ 88.0 ​ — ​ 528.2 ​ ​ ​ 616.2 Other Asian countries ​ 156.6 ​ 0.5 ​ 77.2 ​ ​ ​ 234.3 Total ​ $ 5,772.6 ​ $ 666.5 ​ $ 3,908.5 ​ $ (299.7) ​ $ 10,047.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ ​ ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ Corporate & ​ ​ ​ ​ Open-Pit Unit Operations Elimination Consolidated The Americas: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico ​ $ 1,893.3 ​ $ 387.6 ​ $ 5.0 ​ $ (145.9) ​ $ 2,140.0 United States ​ 1,648.1 ​ 52.3 ​ 233.1 ​ — ​ ​ 1,933.5 Peru ​ — ​ (0.3) ​ 586.6 ​ — ​ ​ 586.3 Brazil ​ — ​ 30.7 ​ 406.4 ​ — ​ ​ 437.1 Chile ​ 3.3 ​ — ​ 381.2 ​ — ​ ​ 384.5 Other American countries ​ 31.3 ​ 0.7 ​ 10.7 ​ — ​ ​ 42.7 Europe: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Switzerland ​ ​ 1,097.2 ​ 55.1 ​ 544.7 ​ — ​ ​ 1,697.0 Italy ​ ​ 0.7 ​ 8.8 ​ 298.3 ​ — ​ ​ 307.8 Spain ​ ​ 410.2 ​ — ​ 91.8 ​ — ​ ​ 502.0 Other European countries ​ ​ 275.8 ​ 45.5 ​ 410.9 ​ — ​ ​ 732.2 Asia: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ China ​ ​ 189.7 ​ ​ — ​ ​ 25.0 ​ ​ — ​ ​ 214.7 Singapore ​ ​ 441.9 ​ 19.4 ​ 496.5 ​ — ​ ​ 957.8 Japan ​ ​ 23.6 ​ — ​ 605.5 ​ — ​ ​ 629.1 Other Asian countries ​ ​ 93.9 ​ 0.4 ​ 275.1 ​ — ​ ​ 369.4 Total ​ $ 6,109.0 ​ $ 600.2 ​ $ 4,370.8 ​ $ (145.9) ​ $ 10,934.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ ​ ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ Corporate & ​ ​ ​ ​ Open-Pit Unit Operations Elimination Consolidated The Americas: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico ​ $ 1,296.6 ​ $ 341.1 ​ $ — ​ $ (111.0) ​ $ 1,526.7 United States ​ 1,182.8 ​ 27.2 ​ 153.4 ​ — ​ ​ 1,363.4 Peru ​ — ​ 13.0 ​ 322.0 ​ — ​ ​ 335.0 Brazil ​ — ​ 18.7 ​ 214.3 ​ — ​ ​ 233.0 Chile ​ 18.8 ​ — ​ 202.3 ​ — ​ ​ 221.1 Other American countries ​ 36.8 ​ 2.9 ​ 2.7 ​ — ​ ​ 42.4 Europe: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Switzerland ​ ​ 898.2 ​ 69.9 ​ 475.2 ​ — ​ ​ 1,443.3 Italy ​ ​ 0.1 ​ 9.5 ​ 262.0 ​ — ​ ​ 271.6 Spain ​ ​ 199.4 ​ — ​ — ​ — ​ ​ 199.4 Other European countries ​ ​ 199.9 ​ 40.2 ​ 281.6 ​ — ​ ​ 521.7 Asia: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ China ​ ​ 132.6 ​ ​ — ​ ​ 12.9 ​ ​ — ​ ​ 145.5 Singapore ​ ​ 319.9 ​ 6.9 ​ 536.9 ​ — ​ ​ 863.7 Japan ​ ​ 46.9 ​ — ​ 532.6 ​ — ​ ​ 579.5 Other Asian countries ​ ​ 80.4 ​ 0.5 ​ 157.7 ​ — ​ ​ 238.6 Total ​ $ 4,412.4 ​ $ 529.9 ​ $ 3,153.6 ​ $ (111.0) ​ $ 7,984.9 ​ PROVISIONAL SALES PRICE: ​ At December 31, 2022, the Company has recorded provisionally priced sales of copper at average forward prices per pound, and molybdenum at the year-end market price per pound. These sales are subject to final pricing based on the average monthly copper prices on the London Metal Exchange (“LME”) or New York Commodities Exchange (“COMEX”) and Dealer Oxide molybdenum prices in the future month of settlement. ​ Following are the provisionally priced copper and molybdenum sales outstanding at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales volume Priced at ​ ​ ​ (million lbs.) ​ (per pound) ​ Month of settlement Copper ​ 276.5 ​ 3.81 ​ January through June 2023 Molybdenum ​ 14.3 ​ 31.85 ​ January through April 2023 ​ Provisional sales price adjustments included in accounts receivable and net sales were as follows at December, 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ 2022 2021 Copper ​ $ 49.9 ​ $ 1.2 Molybdenum ​ 167.2 ​ (9.0) Total ​ $ 217.1 ​ $ (7.8) ​ 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. ​ LONG-TERM SALES CONTRACTS: ​ The following are the significant outstanding long-term contracts: ​ In 2022, a three-year the years from 2023 through 2025. Failure to reach an agreement on market terms would cancel the annual contract but not the long-term agreement. Under the terms of the agreement all shipments would be to Asia and no exclusivity rights for Mitsui or commissions are included. This contract may be renewed for additional years, upon the agreement of both parties. ​ Under the terms of a sales contract with Molymet Group (Molibdenos y Metales, S.A., Complejo Industrial Molynor S.A. and Molymet Belgium N.V), SPCC Peru Branch is required to supply approximately 70% of the molybdenum concentrates production from 2023 through 2025. The sale price of the molybdenum concentrate is based on the average of the High and Low “Daily Dealer Oxide” as published in “Platt’s Metals Daily”. The roasting charge deduction is agreed based on international market terms. ​ Under the terms of a sales contract with Molymex, S.A. de C.V., Operadora de Minas de Nacozari, S.A. de C.V. and Operadora de Minas e Instalaciones Mineras, S.A. de C. V. are required to supply at least the 80% of their molybdenum concentrates production from 2020 through 2023. The sale price of the molybdenum concentrate is based on the average of the High and Low “Daily Dealer Oxide” as published in “Platt’s Metals Daily.” The roasting charge deduction is negotiated based on international market terms. ​ In 2019, a five-year

SUBSEQUENT EVENTS_

SUBSEQUENT EVENTS:	12 Months Ended
	Dec. 31, 2022
SUBSEQUENT EVENTS:
SUBSEQUENT EVENTS:	NOTE 20—SUBSEQUENT EVENTS: ​ DIVIDENDS: ​ On January 26, 2023, the Board of Directors authorized a dividend of $1.0 per share to be paid ​ ​ ​

Schedule II Valuation and Quali

Schedule II Valuation and Qualifying Accounts and Reserves	12 Months Ended
	Dec. 31, 2022
Schedule II Valuation and Qualifying Accounts and Reserves
Schedule II Valuation and Qualifying Accounts and Reserves	​ Valuation and Qualifying Accounts and Reserves (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions ​ Balance at Charged to ​ ​ ​ ​ ​ ​ beginning of ​ costs and ​ ​ ​ Deduction/ ​ Balance at ​ ​ period ​ expenses ​ Additions ​ Application ​ end of period Reserve deducted in balance sheet to which applicable: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts Receivable: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 $ 8.7 ​ 0.1 ​ — ​ — $ 8.8 2021 $ 8.8 ​ — ​ — ​ (0.1) $ 8.7 2020 $ 0.5 ​ 8.5 ​ — ​ (0.2) $ 8.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notes issued under par: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 $ 65.6 ​ 2.2 ​ ​ ​ ​ $ 63.4 2021 $ 67.6 2.0 — — $ 65.6 2020 $ 69.6 2.0 — — $ 67.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ $ 1,820.0 ​ 233.7 ​ — — ​ $ 2,053.7 2021 ​ $ 1,343.2 ​ 476.8 ​ — — ​ $ 1,820.0 2020 ​ $ 1,097.0 ​ 246.2 ​ — — ​ $ 1,343.2

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Policies)	12 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
Principles of consolidation	Principles of consolidation— ​ The consolidated financial statements include the accounts of subsidiaries of which the Company has voting control, in accordance with Accounting Standards Codification (“ASC”) 810 Consolidation ​
Use of estimates	Use of estimates— ​ The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include the carrying value of mineral reserves that are the basis for future cash flow estimates and amortization calculations; environmental reclamation, closure and retirement obligations; estimates of recoverable copper in mill and leach stockpiles; asset impairments (including estimates of future cash flows); unrecognized tax benefits; valuation allowances for deferred tax assets; and fair value of financial instruments. Management bases its estimates on the Company's historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. ​
Revenue recognition	Revenue recognition— ​ The Company accounts for a contract with a customer when there is a legally enforceable contract between the Company and the customer, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. The Company's revenues are measured based on consideration specified in the contract with each customer. Disclosures regarding disaggregation of revenues and contract balances are disclosed within Note 19 "Segment and related information". ​ The Company’s marketing strategy and annual sales planning emphasize developing and maintaining long-term customer relationships. Generally, 80% to 90% of the Company’s metal production is sold under annual or longer-term contracts, which specify a volume of mineral to be sold over a stated period and delivery schedule; the price at which mineral will be sold at each delivery date is generally determined by the weekly or monthly average rate of the commodity published by major metal exchanges at specific dates stipulated within each contract. The Company considers each contract to be a single performance obligation, represented by the delivery of a series of distinct goods that are substantially the same, with the same pattern of transfer to the Company’s customers. The Company concluded this as, based on the nature of its contracts, customers receive the benefit of mineral sold as it is shipped per the terms of the contracts at each contractual delivery date. Likewise, each shipment of product represents the same measure of progress as other shipments within the contract. Accordingly, the Company recognizes revenues for each contract over the period of time in which the specified quantity of mineral is delivered. In doing so, the Company considers that it has a right to consideration from its customers in an amount that corresponds directly to the value transferred to those customers that being the quantity of mineral delivered at the price per unit delivered. Accordingly, the Company recognizes revenue at the amount to which it has the right to invoice (the invoice practical expedient), as it believes that this method is a faithful depiction of the transfer of goods to its customers. ​ For contracts with a term greater than one year, the Company is unable to disclose an allocation of the transaction price to the remaining unsatisfied performance obligation, given that unit prices of mineral sold are determined by published commodity prices at specified dates within the contract. The volume of mineral to be delivered after the first year of the contract is subject to annual volume negotiations in accordance with the terms of the contract. As of December 31, 2022, the Company has long-term contracts with promises to deliver in 2023 for a total of 147,500 metric tonnes of copper concentrate, 48,000 metric tonnes of copper cathodes, 31,587 tonnes of molybdenum concentrate and 382,500 tonnes of sulfuric acid. This is an estimate that will vary in 2023 and 2024 based on the negotiations with the customers as mentioned above. ​ The remainder of the Company’s revenues, including its by-product revenues, are generated by spot sales that are recognized at a point in time. ​ Under both sales models, revenue is recognized when or as the performance obligations are satisfied, when the Company transfers control of the goods and title passes to the customer. Considering the International Commercial Terms (Incoterms) utilized by the Company, control is transferred generally upon the completion of loading the material at the point of origin. This is the point at which the customer obtains legal title to the product as well as the ability to direct the use of and obtain substantially all of the remaining benefits of ownership of the asset. Additionally, payment is generally due upon the delivery of the shipping and title documents at the point of origin, customers typically have 30 days to remit payment. Copper and non-copper revenues are measured based on the monthly average of prevailing commodity prices according to the terms of the contracts. The Company provides allowances for doubtful accounts based upon historical bad debt and claims experience and periodic evaluation of specific customer accounts. ​ Substantially all of the Company’s sales are made under carriage and insurance paid to, or cost, insurance and freight Incoterms, whereby the Company is responsible for providing shipping and insurance after control of the inventory has been transferred to the customer. According to the terms of the Company’s contracts, these services are not distinct within the context of the contract, and they are not separately identifiable from the other promises within the contract. Additionally, it is the Company policy and it has a long-standing history of providing shipping and insurance services to its customers. Accordingly, shipping and insurance are not considered separate performance obligations. The related costs of shipping and insurance are presented within the cost of sales line in the accompanying consolidated statements of income. ​ Furthermore, the Company considered the impact of the shipping and insurance services on the determination of when control is transferred to its customers. It has concluded that the terms of these services do not impact its customers’ ability to sell, pledge, or otherwise use the products in shipment. Also, there is a small likelihood and minimal history of lost or damaged goods during shipment. Considering these factors, combined with the other indicators of control previously mentioned, the Company has concluded that these services do not impact the determination that control is transferred at the point of origin. ​ For certain of the Company’s sales of copper and molybdenum products, customer contracts allow for pricing based on a month subsequent to shipping, in most cases within the following three months and occasionally in some cases a few additional months. In such cases, revenue is recorded at a provisional price at the time of shipment. The provisionally priced copper sales are adjusted to reflect forward LME or COMEX copper prices at the end of each month until a final adjustment is made to the price of the shipments upon settlement with customers pursuant to the terms of the contract. In the case of molybdenum sales, for which there are no published forward prices, the provisionally priced sales are adjusted to reflect the market prices at the end of each month until a final adjustment is made to the price of the shipments upon settlement with customers pursuant to the terms of the contract. ​ These provisional pricing arrangements are accounted for separately from the contract as an embedded derivative instrument under ASC 815-30 “Derivatives and Hedging—Cash Flow Hedges.” The Company sells copper in concentrate, anode, blister and refined form at industry standard commercial terms. Net sales include the invoiced value of copper, zinc, silver, molybdenum, sulfuric acid and other metals and the corresponding fair value adjustment of the related forward contract of copper and molybdenum. Disclosure regarding adjustments to sales for provisionally priced contracts is disclosed within Note 19 “Segment and related information”. ​
Cash and cash equivalents	Cash and cash equivalents— ​ Cash and cash equivalents include bank deposits, certificates of deposit and short-term investment funds with original maturities of three months or less at the date of purchase. The carrying value of cash and cash equivalents approximates fair value. ​
Short-term investments	Short-term investments— ​ The Company accounts for short-term investments in accordance with ASC 320-10 “Investments Debt and Equity Securities-Recognition.” The Company determines the appropriate classification of all short-term investments as held-to-maturity, available-for-sale or trading at the time of purchase and re-evaluates such classifications as of each balance sheet date. Unrealized gains and losses on available-for-sale investments, net of taxes, are reported as a component of accumulated other comprehensive income (loss) in stockholders’ equity, unless such loss is deemed to be other than temporary. ​
Inventories	Inventories— ​ The Company principally produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. ​ Metal inventories, consisting of work-in-process and finished goods, are carried at the lower of average cost or net realizable value (NRV). Costs of work-in-process inventories and finished goods mainly include power, labor, fuel, operating and repair materials, depreciation, amortization, depletion, and other necessary costs related to the extraction and processing of ore, including mining, milling, concentrating, smelting, refining, leaching and chemical processing. Costs incurred in the production of metal inventories exclude general and administrative costs. Once molybdenum, silver, zinc and other by-products are identified, they are transferred to their respective production facilities and the incremental cost required to complete production is assigned to their inventory value. ​ Work-in-process inventories represent materials that are in the process of being converted into a saleable product. Conversion processes vary depending on the nature of the copper ore and the specific mining operation. For sulfide ores, processing includes milling and concentrating and results in the production of copper and molybdenum concentrates. ​ Finished goods include saleable products (e.g., copper concentrates, copper anodes, copper cathodes, copper rod, molybdenum concentrate and other metallurgical products). ​ Supplies inventories are carried at the lower of average cost or net realizable value (NRV). ​
Long-term inventory - Ore stockpiles on leach pads	Long-term inventory-Ore stockpiles on leach pads. ​ The leaching process is an integral part of the mining operations carried out at the Company’s open-pit mines. The Company capitalizes the production cost of leachable material at its Toquepala, La Caridad and Buenavista mines, recognizing it as inventory. This cost includes mining and haulage costs incurred to deliver ore to leach pads, depreciation, amortization, depletion and site overhead costs. The estimates of recoverable mineral content contained in the leaching dumps are supported by engineering studies. As the production cycle of the leaching process is significantly longer than the conventional process of concentrating, smelting and electrolytic refining, the Company includes current leach inventory (included in work-in-process inventories) and long-term leach inventory on its balance sheet. ​ The capitalization of long-term inventory-Ore stockpiles in leach pads is based on the allocation of copper content recoverable between ore and leach material. In addition, inventory consumption is valued at the average unit cost. ​
Property	Property— ​ Property is recorded at acquisition cost, net of accumulated depreciation and amortization. Cost includes major expenditures for improvements and replacements, which extend useful lives or increase capacity and interest costs associated with significant capital additions. Maintenance, repairs, normal development costs at existing mines and gains or losses on assets retired or sold are reflected in earnings as incurred. ​ Buildings and equipment are depreciated on the straight-line method over estimated lives from two ​
Mine development	Mine development — ​ Mine development includes primarily the cost of acquiring land rights to an exploitable ore body, pre-production stripping costs at new mines that are commercially exploitable, costs associated with bringing new mineral properties into production, and removal of overburden to prepare unique and identifiable areas outside the current mining area for such future production. Mine development costs are amortized on a unit of production basis over the remaining life of the mines. ​ Diverse practices exist in the mining industry relative to the treatment of drilling and other related costs to delineate new mineral reserves. The Company follows the practices outlined in the next two paragraphs in its treatment of drilling and related costs. ​ Drilling and other associated costs incurred in the Company's efforts to delineate new resources, whether near-mine or Greenfield are expensed as incurred. These costs are classified as mineral exploration costs. Once the Company determines through feasibility studies that proven and probable reserves exist and that the drilling and other associated costs embody a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflow, then the costs are classified as mine development costs. These mine development costs incurred prospectively to develop the property are capitalized as incurred, until the commencement of production, and are amortized using the units of production method over estimated life of the ore body. During the production stage, drilling and other related costs incurred to maintain production are included in production cost in the period in which they are incurred. ​ Drilling and other related costs incurred in the Company’s efforts to delineate a major expansion of reserves at an existing production property are expensed as incurred. Once the Company determines through feasibility studies that proven and probable incremental reserves exist and that the drilling and other associated costs embody a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflow, then the costs are classified as mine development costs. These incremental mine development costs are capitalized as incurred, until the commencement of production and amortized using the units of production method over the estimated life of the ore body. A major expansion of reserves is one that increases total reserves at a property by approximately 10% or more. ​ For the years ended December 31, 2022, 2021 and 2020, the Company did not capitalize any drilling and related costs. ​
Asset retirement obligations (reclamation and remediation costs)	Asset retirement obligations (reclamation and remediation costs)— ​ The fair value of a liability for asset retirement obligations is recognized in the period in which the liability is incurred. The liability is measured at fair value and is adjusted to its present value in subsequent periods as accretion expense is recorded. The corresponding asset retirement costs are capitalized as part of the carrying value of the related long-lived assets and depreciated over the asset's useful life. ​
Intangible assets	Intangible assets— ​ Intangible assets include primarily the excess amount paid over the book value for investment shares, which are presented as mining concessions, and mining and engineering development studies. Intangible assets are carried at acquisition costs, net of accumulated amortization and are amortized principally on a unit of production basis over the estimated remaining life of the mines. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. ​
Debt issuance costs	Debt issuance costs— ​ Debt issuance costs related to a recognized debt liability are presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with the treatment of a debt discount. ​
Mineral reserves	Mineral reserves— ​ The Company periodically reevaluates estimates of its mineral reserves, which represent the Company’s estimate as to the amount of unmined copper remaining in its existing mine locations that can be produced and sold at a profit. Such estimates are based on engineering evaluations derived from samples of drill holes and other openings, combined with assumptions about copper market prices and production costs at each of the respective mines. ​ The Company updates its estimate of mineral reserves at the beginning of each year. In 2021, the Company adopted SEC’s mining property disclosure requirements (Regulation S-K, Subpart 1300). Consequently, in 2021 and 2022, the Company based its mineral reserve estimates on a long-term price assumption of $3.30 per pound of copper. Mineral reserves at the end of 2020 were estimated under previous standards at current prices per pound of copper of $2.816. The ore reserve estimates are used to determine the amortization of mine development and intangible assets. ​ Once the Company determines through feasibility studies that proven and probable reserves exist and that drilling and other associated costs embody a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflow, then the costs are classified as mine development costs and the Company discloses the related mineral reserves. ​
Exploration	Exploration— ​ Tangible and intangible costs incurred in the search for mineral properties are charged against earnings when incurred. ​
Income taxes	Income taxes— ​ Provisions for income taxes are based on taxes payable or refundable for the current year and deferred taxes on temporary differences between the amount of taxable income and pretax financial income and between the tax bases of assets and liabilities and their reported amounts in the financial statements. Deferred tax assets and liabilities are included in the financial statements at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized and settled as prescribed in ASC 740 “Income taxes.” As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. Deferred income tax assets are reduced by any benefits that, in the opinion of management, are more likely not to be realized. ​ The Company’s operations involve dealing with uncertainties and judgments in the application of complex tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with tax authorities in various jurisdictions and resolution of disputes arising from federal, state, and international tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due. The Company follows the guidance of ASC 740 “Income taxes” to record these liabilities. (See Note 7 “Income taxes” of the consolidated financial statements for additional information). The Company adjusts these reserves in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company’s current estimate of the tax liabilities. If its estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If payment of these amounts ultimately proves to be less than the recorded amounts, the reversal of the liabilities would result in tax benefits being recognized in the period when the Company determines the liabilities are no longer necessary. The Company classifies income tax-related interest and penalties as income taxes in the financial statements, as well as interest and penalties, if any, related to unrecognized tax benefits. ​
Foreign exchange	Foreign exchange— ​ The Company’s functional currency is the U.S. dollar. As required by local law, both the Peruvian Branch and Minera Mexico maintain their books of accounts in Peruvian soles and Mexican pesos, respectively. Foreign currency assets and liabilities are remeasured into U.S. dollars at current exchange rates, except for non-monetary items such as inventory, property, intangible assets and other assets which are remeasured at historical exchange rates. Revenues and expenses are generally translated at actual exchange rates in effect during the period, except for those items related to balance sheet amounts that are remeasured at historical exchange rates. Gains and losses from foreign currency remeasurement are included in earnings of the period. ​ Gains and (losses) resulting from foreign currency transactions are included in "Cost of sales (exclusive of depreciation, amortization and depletion)." ​
Asset impairments	Asset impairments - ​ The Company evaluates long-term assets when events or changes in economic circumstances indicate that the carrying amount of such assets may not be recoverable. These evaluations are based on business plans that are prepared using a time horizon that is reflective of the Company’s expectations of metal prices over its business cycle. The Company is currently using a long-term average copper price and an average molybdenum price for impairment tests, reflective of what the Company believes is the lower level of the current price environment. The results of its impairment tests using these long-term copper and molybdenum prices show no impairment in the carrying value of their assets. ​ The Company uses an estimate of the future undiscounted net cash flows of the related asset or asset group over the remaining life to measure whether the assets are recoverable and measures any impairment by reference to fair value. ​
Other comprehensive income	Other comprehensive income— ​ Comprehensive income represents changes in equity during a period, except those resulting from investments by owners and distributions to owners. During the fiscal years ended December 31, 2022, 2021 and 2020, the components of "other comprehensive income (loss)" were, the unrecognized gain (loss) on employee benefit obligations and unrealized gain (loss) on derivative instruments classified as cash flow hedge. ​
Business segments	Business segments- ​ Company management views Southern Copper as having three reportable segments and manages it on the basis of these segments. The segments identified by the Company are: 1) the Peruvian operations, which include the two open-pit copper mines in Peru and the plants and services supporting such mines, 2) the Mexican open-pit copper mines, which include La Caridad and Buenavista mine complexes and their supporting facilities and 3) the Mexican underground mining operations, which include five underground mines that produce zinc, lead, copper, silver and gold, a coal mine and a zinc refinery. Please see Note 19 “Segments and Related Information.” The Chief Operating Decision Maker of the Company focuses on operating income as measure of performance to evaluate different segments, and to make decisions to allocate resources to the reported segments. This is a common measure in the mining industry. ​
Leases	Leases - ​ The Company adopted FASB ASC 842, Leases, effective January 1, 2019. The Company determined if a contract is or contained a lease at its inception. The Company evaluated if a contract gave the right to obtain substantially all of the economic benefits from use of an identified asset and the right to direct the use of the asset, in order to determine if a contract contained a lease. All of the Company’s existing lease contracts are operating lease contracts. For these leases, the Company recognized right-of-use assets and the corresponding operating lease liabilities on its consolidated balance sheet. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent an obligation by the Company to make lease payments which arise from the lease. Lease right-of-use assets and liabilities are recognized at the inception date based on the present value of lease payments over the lease term. As the Company’s lease contracts do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the inception date in order to determine the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term, in the cost of sales and operating expenses. The Company elected the transition approach whereby it applied the new leases standard at the adoption date and recognized a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company elected the short-term lease recognition exemption (short-term lease practical expedient) by class of underlying asset (which results in off-balance-sheet accounting for the lease). ​

SHORT-TERM INVESTMENTS_ (Tables

SHORT-TERM INVESTMENTS: (Tables)	12 Months Ended
	Dec. 31, 2022
SHORT-TERM INVESTMENTS:
Schedule of short-term investments	Short-term investments were as follows ($ in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ ​ 2022 2021 Trading securities ​ $ 208.0 ​ $ 486.5 ​ Weighted average interest rate ​ 4.5 % 0.3 % ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale ​ $ 0.3 ​ $ 0.4 ​ Weighted average interest rate ​ 0.8 % 0.7 % Total ​ $ 208.3 ​ $ 486.9 ​ ​
Summary of activity investments	The following table summarizes the activity of these investments by category (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended ​ ​ December 31, ​ ​ ​ 2022 2021 Trading: ​ ​ ​ ​ ​ ​ ​ Interest earned ​ $ 4.4 ​ $ 1.4 ​ Unrealized gain (loss) at the end of the period ​ $ (*) ​ $ 0.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ Interest earned ​ $ (*) ​ $ (*) ​ Investment redeemed ​ $ 0.1 ​ $ 0.2 ​ (*) Less than $0.1 million ​
Schedule of contractual maturities of the Company's available-for-sale debt securities	At December 31, 2022 and 2021, contractual maturities of the available-for-sale debt securities are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 One year or less ​ $ — ​ $ — Maturing after one year through five years ​ — ​ — Maturing after five years through ten years ​ — ​ — Due after 10 years ​ 0.3 ​ 0.4 Total debt securities ​ $ 0.3 ​ $ 0.4

INVENTORIES_ (Tables)

INVENTORIES: (Tables)	12 Months Ended
	Dec. 31, 2022
INVENTORIES:
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, (in millions) ​ 2022 2021 Inventory, current: ​ ​ ​ ​ ​ ​ Metals at average cost: ​ ​ ​ ​ ​ ​ Finished goods ​ $ 78.5 ​ $ 58.6 Work-in-process ​ 330.5 ​ 340.7 Ore stockpiles on leach pads ​ ​ 259.7 ​ ​ 259.7 Supplies at average cost ​ 345.2 ​ 313.9 Total current inventory ​ $ 1,013.9 ​ $ 972.9 Inventory, long-term: ​ ​ ​ ​ ​ ​ Ore stockpiles on leach pads ​ $ 1,064.3 ​ $ 1,097.6 ​

PROPERTY_ (Tables)

PROPERTY: (Tables)	12 Months Ended
	Dec. 31, 2022
PROPERTY:
Schedule of major classes of property, plant and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, (in millions) 2022 2021 Buildings and equipment ​ $ 16,718.3 ​ $ 15,993.8 Construction in progress ​ 1,747.0 ​ 1,668.0 Mine development ​ 273.2 ​ 273.2 Mineral assets ​ ​ 83.2 ​ ​ 83.2 Land, other than mineral ​ 275.4 ​ 258.6 Total property ​ 19,097.1 ​ 18,276.8 Accumulated depreciation, amortization and depletion ​ (9,500.5) ​ (8,812.4) Total property and mine development, net ​ $ 9,596.6 ​ $ 9,464.4 ​

INTANGIBLE ASSETS_ (Tables)

INTANGIBLE ASSETS: (Tables)	12 Months Ended
	Dec. 31, 2022
INTANGIBLE ASSETS:
Schedule of major classes of intangible assets and goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, (in millions) 2022 2021 Mining concessions ​ $ 121.2 ​ $ 121.2 Mine engineering and development studies ​ 19.8 ​ 19.8 Software ​ 70.3 ​ 65.4 ​ ​ 211.3 ​ 206.4 Accumulated amortization: ​ ​ ​ ​ ​ Mining concessions ​ ​ (42.2) ​ ​ (40.4) Mine engineering and development studies ​ ​ (19.2) ​ ​ (18.2) Software ​ ​ (57.1) ​ ​ (51.6) ​ ​ ​ (118.5) ​ ​ (110.2) Goodwill ​ 41.9 ​ 41.9 Intangible assets, net ​ $ 134.7 ​ $ 138.1 ​
Schedule of estimated amortization of intangible assets for future periods	​ ​ ​ ​ ​ Estimated amortization expense (in millions): ​ ​ 2023 ​ $ 6.9 2024 ​ ​ 5.8 2025 ​ ​ 5.1 2026 ​ ​ 1.8 2027 ​ ​ 1.8 Total 2023 - 2027 ​ $ 21.4 Average annual ​ $ 4.3 ​

INCOME TAXES_ (Tables)

INCOME TAXES: (Tables)	12 Months Ended
	Dec. 31, 2022
INCOME TAXES:
Components of the provision for income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 2020 U.S. federal and state: ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 0.1 ​ $ — ​ $ — Deferred ​ — ​ — ​ — Uncertain tax positions ​ — ​ — ​ — ​ ​ 0.1 ​ — ​ — Foreign (Peru and Mexico): ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ 1,443.1 ​ 2,425.5 ​ 1,237.9 Deferred ​ ​ 118.6 ​ (126.3) ​ (63.5) Uncertain tax positions ​ 34.3 ​ — ​ — ​ ​ 1,596.0 ​ 2,299.2 ​ 1,174.4 Total provision for income taxes ​ $ 1,596.1 ​ $ 2,299.2 ​ $ 1,174.4 ​
Schedule of source of income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 2020 Earnings by location: ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ $ 0.5 ​ $ (32.4) ​ $ (15.3) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ Peru ​ 1,167.8 ​ 1,962.8 ​ 723.9 Mexico ​ 3,079.5 ​ 3,766.4 ​ 2,037.2 ​ ​ 4,247.3 ​ 5,729.2 ​ 2,761.1 Earnings before taxes on income ​ $ 4,247.8 ​ $ 5,696.8 ​ $ 2,745.8 ​
Reconciliation of the statutory income tax rate to the effective tax rate	The reconciliation of the statutory income tax rate to the effective tax rate for the three years ended December 31, 2022, is as follows (in percentage points): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Expected tax at U.S. statutory rate 21.0 % 21.0 % 21.0 % Foreign tax at other than statutory rate, net of foreign tax credit benefit (1) 14.7 ​ 13.8 ​ 13.7 ​ Percentage depletion (2.1) ​ (1.8) ​ (2.2) ​ Other permanent differences (0.1) ​ (0.3) ​ 0.1 ​ Additional valuation allowance on U.S. deferred tax assets, foreign tax credits and U.S. tax effect on Peruvian deferred taxes ​ 5.5 ​ 8.4 ​ 8.9 ​ Increase (decrease) in unrecognized tax benefits for uncertain tax positions 1.5 ​ (0.5) ​ (0.1) ​ Amounts (over) / under provided in prior years (1.7) ​ — ​ (0.1) ​ Other (1.2) ​ (0.2) ​ 1.5 ​ Effective income tax rate 37.6 % 40.4 % 42.8 % (1) Foreign tax at other than statutory rates, net of foreign tax credit benefit, also includes the effects of permanent differences in Peru and Mexico, that are determined at the local statutory rate. ​
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, (in millions) 2022 2021 Assets: ​ ​ ​ ​ ​ ​ Inventories ​ $ 28.5 ​ $ 78.0 Capitalized exploration expenses ​ 12.4 ​ 12.5 U.S. foreign tax credit carryforward, net of Uncertain Tax Positions ​ 1,653.5 ​ 1,479.2 U.S. tax effect of Peruvian deferred tax liability ​ 112.5 ​ 75.0 U.S. tax effect of Peruvian Uncertain Tax Positions ​ ​ 45.1 ​ ​ — Reserves ​ 249.6 ​ 284.5 Property, plant and equipment ​ ​ — ​ ​ 9.5 Deferred workers participation ​ ​ 15.9 ​ ​ 11.1 Accrued salaries, wages and vacations ​ ​ 7.4 ​ ​ 8.2 Sales price adjustment (PUI) ​ ​ — ​ ​ 2.6 Social responsibility expenses ​ ​ — ​ ​ 5.1 Deferred charges ​ ​ 28.6 ​ ​ 31.6 Valuation allowance on U.S. deferred tax assets, foreign tax credits and U.S. tax effect of Peruvian deferreds ​ ​ (2,053.7) ​ ​ (1,820.0) Accrued royalty and special mining tax ​ ​ 10.8 ​ ​ 23.3 Other ​ 21.9 ​ 5.5 Total deferred tax assets ​ 132.5 ​ 206.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, (in millions) 2022 2021 Liabilities: ​ ​ ​ ​ ​ ​ Property, plant and equipment ​ (19.7) ​ — Social responsibility expenses ​ (7.7) ​ — Sales price adjustment (PUI) ​ ​ (29.0) ​ ​ — Other ​ — ​ (8.2) Total deferred tax liabilities ​ (56.4) ​ (8.2) Total net deferred tax (liabilities) / assets ​ $ 76.1 ​ $ 197.9 ​
Summary of expiry of foreign tax credits	​ ​ ​ ​ ​ Year Amount 2024 ​ ​ 72.2 2025 ​ 146.7 2026 ​ ​ 96.1 2027 ​ ​ — 2028 ​ ​ 175.0 2029 ​ ​ 219.9 2030 ​ ​ 247.6 2031 ​ ​ 582.2 2032 ​ ​ 131.0 Total ​ $ 1,670.7 ​
Schedule of reconciliation of amount of unrecognized tax benefits	The total amount of unrecognized tax benefits in 2022, 2021 and 2020, was as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Unrecognized tax benefits, opening balance ​ $ — ​ $ 66.1 ​ $ 58.4 Gross decreases—tax positions in prior period ​ — ​ (10.9) ​ — Gross increases—tax positions in prior period ​ ​ 130.9 ​ ​ — ​ ​ — Gross increases—current-period tax positions ​ — ​ — ​ 7.7 Gross decreases—current-period tax positions ​ ​ (10.7) ​ ​ (1.1) ​ ​ — Decreases related to settlements with taxing authorities ​ (37.5) ​ (54.1) ​ — ​ ​ 82.7 ​ (66.1) ​ 7.7 Unrecognized tax benefits, ending balance ​ $ 82.7 ​ $ — ​ $ 66.1 ​
Summary of tax years remaining open to examination and adjustment in major tax jurisdictions	​ ​ ​ ​ Peru: 2017 and all subsequent years U.S.: ​ 2017 and all subsequent years Mexico: ​ 2017 and all subsequent years ​

WORKERS' PARTICIPATION_ (Tables

WORKERS' PARTICIPATION: (Tables)	12 Months Ended
	Dec. 31, 2022
WORKERS' PARTICIPATION:
Schedule of workers' participation expense	Workers’ participation expense for the three years ended December 31, 2022 was as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Current ​ $ 347.2 ​ $ 344.5 ​ $ 248.5 Deferred ​ 29.1 ​ (72.8) ​ 19.8 ​ ​ $ 376.3 ​ $ 271.7 ​ $ 268.3

LEASES_ (Tables)

LEASES: (Tables)	12 Months Ended
	Dec. 31, 2022
LEASES:
Schedule of the operating lease expense recognized	The operating lease expense recognized in the years ended December 31, 2022, 2021 and 2020 was classified as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Classification 2022 2021 ​ 2020 Cost of sales (exclusive of depreciation, amortization and depletion) $ 115.5 ​ $ 108.1 ​ $ 114.4 Selling, general and administrative ​ 0.1 ​ 0.1 ​ 0.2 Exploration ​ 0.1 ​ 0.2 ​ 0.2 Total lease expense $ 115.7 ​ $ 108.4 ​ $ 114.8 ​
Schedule of Maturities of lease liabilities	​ ​ ​ ​ ​ ​ ​ Lease liabilities Year (in millions) 2023 $ 115.5 2024 ​ 107.5 2025 ​ 106.2 2026 ​ 106.0 2027 ​ 105.7 After 2027 ​ 523.4 Total lease payments $ 1,064.3 Less: interest on lease liabilities ​ (212.9) Present value of lease payments $ 851.4

ASSET RETIREMENT OBLIGATION_ (T

ASSET RETIREMENT OBLIGATION: (Tables)	12 Months Ended
	Dec. 31, 2022
ASSET RETIREMENT OBLIGATION:
Summary of asset retirement obligation activity	The following table summarizes the asset retirement obligation activity for the years ended December 31, 2021 and 2020 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Balance as of January 1 ​ $ 562.9 ​ $ 545.0 Changes in estimates ​ (10.8) ​ — Additions ​ 11.9 ​ ​ Closure payments ​ (7.1) ​ (5.6) Accretion expense ​ 28.4 ​ 23.5 Balance as of December 31, ​ $ 585.3 ​ $ 562.9

FINANCING_ (Tables)

FINANCING: (Tables)	12 Months Ended
	Dec. 31, 2022
FINANCING:
Schedule of long-term debt	Long-term debt (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ value as of ​ ​ Face ​ Issuance ​ Issuance ​ December 31, ​ amount discount costs 2022 3.875% Senior unsecured notes due 2025 500 ​ ​ (0.7) ​ ​ (0.7) ​ 498.6 9.250% Yankee bonds due 2028 51.2 ​ ​ — ​ ​ — ​ 51.2 7.500% Senior unsecured notes due 2035 1,000 ​ ​ (11.0) ​ ​ (7.3) ​ 981.7 6.750% Senior unsecured notes due 2040 ​ ​ 1,100 ​ ​ (6.6) ​ ​ (5.2) ​ ​ 1,088.2 5.250% Senior unsecured notes due 2042 1,200 ​ ​ (17.6) ​ ​ (5.9) ​ 1,176.5 5.875% Senior unsecured notes due 2045 1,500 ​ ​ (15.4) ​ ​ (8.2) ​ ​ 1,476.4 4.500% Minera Mexico Senior unsecured notes due 2050 ​ ​ 1,000 ​ ​ (12.1) ​ ​ (9.3) ​ 978.6 Total ​ $ 6,351.2 ​ $ (63.4) ​ $ (36.6) ​ 6,251.2 Less, current portion ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — Total long-term debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 6,251.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ value as of ​ ​ Face ​ Issuance ​ Issuance ​ December 31, ​ ​ amount ​ discount ​ costs ​ 2021 3.500% Senior unsecured notes due 2022 ​ $ 300 ​ $ (0.1) ​ $ (0.2) ​ $ 299.7 3.875% Senior unsecured notes due 2025 ​ 500 ​ ​ (1.0) ​ ​ (1.0) ​ 498.0 9.250% Yankee bonds due 2028 ​ 51.2 ​ ​ — ​ ​ — ​ 51.2 7.500% Senior unsecured notes due 2035 ​ 1,000 ​ ​ (11.6) ​ ​ (7.6) ​ 980.8 6.750% Senior unsecured notes due 2040 ​ 1,100 ​ ​ (6.7) ​ ​ (5.4) ​ ​ 1,087.9 5.250% Senior unsecured notes due 2042 ​ ​ 1,200 ​ ​ (18.1) ​ ​ (6.0) ​ 1,175.9 5.875% Senior unsecured notes due 2045 ​ 1,500 ​ ​ (15.8) ​ ​ (8.3) ​ ​ 1,475.9 4.500% Minera Mexico Senior unsecured notes due 2050 ​ 1,000 ​ ​ (12.3) ​ ​ (9.5) ​ 978.2 Total ​ $ 6,651.2 ​ $ (65.6) ​ $ (38.0) ​ 6,547.6 Less, current portion ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (299.7) Total long-term debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 6,247.9 ​
Schedule of aggregate maturities of the outstanding borrowings	​ ​ ​ ​ ​ ​ Principal Years ​ Due(*) ​ ​ (in millions) 2023 $ — 2024 ​ ​ — 2025 ​ 500.0 2026 ​ — 2027 ​ ​ — Thereafter ​ 5,851.2 Total ​ $ 6,351.2 (*)

BENEFIT PLANS_ (Tables)

BENEFIT PLANS: (Tables)	12 Months Ended
	Dec. 31, 2022
Post retirement defined benefit plans and defined contribution plan
Components of net periodic benefit costs
Schedule of the components of net periodic benefit costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 2020 Service cost ​ $ 1.8 ​ $ 1.4 ​ $ 1.4 Interest cost ​ 2.3 ​ 1.5 ​ 1.7 Expected return on plan assets ​ (3.9) ​ (3.3) ​ (2.9) Amortization of net actuarial loss ​ ​ 0.1 ​ ​ (0.1) ​ ​ 0.1 Amortization of prior service cost / (credit) ​ 0.2 ​ 0.2 ​ 0.2 Settlement / Curtailment ​ ​ — ​ ​ — ​ ​ (0.4) Amortization of net loss/(gain) ​ 0.3 ​ 0.3 ​ 0.2 Net periodic benefit cost ​ $ 0.8 ​ $ — ​ $ 0.3 ​
Schedule of changes in the benefit obligation and plan assets, the funded status of the plans and the amount recognized in balance sheet and accumulated other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in millions) 2022 2021 Change in benefit obligation: ​ ​ ​ ​ ​ ​ Projected benefit obligation at beginning of year ​ $ 36.3 ​ $ 29.9 Service cost ​ 1.8 ​ 1.4 Interest cost ​ 2.3 ​ 1.5 Benefits paid ​ (2.8) ​ (2.2) Actuarial loss ​ 1.0 ​ 6.7 Actuarial gain assumption changes ​ (1.7) ​ (0.4) Inflation adjustment ​ 1.7 ​ (0.6) Projected benefit obligation at end of year ​ $ 38.6 ​ $ 36.3 Change in plan assets: ​ ​ ​ ​ ​ ​ Fair value of plan assets at beginning of year ​ $ 56.0 ​ $ 54.4 Actual return on plan assets ​ 1.9 ​ 4.3 Employer contributions ​ (0.8) ​ (0.6) Benefits paid ​ (0.8) ​ (0.8) Currency exchange rate adjustment ​ 2.9 ​ (1.3) Fair value of plan assets at end of year ​ $ 59.2 ​ $ 56.0 Funded status at end of year: ​ $ 20.6 ​ $ 19.7 ASC-715 amounts recognized in statement of financial position consists of: ​ ​ ​ ​ ​ ​ Non-current assets ​ $ 20.6 ​ $ 19.7 Total ​ $ 20.6 ​ $ 19.7 ASC-715 amounts recognized in accumulated other comprehensive income (net of income taxes of $(4.8) million and $(4.2) million in 2022 and 2021, respectively) consists of: ​ ​ ​ ​ ​ ​ Net loss (gain) ​ $ 6.7 ​ $ 6.2 Prior service cost ​ 1.1 ​ 1.0 Total ​ $ 7.8 ​ $ 7.2 ​
Schedule of changes in accumulated other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 Reconciliation of accumulated other comprehensive income: ​ ​ ​ ​ ​ ​ Accumulated other comprehensive income at beginning of plan year ​ $ 7.2 ​ $ 4.2 Net loss/(gain) ocurring during the year ​ 0.8 ​ 3.3 Net loss/(gain) amortized during the year ​ (0.4) ​ (0.2) Currency exchange rate adjustment ​ 0.2 ​ (0.1) Net adjustment to accumulated other comprehensive income (net of income taxes of $(0.5) million and $(1.9) million in 2022 and 2021, respectively) ​ 0.6 ​ 3.0 Accumulated other comprehensive income at end of plan year ​ $ 7.8 ​ $ 7.2 ​
Summary of the amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost, net of tax	​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 Net loss / (gain) ​ $ 0.8 ​ $ 3.3 Amortization of net (loss) gain ​ (0.4) ​ (0.2) Total amortization expenses ​ $ 0.4 ​ $ 3.1 ​
Schedule of assumptions used to determine the pension obligations and other post-retirement benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ Expatriate Plan 2022 2021 2020 Discount rate 4.85 % 2.40 % 1.90 % Expected long-term rate of return on plan asset 4.00 % 3.00 % 3.50 % Rate of increase in future compensation level N/A ​ N/A ​ N/A ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican Plan(*) 2022 2021 2020 Discount rate 10.09 % 8.02 % 7.43 % Expected long-term rate of return on plan asset 10.09 % 8.02 % 7.43 % Rate of increase in future compensation level 4.75 % 4.50 % 4.50 % (*) ​
Scheduled maturities of the benefits expected to be paid in each of the next five years, and thereafter	​ ​ ​ ​ ​ ​ Expected Years ​ Benefit Payments ​ ​ (in millions) 2023 ​ $ 7.5 2024 ​ 3.2 2025 ​ 3.7 2026 ​ 3.6 2027 ​ 4.2 2028 to 2032 ​ 20.2 Total ​ $ 42.4 ​
Post-retirement Health care plans
Components of net periodic benefit costs
Schedule of the components of net periodic benefit costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in millions) 2022 2021 2020 Interest cost ​ $ 1.7 ​ $ 1.6 ​ $ 1.3 Amortization of net loss (gain) ​ 0.1 ​ 0.2 ​ — Net periodic benefit cost ​ $ 1.8 ​ $ 1.8 ​ $ 1.3 ​
Schedule of changes in the benefit obligation and plan assets, the funded status of the plans and the amount recognized in balance sheet and accumulated other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in millions) 2022 2021 Change in benefit obligation: ​ ​ ​ ​ ​ ​ Projected benefit obligation at beginning of year ​ $ 21.4 ​ $ 23.8 Interest cost ​ 1.7 ​ 1.6 Benefits paid ​ (1.6) ​ (1.4) Actuarial (gain) ​ (2.6) ​ (2.0) Inflation adjustment ​ 1.4 ​ (0.6) Projected benefit obligation at end of year ​ $ 20.3 ​ $ 21.4 Funded status at end of year: ​ $ 20.3 ​ $ 21.4 ASC-715 amounts recognized in statement of financial position consists of: ​ ​ ​ ​ ​ ​ Non-current liabilities ​ (20.3) ​ (21.4) Total ​ $ (20.3) ​ $ (21.4) ASC-715 amounts recognized in accumulated other comprehensive income consists of: ​ ​ ​ ​ ​ ​ Net loss (gain) ​ $ 1.6 ​ $ 3.3 Total (net of income taxes of $(0.5) million and $(1.2) million in 2022 and 2021, respectively) ​ $ 1.6 ​ $ 3.3 ​
Schedule of changes in accumulated other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in millions) 2022 2021 Reconciliation of accumulated other comprehensive income: ​ ​ ​ ​ ​ ​ Accumulated other comprehensive income at beginning of plan year ​ $ 3.3 ​ $ 4.6 Net loss/(gain) occurring during the year ​ (1.8) ​ (1.1) Net loss/(gain) amortized during the year ​ (0.1) ​ (0.1) Currency exchange rate adjustment ​ 0.2 ​ (0.1) Net adjustment to accumulated other comprehensive income (net of income taxes of $(0.5) million and $(1.2) million in 2022 and 2021, respectively) ​ (1.7) ​ (1.3) Accumulated other comprehensive income at end of plan year ​ $ 1.6 ​ $ 3.3 ​
Summary of the amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost, net of tax	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, (in millions) 2022 2021 Net loss / (gain) ​ $ (1.8) ​ $ (1.1) Amortization of net (loss) gain ​ (0.1) ​ (0.1) Total amortization expenses ​ $ (1.9) ​ $ (1.2) ​
Schedule of assumptions used to determine the pension obligations and other post-retirement benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Expatriate health plan ​ ​ ​ ​ ​ ​ ​ Discount rate 4.85 % 2.40 % 1.90 % Mexican health plan ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate 10.09 % 8.02 % 7.43 % ​
Scheduled maturities of the benefits expected to be paid in each of the next five years, and thereafter	​ ​ ​ ​ ​ ​ Expected Year ​ Benefit Payments ​ ​ (in millions) 2023 ​ $ 1.6 2024 ​ ​ 1.6 2025 ​ 1.7 2026 ​ 1.7 2027 ​ 1.7 2028 to 2032 ​ 9.4 Total ​ $ 17.7 ​
Mexican Health Plan | Post retirement defined benefit plans and defined contribution plan
Components of net periodic benefit costs
Schedule of asset mix of the investment portfolio	​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Asset category: ​ ​ ​ ​ ​ Treasury bills 76 % 73 % Equity securities 24 % 27 % ​ 100 % 100 % ​
Mexican Health Plan | Post-retirement Health care plans
Components of net periodic benefit costs
Schedule of effects of one percentage-point change in assumed other benefits cost trend rates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One Percentage ​ ​ Point (in millions) Increase Decrease Effect on total service and interest cost components ​ $ 2.1 ​ $ 1.8 Effect on the post-retirement benefit obligation ​ $ 20.9 ​ $ 19.0

COMMITMENTS AND CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES: (Tables)	12 Months Ended
	Dec. 31, 2022
COMMITMENTS AND CONTINGENCIES:
Schedule of environmental capital investments	​ Environmental capital investments in years 2022, 2021 and 2020, were as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Peruvian operations (*) ​ $ 8.7 ​ $ 6.4 ​ $ (3.3) Mexican operations ​ 52.7 ​ 62.3 ​ 41.1 ​ ​ $ 61.4 ​ $ 68.7 ​ $ 37.8 (*) ​

STOCKHOLDERS' EQUITY_ (Tables)

STOCKHOLDERS' EQUITY: (Tables)	12 Months Ended
	Dec. 31, 2022
Share based Compensation Plan
Schedule of activity in treasury stock	​ Activity in treasury stock in the years 2022 and 2021 was as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Southern Copper common shares ​ ​ ​ ​ ​ ​ Balance as of January 1, ​ $ 2,767.2 ​ $ 2,767.5 Used for corporate purposes ​ (0.3) ​ (0.3) Balance as of December 31, ​ 2,766.9 ​ 2,767.2 ​ ​ ​ ​ ​ ​ ​ Parent Company (Grupo Mexico) common shares ​ ​ ​ ​ ​ ​ Balance as of January 1, ​ 306.8 ​ 296.0 Other activity, including dividend, interest and foreign currency transaction effect ​ 33.9 ​ 10.8 Balance as of December 31, ​ 340.7 ​ 306.8 Treasury stock balance as of December 31, ​ $ 3,107.6 ​ $ 3,074.0 ​
Schedule of activity in Directors' Stock Award Plan	​ ​ ​ ​ ​ ​ ​ 2022 2021 Total SCC shares reserved for the plan 600,000 600,000 Total shares granted at January 1, (405,200) (391,600) Granted in the period (11,600) (13,600) Total shares granted at December 31, (416,800) (405,200) Remaining shares reserved 183,200 194,800 ​
Employee Stock Purchase 2015 Plan
Share based Compensation Plan
Schedule of stock based compensation expense and unrecognized compensation expense	The stock-based compensation expense for the years ended December 31, 2022, 2021 and 2020 and the unrecognized compensation expense under this plan were as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Stock based compensation expense ​ $ 0.6 ​ $ 0.6 ​ $ 0.6 Unrecognized compensation expense ​ $ 0.2 ​ $ 0.8 ​ $ 1.4 ​
Schedule of stock award activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Unit Weighted Average ​ ​ Shares ​ Grant Date Fair Value Outstanding shares at January 1, 2022 867,234 ​ $ 2.63 Granted — ​ — Exercised (21,339) ​ $ 2.63 Forfeited — ​ — Outstanding shares at December 31, 2022 845,895 ​ $ 2.63 Outstanding shares at January 1, 2021 1,264,410 ​ $ 2.63 Granted — ​ — Exercised (397,176) ​ $ 2.63 Forfeited — ​ — Outstanding shares at December 31, 2021 867,234 ​ $ 2.63 ​
Employee Stock Purchase 2018 Plan
Share based Compensation Plan
Schedule of stock based compensation expense and unrecognized compensation expense	​ The stock-based compensation expense for the years ended December 31, 2022, 2021 and 2020 and the unrecognized compensation expense under this plan were as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ 2020 Stock based compensation expense ​ $ 0.7 $ 0.7 $ 0.7 Unrecognized compensation expense ​ $ 2.4 $ 3.1 $ 3.8 ​
Schedule of stock award activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unit Weighted Average ​ Shares ​ Grant Date Fair Value Outstanding shares at January 1, 2022 3,173,924 ​ $ 1.86 Granted — ​ ​ — Exercised (419,418) ​ $ 1.86 Forfeited — ​ — Outstanding shares at December 31, 2022 2,754,506 ​ $ 1.86 Outstanding shares at January 1, 2021 ​ 3,918,458 ​ $ 1.86 Granted ​ — ​ ​ — Exercised ​ (744,534) ​ $ 1.86 Forfeited ​ — ​ — Outstanding shares at December 31, 2021 3,173,924 ​ $ 1.86 ​

FAIR VALUE MEASUREMENT_ (Tables

FAIR VALUE MEASUREMENT: (Tables)	12 Months Ended
	Dec. 31, 2022
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 consolidated balance sheet as of December 31, 2022 and December 31, 2020 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 ​ At December 31, 2021 ​ Carrying Value Fair Value Carrying Value Fair Value Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt level 1 ​ $ 6,200.0 ​ $ 6,372.6 ​ $ 6,496.4 ​ $ 8,506.0 Long-term debt level 2 ​ ​ 51.2 ​ ​ 54.2 ​ ​ 51.2 ​ ​ 67.2 Total long-term debt ​ $ 6,251.2 ​ $ 6,426.8 ​ $ 6,547.6 ​ $ 8,573.2 ​
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 of December 31, 2022 and 2021, as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at Measurement Date Using: ​ ​ ​ ​ ​ Significant ​ ​ ​ ​ Fair Value ​ Quoted prices in ​ other ​ Significant ​ ​ as of ​ active markets for ​ observable ​ unobservable ​ ​ December 31, ​ identical assets ​ inputs ​ inputs Description ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short term investment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ $ 208.0 ​ $ 208.0 ​ $ — ​ $ — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset backed securities ​ 0.1 ​ ​ — ​ ​ 0.1 ​ ​ — Mortgage backed securities ​ 0.2 ​ ​ — ​ ​ 0.2 ​ ​ — Accounts receivable: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Provisionally priced sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Copper ​ 1,052.0 ​ 1,052.0 ​ ​ — ​ ​ — Molybdenum ​ 456.9 ​ 456.9 ​ — ​ ​ — Total ​ $ 1,717.2 ​ $ 1,716.9 ​ $ 0.3 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at Measurement Date Using: ​ ​ ​ ​ ​ Significant ​ ​ ​ ​ Fair Value ​ Quoted prices in ​ other ​ Significant ​ ​ as of ​ active markets for ​ observable ​ unobservable ​ ​ December 31, ​ identical assets ​ inputs ​ inputs Description ​ 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short term investment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ $ 486.5 ​ $ 486.5 ​ $ — ​ $ — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate bonds ​ — ​ ​ — ​ ​ — ​ ​ — Asset backed securities ​ 0.2 ​ ​ — ​ ​ 0.2 ​ ​ — Mortgage backed securities ​ 0.2 ​ ​ — ​ ​ 0.2 ​ ​ — Accounts receivable: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Provisionally priced sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Copper ​ 876.2 ​ 876.2 ​ ​ — ​ ​ — Molybdenum ​ 288.3 ​ 288.3 ​ — ​ ​ — Total ​ $ 1,651.4 ​ $ 1,651.0 ​ $ 0.4 ​ $ — ​

CONCENTRATION OF RISK_ (Tables)

CONCENTRATION OF RISK: (Tables)	12 Months Ended
	Dec. 31, 2022
CONCENTRATION OF RISK:
Schedule of concentration risk for cash equivalents and short- term investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ in ​ % of total ​ % in one institution Country million cash (1) of country of total cash United States ​ $ 1,903.8 83.6 % 12.4 % 10.3 % Switzerland ​ ​ 227.2 ​ 10.0 % 100.0 % 10.0 % Peru ​ 41.6 1.8 % 75.1 % 1.4 % Mexico ​ 105.4 4.6 % 56.4 % 2.6 % Total cash and short-term investment ​ $ 2,278.0 100.0 % ​ ​ ​ ​ (1) 96.4% of the Company’s cash is in U.S. dollars. ​
Schedule of company's largest customers as percentage of accounts receivable and total sales	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Accounts receivable trade as of December 31, ​ ​ ​ ​ ​ ​ ​ Five largest customers 34.2 % 31.3 % 35.3 % Largest customer 10.4 % 11.8 % 12.9 % ​ ​ ​ ​ ​ ​ ​ ​ Total sales in year ​ ​ ​ ​ ​ ​ ​ Five largest customers 25.7 % 25.0 % 28.1 % Largest customer 6.8 % 7.2 % 10.0 %

RELATED PARTY TRANSACTIONS_ (Ta

RELATED PARTY TRANSACTIONS: (Tables)	12 Months Ended
	Dec. 31, 2022
RELATED PARTY TRANSACTIONS:
Schedule of receivable and payable balances with related parties	​ Receivable and payable balances with related parties are shown below (in millions): ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ 2022 2021 Related parties receivable current: ​ ​ ​ ​ ​ Grupo Mexico and affiliates: ​ ​ ​ ​ ​ Asarco LLC $ 9.2 ​ $ 10.0 Americas Mining Corporation (“AMC”) ​ — ​ ​ 0.1 AMMINCO Apoyo Administrativo, S.A. de C.V. (“AMMINCO”) ​ (*) ​ ​ — Compania Perforadora Mexico S.A.P.I. de C.V. and affiliates 0.3 ​ 0.3 Mexico Generadora de Energia S. de R.L. ("MGE") ​ 23.4 ​ ​ 38.4 Grupo Mexico Servicios de Ingenieria, S.A. de C.V. ​ 0.2 ​ ​ 0.2 ​ ​ ​ ​ ​ ​ Related to the controlling group: ​ ​ ​ ​ ​ Boutique Bowling de Mexico S.A. de C.V. ​ 0.1 ​ ​ 0.1 Operadora de Cinemas S.A. de C.V. ​ 0.1 ​ ​ (*) ​ $ 33.3 ​ $ 49.1 ​ ​ ​ ​ ​ ​ Related parties payable: ​ ​ ​ ​ ​ Grupo Mexico and affiliates: ​ ​ ​ ​ ​ AMMINCO $ 5.0 ​ $ 9.5 Asarco LLC ​ 23.8 ​ ​ 14.9 Eolica El Retiro, S.A.P.I. de C.V. 0.4 ​ 2.7 Ferrocarril Mexicano S.A. de C.V. 5.6 ​ 4.0 Grupo Mexico Servicios ​ 20.2 ​ ​ 11.1 MGE ​ 57.5 ​ ​ 57.2 Mexico Compania Constructora S.A de C.V. ​ 5.9 ​ ​ 2.0 Grupo Mexico Servicios de Ingenieria, S.A. de C.V. ​ 1.2 ​ ​ 0.9 Related to the controlling group: ​ ​ ​ ​ ​ Boutique Bowling de Mexico S.A. de C.V. 0.3 ​ 0.3 Mexico Transportes Aereos S.A. de C.V. (“Mextransport”) 0.1 ​ 0.5 Operadora de Cinemas S.A. de C.V. ​ 0.2 ​ ​ 0.2 ​ $ 120.2 ​ $ 103.3 (*) Less than $0.1 million. ​
Grupo Mexico and affiliates
RELATED PARTY TRANSACTIONS:
Schedule of purchase and sales activities with related parties	The following table summarizes the purchase and sale activities with Grupo Mexico and its affiliates in 2022, 2021 and 2020 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Purchase activity ​ ​ ​ ​ ​ ​ ​ ​ ​ Asarco LLC ​ $ 66.3 ​ $ 31.3 ​ $ 233.9 AMMINCO ​ ​ 10.0 ​ ​ 8.9 ​ ​ 18.6 Controladora de Infraestructura Energetica S.A. de C.V ​ ​ 0.8 ​ ​ — ​ ​ — Eolica El Retiro, S.A.P.I. de C.V. ​ 3.0 ​ 9.3 ​ 1.0 Ferrocarril Mexicano, S.A. de C.V. ​ 42.9 ​ 41.8 ​ 45.8 Grupo Mexico ​ ​ — ​ ​ — ​ ​ 10.0 Grupo Mexico Servicios ​ ​ 20.1 ​ ​ 20.1 ​ ​ — Intermodal Mexico S.A. de C.V. ​ ​ — ​ ​ 0.5 ​ ​ — MGE ​ 331.0 ​ 287.3 ​ 213.3 Mexico Compania Constructora S.A de C.V. ​ ​ 43.8 ​ ​ 44.5 ​ ​ 42.6 Grupo Mexico Servicios de Ingenieria, S.A. de C.V. ​ ​ 16.7 ​ ​ 10.3 ​ ​ 11.1 Peru Mining Exploration & Development Company ​ ​ — ​ ​ 0.4 ​ ​ — Total purchases ​ $ 534.6 ​ $ 454.4 ​ $ 576.3 Sales activity ​ ​ ​ ​ ​ ​ ​ ​ ​ Asarco LLC ​ $ 48.0 ​ $ 33.4 ​ $ 77.9 AMMINCO ​ ​ (*) ​ ​ 0.1 ​ ​ 0.1 AMC ​ ​ — ​ ​ 0.1 ​ ​ — MGE ​ ​ 165.0 ​ ​ 126.9 ​ ​ 54.9 Total sales ​ $ 213.0 ​ $ 160.5 ​ $ 132.9 (*) Less than $0.1 million ​
Companies with relationship to the controlling group
RELATED PARTY TRANSACTIONS:
Schedule of purchase and sales activities with related parties	The following table summarizes the purchase and sales activities with other Larrea family companies in 2022, 2021 and 2020 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Purchase activity ​ ​ ​ ​ ​ ​ ​ ​ ​ Boutique Bowling de Mexico S.A. de C.V. ​ $ 0.4 ​ $ 0.3 ​ $ 0.4 Mextransport ​ ​ 2.1 ​ ​ 1.8 ​ ​ 3.5 Operadora de Cinemas S.A. de C.V. ​ ​ 0.2 ​ ​ 0.4 ​ ​ 0.2 Total purchases ​ $ 2.7 ​ $ 2.5 ​ $ 4.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales activity ​ ​ ​ ​ ​ ​ ​ ​ ​ Boutique Bowling de Mexico S.A. de C.V. ​ $ 0.1 ​ $ 0.1 ​ $ 0.1 Mextransport ​ ​ 1.9 ​ ​ 1.8 ​ ​ 1.7 Operadora de Cinemas S.A. de C.V. ​ ​ 0.1 ​ ​ 0.1 ​ ​ 0.1 Total sales ​ $ 2.1 ​ $ 2.0 ​ $ 1.9 ​

SEGMENT AND RELATED INFORMATI_2

SEGMENT AND RELATED INFORMATION: (Tables)	12 Months Ended
	Dec. 31, 2022
SEGMENT AND RELATED INFORMATION:
Schedule of financial information relating to Company's segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2022 ​ ​ (in millions) ​ ​ Mexican ​ ​ Corporate, other ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ and ​ ​ ​ ​ ​ Open-pit ​ Unit ​ Operations ​ eliminations ​ Consolidated Net sales outside of segments ​ $ 5,610.9 ​ $ 528.5 ​ $ 3,908.5 ​ $ — ​ $ 10,047.9 Intersegment sales ​ 161.7 ​ ​ 138.0 ​ — ​ (299.7) ​ — Cost of sales (exclusive of depreciation, amortization and depletion) ​ 2,371.9 ​ 532.8 ​ 2,061.3 ​ (316.9) ​ 4,649.1 Selling, general and administrative ​ 65.9 ​ 10.2 ​ 39.2 ​ 9.7 ​ 125.0 Depreciation, amortization and depletion ​ 377.0 ​ 57.6 ​ 321.7 ​ 40.0 ​ 796.3 Exploration ​ 3.1 ​ 5.4 ​ 18.5 ​ 14.7 ​ 41.7 Operating income ​ $ 2,954.7 ​ $ 60.6 ​ $ 1,467.8 ​ $ (47.3) ​ ​ 4,435.8 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (305.1) Other income (expense) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 117.1 Income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,596.1) Equity earnings of affiliate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3.7) Non-controlling interest ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (9.5) Net income attributable to SCC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 2,638.5 Capital investment ​ $ 422.7 ​ $ 161.8 ​ $ 355.0 ​ $ 9.0 ​ $ 948.5 Property and mine development, net ​ $ 4,512.6 ​ $ 678.5 ​ $ 3,659.3 ​ $ 746.2 ​ $ 9,596.6 Total assets ​ $ 8,835.9 ​ $ 1,100.7 ​ $ 4,870.8 ​ $ 2,470.0 ​ $ 17,277.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ ​ (in millions) ​ ​ Mexican ​ ​ Corporate, other ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ and ​ ​ ​ ​ Open-pit ​ Unit ​ Operations ​ eliminations ​ Consolidated Net sales outside of segments ​ $ 6,109.0 ​ $ 454.3 ​ $ 4,370.8 ​ $ — ​ $ 10,934.1 Intersegment sales ​ — ​ ​ 145.9 ​ — ​ (145.9) ​ — Cost of sales (exclusive of depreciation, amortization and depletion) ​ 1,953.5 ​ 440.9 ​ 1,662.0 ​ (162.0) ​ 3,894.4 Selling, general and administrative ​ 62.8 ​ 10.0 ​ 40.1 ​ 12.3 ​ 125.2 Depreciation, amortization and depletion ​ 392.6 ​ 54.8 ​ 321.0 ​ 37.6 ​ 806.0 Exploration ​ 2.3 ​ 5.7 ​ 14.5 ​ 20.9 ​ 43.4 Operating income ​ $ 3,697.8 ​ $ 88.8 ​ $ 2,333.2 ​ $ (54.7) ​ ​ 6,065.1 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (349.9) Other income (expense) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (18.4) Income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,299.2) Equity earnings of affiliate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13.6 Non-controlling interest ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (14.1) Net income attributable to SCC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 3,397.1 Capital investment ​ $ 463.6 ​ $ 98.3 ​ $ 320.9 ​ $ 9.5 ​ $ 892.3 Property and mine development, net ​ $ 4,463.2 ​ $ 571.0 ​ $ 3,707.3 ​ $ 722.9 ​ $ 9,464.4 Total assets ​ $ 8,559.8 ​ $ 998.2 ​ $ 4,932.7 ​ $ 3,806.9 ​ $ 18,297.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ ​ (in millions) ​ ​ Mexican ​ ​ Corporate, other ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ and ​ ​ ​ ​ Open-pit ​ Unit ​ Operations ​ eliminations ​ Consolidated Net sales outside of segments ​ $ 4,412.4 ​ $ 418.9 ​ $ 3,153.6 ​ $ — ​ $ 7,984.9 Intersegment sales ​ ​ ​ ​ ​ 111.0 ​ ​ ​ (111.0) ​ — Cost of sales (exclusive of depreciation, amortization and depletion) ​ 1,991.6 ​ 383.0 ​ 1,679.5 ​ (124.3) ​ 3,929.8 Selling, general and administrative ​ 70.5 ​ 9.5 ​ 37.6 ​ 8.6 ​ 126.2 Depreciation, amortization and depletion ​ 366.7 ​ 42.5 ​ 328.7 ​ 37.7 ​ 775.6 Exploration ​ ​ 2.5 ​ 8.6 ​ 9.4 ​ 12.1 ​ 32.6 Operating income ​ $ 1,981.1 ​ $ 86.3 ​ $ 1,098.4 ​ $ (45.1) ​ ​ 3,120.7 Less: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (347.4) Other income (expense) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (27.5) Income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,174.4) Equity earnings of affiliate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.4 Non-controlling interest ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7.4) Net income attributable to SCC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,570.4 Capital investment ​ $ 317.1 ​ $ 72.1 ​ $ 195.0 ​ $ 8.0 ​ $ 592.2 Property and mine development, net ​ $ 4,470.5 ​ $ 548.2 ​ $ 3,735.1 ​ $ 704.9 ​ $ 9,458.7 Total assets ​ $ 7,236.1 ​ $ 967.2 ​ $ 5,169.9 ​ $ 3,573.3 ​ $ 16,946.5 ​
Schedule of opening and closing balances of receivables by reporting segment	​ The following table presents information regarding the opening and closing balances of receivables by reporting segment of the Company for the two years ended December 31, 2022 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican IMMSA Peruvian Corporate & ​ ​ ​ ​ Open-Pit ​ Unit ​ Operations ​ Elimination ​ Consolidated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022: ​ ​ ​ ​ ​ Trade receivables ​ $ 788.1 ​ $ 60.0 ​ $ 546.0 ​ $ — ​ $ 1,394.1 Related parties, current ​ 31.1 ​ 0.1 ​ 0.1 ​ 2.0 ​ 33.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021: ​ ​ ​ ​ ​ Trade receivables ​ $ 656.0 ​ $ 51.2 ​ $ 651.5 ​ $ — ​ $ 1,358.7 Related parties, current ​ ​ 46.9 ​ 0.2 ​ — ​ 2.0 ​ ​ 49.1 ​
Schedule of sales value per segment	​ The following table presents information regarding the sales value by reporting segment of the Company’s significant products for the three years ended December 31, 2022 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2022 ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ Mexican IMMSA Peruvian Corporate, Other & Total ​ ​ Open-pit ​ Unit ​ Operations ​ Eliminations ​ Consolidated Copper ​ $ 4,579.2 ​ $ 83.6 ​ $ 3,096.0 ​ $ (220.0) ​ $ 7,538.8 Molybdenum ​ 705.3 ​ — ​ 487.4 ​ — ​ 1,192.7 Zinc ​ — ​ 373.8 ​ — ​ 0.4 ​ 374.2 Silver ​ 241.9 ​ 133.8 ​ 95.3 ​ (68.4) ​ 402.6 Other ​ 246.3 ​ 75.3 ​ 229.8 ​ (11.7) ​ 539.7 Total ​ $ 5,772.6 ​ $ 666.5 ​ $ 3,908.5 ​ $ (299.7) ​ $ 10,047.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ Mexican IMMSA Peruvian Corporate, Other & Total ​ ​ Open-pit ​ Unit ​ Operations ​ Eliminations ​ Consolidated Copper ​ $ 5,182.1 ​ $ 94.9 ​ $ 3,625.4 ​ $ (74.1) ​ $ 8,828.3 Molybdenum ​ 538.4 ​ — ​ 514.7 ​ — ​ 1,053.1 Zinc ​ — ​ 289.0 ​ — ​ 0.5 ​ 289.5 Silver ​ 252.8 ​ 152.7 ​ 133.0 ​ (64.1) ​ 474.4 Other ​ 135.7 ​ 63.6 ​ 97.7 ​ (8.2) ​ 288.8 Total ​ $ 6,109.0 ​ $ 600.2 ​ $ 4,370.8 ​ $ (145.9) ​ $ 10,934.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ ​ ​ ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ Mexican IMMSA Peruvian Corporate, Other & Total (in millions) ​ Open-pit ​ Unit ​ Operations ​ Eliminations ​ Consolidated Copper ​ $ 3,762.1 ​ $ 72.1 ​ $ 2,727.3 ​ $ (48.4) ​ $ 6,513.1 Molybdenum ​ 275.2 ​ — ​ 235.1 ​ — ​ 510.3 Zinc ​ — ​ 247.8 ​ — ​ 1.6 ​ 249.4 Silver ​ 235.5 ​ 155.8 ​ 112.0 ​ (55.5) ​ 447.8 Other ​ 139.6 ​ 54.2 ​ 79.2 ​ (8.7) ​ 264.3 Total ​ $ 4,412.4 ​ $ 529.9 ​ $ 3,153.6 ​ $ (111.0) ​ $ 7,984.9 ​
Schedule of net sales by countries	The geographic breakdown of the Company’s sales for the three years ended December 31, 2022 was as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2022 ​ ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ Corporate & ​ ​ ​ ​ Open-Pit Unit Operations Elimination Consolidated The Americas: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico ​ $ 1,962.0 ​ $ 464.7 ​ $ — ​ $ (138.0) ​ $ 2,288.7 United States ​ 1,486.2 ​ 54.0 ​ 370.2 ​ ​ ​ 1,910.4 Peru ​ 162.2 ​ — ​ 614.5 ​ (161.7) ​ 615.0 Brazil ​ — ​ 41.3 ​ 410.7 ​ ​ ​ 452.0 Chile ​ 19.9 ​ — ​ 424.6 ​ ​ ​ 444.5 Other American countries ​ 35.4 ​ 2.6 ​ 27.7 ​ ​ ​ 65.7 Europe: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Switzerland ​ 693.7 ​ 44.6 ​ 739.5 ​ ​ ​ 1,477.8 Italy ​ 2.1 ​ 19.3 ​ 240.0 ​ ​ ​ 261.4 Spain ​ 420.7 ​ — ​ 37.5 ​ ​ ​ 458.2 Other European countries ​ 124.3 ​ 31.1 ​ 207.4 ​ ​ ​ 362.8 Asia: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ China ​ ​ 517.6 ​ ​ — ​ ​ 54.9 ​ ​ ​ ​ ​ 572.5 Singapore ​ 103.9 ​ 8.4 ​ 176.1 ​ ​ ​ 288.4 Japan ​ 88.0 ​ — ​ 528.2 ​ ​ ​ 616.2 Other Asian countries ​ 156.6 ​ 0.5 ​ 77.2 ​ ​ ​ 234.3 Total ​ $ 5,772.6 ​ $ 666.5 ​ $ 3,908.5 ​ $ (299.7) ​ $ 10,047.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ ​ ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ Corporate & ​ ​ ​ ​ Open-Pit Unit Operations Elimination Consolidated The Americas: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico ​ $ 1,893.3 ​ $ 387.6 ​ $ 5.0 ​ $ (145.9) ​ $ 2,140.0 United States ​ 1,648.1 ​ 52.3 ​ 233.1 ​ — ​ ​ 1,933.5 Peru ​ — ​ (0.3) ​ 586.6 ​ — ​ ​ 586.3 Brazil ​ — ​ 30.7 ​ 406.4 ​ — ​ ​ 437.1 Chile ​ 3.3 ​ — ​ 381.2 ​ — ​ ​ 384.5 Other American countries ​ 31.3 ​ 0.7 ​ 10.7 ​ — ​ ​ 42.7 Europe: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Switzerland ​ ​ 1,097.2 ​ 55.1 ​ 544.7 ​ — ​ ​ 1,697.0 Italy ​ ​ 0.7 ​ 8.8 ​ 298.3 ​ — ​ ​ 307.8 Spain ​ ​ 410.2 ​ — ​ 91.8 ​ — ​ ​ 502.0 Other European countries ​ ​ 275.8 ​ 45.5 ​ 410.9 ​ — ​ ​ 732.2 Asia: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ China ​ ​ 189.7 ​ ​ — ​ ​ 25.0 ​ ​ — ​ ​ 214.7 Singapore ​ ​ 441.9 ​ 19.4 ​ 496.5 ​ — ​ ​ 957.8 Japan ​ ​ 23.6 ​ — ​ 605.5 ​ — ​ ​ 629.1 Other Asian countries ​ ​ 93.9 ​ 0.4 ​ 275.1 ​ — ​ ​ 369.4 Total ​ $ 6,109.0 ​ $ 600.2 ​ $ 4,370.8 ​ $ (145.9) ​ $ 10,934.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ ​ ​ ​ ​ Mexican ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexican ​ IMMSA ​ Peruvian ​ Corporate & ​ ​ ​ ​ Open-Pit Unit Operations Elimination Consolidated The Americas: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico ​ $ 1,296.6 ​ $ 341.1 ​ $ — ​ $ (111.0) ​ $ 1,526.7 United States ​ 1,182.8 ​ 27.2 ​ 153.4 ​ — ​ ​ 1,363.4 Peru ​ — ​ 13.0 ​ 322.0 ​ — ​ ​ 335.0 Brazil ​ — ​ 18.7 ​ 214.3 ​ — ​ ​ 233.0 Chile ​ 18.8 ​ — ​ 202.3 ​ — ​ ​ 221.1 Other American countries ​ 36.8 ​ 2.9 ​ 2.7 ​ — ​ ​ 42.4 Europe: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Switzerland ​ ​ 898.2 ​ 69.9 ​ 475.2 ​ — ​ ​ 1,443.3 Italy ​ ​ 0.1 ​ 9.5 ​ 262.0 ​ — ​ ​ 271.6 Spain ​ ​ 199.4 ​ — ​ — ​ — ​ ​ 199.4 Other European countries ​ ​ 199.9 ​ 40.2 ​ 281.6 ​ — ​ ​ 521.7 Asia: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ China ​ ​ 132.6 ​ ​ — ​ ​ 12.9 ​ ​ — ​ ​ 145.5 Singapore ​ ​ 319.9 ​ 6.9 ​ 536.9 ​ — ​ ​ 863.7 Japan ​ ​ 46.9 ​ — ​ 532.6 ​ — ​ ​ 579.5 Other Asian countries ​ ​ 80.4 ​ 0.5 ​ 157.7 ​ — ​ ​ 238.6 Total ​ $ 4,412.4 ​ $ 529.9 ​ $ 3,153.6 ​ $ (111.0) ​ $ 7,984.9 ​
Schedule of provisional sales price adjustments included in accounts receivable and net sales	Provisional sales price adjustments included in accounts receivable and net sales were as follows at December, 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ 2022 2021 Copper ​ $ 49.9 ​ $ 1.2 Molybdenum ​ 167.2 ​ (9.0) Total ​ $ 217.1 ​ $ (7.8) ​
Schedule of provisionally priced copper and molybdenum sales outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ Sales volume Priced at ​ ​ ​ (million lbs.) ​ (per pound) ​ Month of settlement Copper ​ 276.5 ​ 3.81 ​ January through June 2023 Molybdenum ​ 14.3 ​ 31.85 ​ January through April 2023 ​

DESCRIPTION OF THE BUSINESS_ (D

DESCRIPTION OF THE BUSINESS: (Details)	Dec. 31, 2022
Percentage of ownership interest held by the parent company	88.90%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) t item segment $ / lb	Dec. 31, 2021 $ / lb	Dec. 31, 2020 $ / lb
Significant Accounting Policies
Increase in total reserves at a property to qualify as a major expansion (as a percent)	10%
Current price of copper (in dollars per pound) | $ / lb	3.30	3.30	2.816
Impairment in the carrying value of long-term assets | $	$ 0
Number of reportable segments | segment	3
Copper concentrates
Significant Accounting Policies
Long-term contracts with promises to deliver mineral	147,500
Copper cathodes
Significant Accounting Policies
Long-term contracts with promises to deliver mineral	48,000
Molybdenum concentrates
Significant Accounting Policies
Long-term contracts with promises to deliver mineral	31,587
Sulfuric acid
Significant Accounting Policies
Long-term contracts with promises to deliver mineral	382,500
Minimum
Financial information related to segments
Estimated useful lives of buildings and equipment	2 years
Significant Accounting Policies
Percentage of metal production sold under annual or longer-term contracts	80%
Maximum
Financial information related to segments
Maximum period after shipping within which pricing is based by customer contracts in most cases	3 months
Estimated useful lives of buildings and equipment	50 years
Significant Accounting Policies
Percentage of metal production sold under annual or longer-term contracts	90%
Peruvian Operations
Financial information related to segments
Number of open-pit copper mines | item	2
Mexican IMMSA Unit
Financial information related to segments
Number of underground poly metal mines | item	5

SHORT-TERM INVESTMENTS_ (Detail

SHORT-TERM INVESTMENTS: (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Short-term investment:
Trading securities	$ 208	$ 486.5
Weighted average interest rate (as a percent)	4.50%	0.30%
Available-for-sale	$ 0.3	$ 0.4
Weighted average interest rate (as a percent)	0.80%	0.70%
Total	$ 208.3	$ 486.9
Trading:
Interest earned	4.4	1.4
Unrealized gain (loss) at the end of the period		0.1
Available-for-sale:
Interest earned	35	7.2	$ 19.2
Investment redeemed	0.1	0.2
Contractual maturities of available-for-sale debt securities
Due after 10 years	0.3	0.4
Total debt securities	0.3	0.4
Maximum
Available-for-sale:
Interest earned	$ 0.1	$ 0.1

INVENTORIES_ (Details)

INVENTORIES: (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Metals at average cost:
Finished goods	$ 78.5	$ 58.6
Work-in-process	330.5	340.7
Ore stockpiles on leach pads	259.7	259.7
Supplies at average cost	345.2	313.9
Total current inventory	1,013.9	972.9
Inventory, long-term:
Ore stockpiles on leach pads	1,064.3	1,097.6
Total leaching costs added as long-term inventory of ore stockpiles in leach pads	264.3	247.4	$ 194
Long-term leaching inventories recognized as cost of sales	$ 297.5	$ 313.7	$ 359.1

PROPERTY_ (Details)

PROPERTY: (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property
Total property	$ 19,097.1	$ 18,276.8
Accumulated depreciation, amortization and depletion	(9,500.5)	(8,812.4)
Total property and mine development, net	9,596.6	9,464.4	$ 9,458.7
Depreciation and depletion expense	790.3	797.3	$ 766.4
Buildings and equipment
Property
Total property	16,718.3	15,993.8
Construction in progress
Property
Total property	1,747	1,668
Mine development
Property
Total property	273.2	273.2
Mineral assets
Property
Total property	83.2	83.2
Land, other than mineral
Property
Total property	$ 275.4	$ 258.6

INTANGIBLE ASSETS_ (Details)

INTANGIBLE ASSETS: (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Intangible assets
Intangible assets excluding goodwill, gross	$ 211.3	$ 206.4
Accumulated amortization	(118.5)	(110.2)
Goodwill	41.9	41.9
Intangible assets, net	134.7	138.1
Amortization expense:
Amortization expense	7.3	8.7	$ 9.2
Estimated amortization expense:
2023	6.9
2024	5.8
2025	5.1
2026	1.8
2027	1.8
Total 2023 - 2027	21.4
Average annual	4.3
Buenavista del Cobre, S.A. de C.V
Intangible assets
Goodwill	17
El Pilar
Intangible assets
Goodwill	24.9
Mining concessions
Intangible assets
Intangible assets excluding goodwill, gross	121.2	121.2
Accumulated amortization	(42.2)	(40.4)
Mine engineering and development studies
Intangible assets
Intangible assets excluding goodwill, gross	19.8	19.8
Accumulated amortization	(19.2)	(18.2)
Software
Intangible assets
Intangible assets excluding goodwill, gross	70.3	65.4
Accumulated amortization	$ (57.1)	$ (51.6)

INCOME TAXES_ - TCJA (Details)

INCOME TAXES: - TCJA (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2009
Income Taxes
Percentage of ownership by parent	88.90%
U.S. statutory rate (as a percent)	21%	21%	21%
Maximum percentage of expenses excluding cost of goods sold	3%
Minimum | Years 2019 through 2025
Income Taxes
BEAT tax rate (as a percent)	10%
Minimum | Years thereafter
Income Taxes
BEAT tax rate (as a percent)	12.50%
AMC | Minimum
Income Taxes
Percentage of ownership by parent				80%

INCOME TAXES_ - Provision (Deta

INCOME TAXES: - Provision (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
U.S. federal and state:
Current	$ 0.1
Provision for income taxes	0.1
Foreign (Peru and Mexico):
Current	1,443.1	$ 2,425.5	$ 1,237.9
Deferred	118.6	(126.3)	(63.5)
Uncertain tax position	34.3
Provision for income taxes	1,596	2,299.2	1,174.4
Total income tax provision	1,596.1	2,299.2	1,174.4
Earnings by location:
U.S.	0.5	(32.4)	(15.3)
Peru	1,167.8	1,962.8	723.9
Mexico	3,079.5	3,766.4	2,037.2
Foreign	4,247.3	5,729.2	2,761.1
Income before income taxes	$ 4,247.8	$ 5,696.8	$ 2,745.8

INCOME TAXES_ - Effective tax r

INCOME TAXES: - Effective tax rate (Details) - item	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of the statutory income tax rate to the effective tax rate
Expected tax at U.S. statutory rate (as a percent)	21%	21%	21%
Foreign tax at other than statutory rate, net of foreign tax credit benefit (as a percent)	14.70%	13.80%	13.70%
Percentage depletion (as a percent)	(2.10%)	(1.80%)	(2.20%)
Other permanent differences (as a percent)	(0.10%)	(0.30%)	0.10%
Additional valuation allowance on U.S. deferred tax assets, foreign tax credits and U.S. tax effect on Peruvian deferred taxes	5.50%	8.40%	8.90%
Increase (decrease) in unrecognized tax benefits for uncertain tax positions (as a percent)	1.50%	(0.50%)	(0.10%)
Amounts (over) / under provided in prior years	(1.70%)		(0.10%)
Other (as a percent)	(1.20%)	(0.20%)	1.50%
Effective income tax rate	37.60%	40.40%	42.80%
Number of jurisdictions where company files income tax returns	3
Duration for which statutory tax rates for Peru and Mexico are considered to determine effective tax rate	3 years
Mexico
Reconciliation of the statutory income tax rate to the effective tax rate
Expected tax at U.S. statutory rate (as a percent)	30%	30%	30%
Peru
Reconciliation of the statutory income tax rate to the effective tax rate
Expected tax at U.S. statutory rate (as a percent)	29.50%	29.50%	29.50%

INCOME TAXES_ - Tax assets and

INCOME TAXES: - Tax assets and liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets:
Inventories	$ 28.5	$ 78
Capitalized exploration expenses	12.4	12.5
U.S. foreign tax credit carryforward, net of Uncertain Tax Positions	1,653.5	1,479.2
U.S. tax effect of Peruvian deferred tax liability	112.5	75
U.S. tax effect of Peruvian Uncertain Tax Positions	45.1
Reserves	249.6	284.5
Property, plant and equipment		9.5
Deferred workers participation	15.9	11.1
Accrued salaries, wages and vacations	7.4	8.2
Sales price adjustment (PUI)		2.6
Social responsibility expenses		5.1
Deferred charges	28.6	31.6
Valuation allowance on U.S. deferred tax assets, foreign tax credits and U.S. tax effect of Peruvian deferred	(2,053.7)	(1,820)
Accrued royalty and special mining tax	10.8	23.3
Other	21.9	5.5
Total deferred tax assets	132.5	206.1
Liabilities:
Property, plant and equipment	(19.7)
Social responsibility expenses	(7.7)
Sales price adjustment (PUI)	(29)
Other		(8.2)
Total deferred tax liabilities	(56.4)	(8.2)
Total net deferred tax assets	76.1	$ 197.9
Increase in valuation allowance	$ 233.7
U.S. statutory rate (as a percent)	21%	21%	21%

INCOME TAXES_ - Carryforward (D

INCOME TAXES: - Carryforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Foreign tax credits
Other U.S. tax credits	$ 0
Unrecognized Tax Benefits	$ 82.7		$ 66.1	$ 58.4
Income Tax Rate (as a percent)	21%	21%	21%
Mexico
Foreign tax credits
Unrecognized Tax Benefits	$ 0
Income Tax Rate (as a percent)	30%	30%	30%
Peru
Foreign tax credits
Unrecognized Tax Benefits	$ 38.8
Income Tax Rate (as a percent)	29.50%	29.50%	29.50%
Foreign
Foreign tax credits
Tax credits carryback period	1 year
Tax credits carryforward period	10 years
Unrecognized Tax Benefits	$ 17.2
Foreign tax credit carryforward	1,670.7
Foreign tax credit carryforward net of unrecognized tax benefit	1,653.5
2024 | Foreign
Foreign tax credits
Foreign tax credit carryforward	72.2
2025 | Foreign
Foreign tax credits
Foreign tax credit carryforward	146.7
2026 | Foreign
Foreign tax credits
Foreign tax credit carryforward	96.1
2028 | Foreign
Foreign tax credits
Foreign tax credit carryforward	175
2029 | Foreign
Foreign tax credits
Foreign tax credit carryforward	219.9
2030 | Foreign
Foreign tax credits
Foreign tax credit carryforward	247.6
2031 | Foreign
Foreign tax credits
Foreign tax credit carryforward	582.2
2032 | Foreign
Foreign tax credits
Foreign tax credit carryforward	$ 131

INCOME TAXES_ - Other (Details)

INCOME TAXES: - Other (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2019 USD ($)
Income Taxes
Total cash, cash equivalents and short-term investments	$ 2,278
Deferred tax asset	132.5	$ 206.1
State income tax liability	0
Withholding taxes due to the tax treaty between the United States and Mexico	0
Changes in unrecognized tax benefits
Unrecognized tax benefits, opening balance		66.1	$ 58.4
Gross decreases - tax positions in prior period		(10.9)
Gross increases - tax positions in prior period	130.9
Gross decreases - current-period tax positions	(10.7)	(1.1)	(7.7)
Decreases related to settlements with taxing authorities	(37.5)	(54.1)
Increase (decrease) in unrecognized tax benefits	82.7	(66.1)	7.7
Unrecognized tax benefits, ending balance	82.7		66.1
Amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate	$ 65.5
Number of major tax jurisdictions | item	3
Foreign subsidiaries
Income Taxes
Total cash, cash equivalents and short-term investments	$ 903.6
Deferred tax asset	300
Foreign
Changes in unrecognized tax benefits
Unrecognized tax benefits, ending balance	$ 17.2
Peru
Income Taxes
Royalty charge assessed as a percentage of net sales	1%
Royalty charges	$ 71.4	140.8	60.6
Provision for royalty tax	35.8	97.8	31.4
Peruvian special mining tax	56.4	114	$ 50
Changes in unrecognized tax benefits
Unrecognized tax benefits, ending balance	38.8
Accrued interest and penalties included in liability for uncertain tax positions	$ 26.7				$ 26.7
Peru | Forecast
Changes in unrecognized tax benefits
Income tax expected to be paid				$ 24.8
Peru | Minimum
Income Taxes
Mining royalty tax (as a percent)	1%
Special mine tax (as a percent)	2%
Peru | Maximum
Income Taxes
Mining royalty tax (as a percent)	12%
Special mine tax (as a percent)	8.40%
Mexico
Income Taxes
Mining royalty tax (as a percent)	7.50%
Additional royalty tax over gross income from sales of gold, silver and platinum (as a percent)	0.50%
Additional royalty over sales revenue from gold, silver and platinum	$ 1.5
Changes in unrecognized tax benefits
Unrecognized tax benefits, ending balance	0
United States
Changes in unrecognized tax benefits
Accrued interest and penalties included in liability for uncertain tax positions	$ 0	$ 0

WORKERS' PARTICIPATION_ (Detail

WORKERS' PARTICIPATION: (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Statutory workers' participation
Current	$ 347.2	$ 344.5	$ 248.5
Deferred	29.1	(72.8)	19.8
Workers' participation expense (in USD)	$ 376.3	$ 271.7	$ 268.3
Peru
Statutory workers' participation
Provision for workers' participation as a percentage of pre-tax earnings	8%
Number of months for which an individual worker's salary is capped for consideration of annual individual worker participation	18 months
Maximum taxable units contributed by employer to benefit fund (in Peruvian taxable units) | item	2,200
Maximum employer contribution to benefit fund (in USD)	$ 2.7
Mexico
Statutory workers' participation
Provision for workers' participation as a percentage of pre-tax earnings	10%

LEASES_ (Details)

LEASES: (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases
Lessee, operating lease, option to extend	false
Lessee, operating lease, option to terminate	false
The weighted average remaining lease term	8 years
The weighted average discount rate	3.87%
Total lease expense	$ 115.7	$ 108.4	$ 114.8
Maturities of lease liabilities
2023	115.5
2024	107.5
2025	106.2
2026	106
2027	105.7
After 2027	523.4
Total lease payments	1,064.3
Less: interest on lease liabilities	(212.9)
Present value of lease payments	851.4
Cost of sales (exclusive of depreciation, amortization and depletion)
Leases
Total lease expense	115.5	108.1	114.4
Selling, general and administrative
Leases
Total lease expense	0.1	0.1	0.2
Exploration
Leases
Total lease expense	$ 0.1	$ 0.2	$ 0.2
Minimum
Leases
Remaining lease terms	1 year
Maximum
Leases
Remaining lease terms	10 years

ASSET RETIREMENT OBLIGATION_ (D

ASSET RETIREMENT OBLIGATION: (Details) $ in Millions		3 Months Ended	12 Months Ended
	Jun. 24, 2019	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)	Jan. 31, 2023 USD ($)
ASSET RETIREMENT OBLIGATION:
Asset retirement obligation, increase (decrease) in asset due to revision in estimate			$ (43.3)
Maximum annual guarantees secured	50%
Percentage of guarantee for Lima complex			50%
Percentage of security for LOC			50%
Total guarantees						$ 77.1
Asset retirement obligation activity
Dismantling cost related to the Quebalix IV closure plan			$ 11.9
Balance at the beginning of the year		$ 562.9	562.9	$ 545
Changes in estimates			(10.8)
Additions			11.9
Closure payments			(7.1)	(5.6)
Accretion expense			28.4	23.5
Balance at the end of the year			585.3	$ 562.9
Cost of goods sold
ASSET RETIREMENT OBLIGATION:
Asset retirement obligations, increase (decrease) in estimate			$ (16.2)
Peru
ASSET RETIREMENT OBLIGATION:
Period after which successive reviews are required by the law (in years)			5 years
Number of units with future closure costs recognized as an asset retirement obligation | item			3
Change in asset retirement Liability			$ (59.5)
Asset retirement obligation activity
Changes in estimates					$ 28.1
Mexico
Asset retirement obligation activity
Changes in estimates		$ 43.3

FINANCING_ (Details)

FINANCING: (Details) $ in Millions	12 Months Ended	89 Months Ended
	Dec. 31, 2022 USD ($) item grade	Nov. 30, 2012 USD ($) item	Dec. 31, 2021 USD ($)	Sep. 26, 2019 USD ($)
FINANCING
Face amount	$ 6,351.2	$ 6,200	$ 6,651.2
Issuance discount	(63.4)		(65.6)
Issuance costs	(36.6)		(38)
Long-term debt, Carrying Value	6,251.2		6,547.6
Less, current portion			299.7
Long-term debt, net of current portion	$ 6,251.2		6,247.9
Number of times for which senior unsecured notes were issued | item		8
Percentage of principal amount at which notes may be required to be repurchased in event of change of control in the entity	101%
Minimum
FINANCING
Number of decreased gradations that could cause a change of control triggering event | grade	1
3.500% Senior unsecured notes due 2022
FINANCING
Face amount			300
Issuance discount			(0.1)
Issuance costs			(0.2)
Long-term debt, Carrying Value			$ 299.7
Interest rate (as a percent)			3.50%
3.875% Senior unsecured notes due 2025
FINANCING
Face amount	$ 500		$ 500
Issuance discount	(0.7)		(1)
Issuance costs	(0.7)		(1)
Long-term debt, Carrying Value	$ 498.6		$ 498
Interest rate (as a percent)	3.875%		3.875%
9.250% Yankee Bonds due 2028
FINANCING
Face amount	$ 51.2		$ 51.2
Long-term debt, Carrying Value	$ 51.2		$ 51.2
Interest rate (as a percent)	9.25%		9.25%
9.250% Yankee Bonds due 2028 | Minera Mexico | Minimum
FINANCING
Ratio of EBITDA to interest expense | item	2.5
7.500% Senior unsecured notes due 2035
FINANCING
Face amount	$ 1,000		$ 1,000
Issuance discount	(11)		(11.6)
Issuance costs	(7.3)		(7.6)
Long-term debt, Carrying Value	$ 981.7		$ 980.8
Interest rate (as a percent)	7.50%		7.50%
6.750% Senior unsecured notes due 2040
FINANCING
Face amount	$ 1,100		$ 1,100
Issuance discount	(6.6)		(6.7)
Issuance costs	(5.2)		(5.4)
Long-term debt, Carrying Value	$ 1,088.2		$ 1,087.9
Interest rate (as a percent)	6.75%		6.75%
5.250% Senior unsecured notes due 2042
FINANCING
Face amount	$ 1,200		$ 1,200
Issuance discount	(17.6)		(18.1)
Issuance costs	(5.9)		(6)
Long-term debt, Carrying Value	$ 1,176.5		$ 1,175.9
Interest rate (as a percent)	5.25%		5.25%
5.875% Senior unsecured notes due 2045
FINANCING
Face amount	$ 1,500		$ 1,500
Issuance discount	(15.4)		(15.8)
Issuance costs	(8.2)		(8.3)
Long-term debt, Carrying Value	$ 1,476.4		$ 1,475.9
Interest rate (as a percent)	5.875%		5.875%
4.500% Minera Mexico Senior unsecured notes due 2050
FINANCING
Face amount	$ 1,000		$ 1,000
Issuance discount	(12.1)		(12.3)
Issuance costs	(9.3)		(9.5)
Long-term debt, Carrying Value	$ 978.6		$ 978.2
Interest rate (as a percent)	4.50%		4.50%
4.500% Minera Mexico Senior unsecured notes due 2050 | Minera Mexico S.A. de C.V. Notes
FINANCING
Face amount				$ 1,000
Issuance discount				(12.7)
Issuance costs				$ (9.8)
Interest rate (as a percent)				4.50%

FINANCING_ - Outstanding borrow

FINANCING: - Outstanding borrowing (Details) $ in Millions	Dec. 31, 2022 USD ($)
Aggregate maturities of the outstanding borrowings
2025	$ 500
Thereafter	5,851.2
Total	6,351.2
Debt discount valuation account	$ 100

BENEFIT PLANS_ - Other (Details

BENEFIT PLANS: - Other (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) plan	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Benefit plans
Number of noncontributory defined benefit pension plans | plan	2
Post retirement defined benefit plans and defined contribution plan
Defined benefit plan, net periodic benefit costs
Service cost	$ 1.8	$ 1.4	$ 1.4
Interest cost	2.3	1.5	1.7
Expected return on plan assets	(3.9)	(3.3)	(2.9)
Amortization of net actuarial loss	0.1	(0.1)	0.1
Amortization of prior service cost / (credit)	0.2	0.2	0.2
Settlement / Curtailment			(0.4)
Amortization of net loss (gain)	0.3	0.3	0.2
Net periodic benefit cost	0.8		0.3
Change in benefit obligation:
Projected benefit obligation at beginning of year	36.3	29.9
Service cost	1.8	1.4	1.4
Interest cost	2.3	1.5	1.7
Benefits paid	(2.8)	(2.2)
Actuarial (gain)/loss	1	6.7
Actuarial gain assumption changes	(1.7)	(0.4)
Inflation adjustment	1.7	(0.6)
Projected benefit obligation at end of year	38.6	36.3	29.9
Change in plan assets:
Fair value of plan assets at beginning of year	56	54.4
Actual return on plan assets	1.9	4.3
Employer contributions	(0.8)	(0.6)
Benefits paid	(0.8)	(0.8)
Currency exchange rate adjustment	2.9	(1.3)
Fair value of plan assets at end of year	59.2	56	54.4
Funded status at end of year	20.6	19.7
Amounts recognized in statement of financial position
Non-current assets	20.6	19.7
Total	20.6	19.7
Amounts recognized in accumulated other comprehensive income
Net loss (gain)	6.7	6.2
Prior service cost	1.1	1
Total, net of tax	7.8	7.2	4.2
Net loss (gain), income taxes	(4.8)	(4.2)
Reconciliation of accumulated other comprehensive income:
Accumulated other comprehensive income at beginning of plan year	7.2	4.2
Net loss/(gain) occurring during the year	0.8	3.3
Net loss/(gain) amortized during the year	(0.4)	(0.2)
Currency exchange rate adjustment	0.2	(0.1)
Net adjustment to accumulated other comprehensive income	0.6	3
Accumulated other comprehensive income at end of plan year	7.8	7.2	$ 4.2
Net adjustment to accumulated other comprehensive income, income taxes	(0.5)	(1.9)
Amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost, net of income tax
Net loss / (gain)	0.8	3.3
Amortization of net (loss) gain	(0.4)	(0.2)
Total amortization expenses	0.4	$ 3.1
Expected Benefit Payments
2023	7.5
2024	3.2
2025	3.7
2026	3.6
2027	4.2
2028 to 2032	20.2
Total	$ 42.4
Post retirement defined benefit plans and defined contribution plan | Expatriate Plan
Assumptions used to determine the pension obligation and other post-retirement benefits and cost
Discount rate (as a percent)	4.85%	2.40%	1.90%
Expected long-term rate of return on plan asset (as a percent)	4%	3%	3.50%
Post retirement defined benefit plans and defined contribution plan | Mexican Health Plan
Assumptions used to determine the pension obligation and other post-retirement benefits and cost
Discount rate (as a percent)	10.09%	8.02%	7.43%
Expected long-term rate of return on plan asset (as a percent)	10.09%	8.02%	7.43%
Rate of increase in future compensation level (as a percent)	4.75%	4.50%	4.50%
Post-retirement Health care plans
Defined benefit plan, net periodic benefit costs
Interest cost	$ 1.7	$ 1.6	$ 1.3
Amortization of net loss (gain)	0.1	0.2
Net periodic benefit cost	1.8	1.8	1.3
Change in benefit obligation:
Projected benefit obligation at beginning of year	21.4	23.8
Interest cost	1.7	1.6	1.3
Benefits paid	(1.6)	(1.4)
Actuarial (gain)/loss	(2.6)	(2)
Inflation adjustment	1.4	(0.6)
Projected benefit obligation at end of year	20.3	21.4	23.8
Change in plan assets:
Funded status at end of year	20.3	21.4
Amounts recognized in statement of financial position
Non-current liabilities	(20.3)	(21.4)
Total	(20.3)	(21.4)
Amounts recognized in accumulated other comprehensive income
Net loss (gain)	1.6	3.3
Total, net of tax	1.6	3.3	4.6
Net loss (gain), income taxes	(0.5)	(1.2)
Reconciliation of accumulated other comprehensive income:
Accumulated other comprehensive income at beginning of plan year	3.3	4.6
Net loss/(gain) occurring during the year	(1.8)	(1.1)
Net loss/(gain) amortized during the year	(0.1)	(0.1)
Currency exchange rate adjustment	0.2	(0.1)
Net adjustment to accumulated other comprehensive income	(1.7)	(1.3)
Accumulated other comprehensive income at end of plan year	1.6	3.3	$ 4.6
Net adjustment to accumulated other comprehensive income, income taxes	(0.5)	(1.2)
Amounts in accumulated other comprehensive income amortized and recognized as a component of net periodic benefit cost, net of income tax
Net loss / (gain)	(1.8)	(1.1)
Amortization of net (loss) gain	(0.1)	(0.1)
Total amortization expenses	(1.9)	$ (1.2)
Expected Benefit Payments
2023	1.6
2024	1.6
2025	1.7
2026	1.7
2027	1.7
2028 to 2032	9.4
Total	$ 17.7
Post-retirement Health care plans | Expatriate Plan
Assumptions used to determine the pension obligation and other post-retirement benefits and cost
Discount rate (as a percent)	4.85%	2.40%	1.90%
Post-retirement Health care plans | Mexican Health Plan
Expected Benefit Payments
Assumed trend rate for covered health care benefit cost (as a percent)	4.75%
Effect of one percentage-point change in assumed other benefit cost trend rates
Effect of one percentage-point increase on total service and interest cost components	$ 2.1
Effect of one percentage-point decrease on total service and interest cost components	1.8
Effect of one percentage-point increase on post-retirement benefit obligation	20.9
Effect of one percentage-point decrease on post-retirement benefit obligation	$ 19
Post-retirement Health care plans | Weighted average | Mexican Health Plan
Assumptions used to determine the pension obligation and other post-retirement benefits and cost
Discount rate (as a percent)	10.09%	8.02%	7.43%

BENEFIT PLANS_ - Post retiremen

BENEFIT PLANS: - Post retirement (Details) - Post retirement defined benefit plans and defined contribution plan - Mexican Health Plan $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) entity	Dec. 31, 2021
Assumptions used to determine the pension obligation and other post-retirement benefits and cost
Number of financial institutions managing plan assets | entity	3
Plan obligations as a percentage of benefit obligation	100%
Asset allocation (as a percent)	100%	100%
Expected employer contribution in next fiscal year | $	$ 6.7
Parent Company (Grupo Mexico)
Assumptions used to determine the pension obligation and other post-retirement benefits and cost
Asset allocation (as a percent)	24%
Treasury bills
Assumptions used to determine the pension obligation and other post-retirement benefits and cost
Asset allocation (as a percent)	76%	73%
Equity securities
Assumptions used to determine the pension obligation and other post-retirement benefits and cost
Asset allocation (as a percent)	24%	27%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES: - Environmental matters (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2011 category person
Environmental costs
Environmental capital investment	$ 61.4	$ 68.7	$ 37.8
Peru
Environmental costs
Environmental capital investment	8.7	6.4	3.3
Mexico
Environmental costs
Environmental capital investment	$ 52.7	$ 62.3	$ 41.1
Number of categories of collective actions | category				3
Minimum number of people claiming injury due to collective action initiative in Civil Federal Procedures Code (CFPC) | person				30

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES: - Guaymas sulfuric acid spill (Details)			12 Months Ended
	Jul. 19, 2019 item	Jul. 09, 2019 m³	Dec. 31, 2022 USD ($) item T $ / item
Climate change [Member]
Number of business units | item			2
Threshold annual greenhouse gas emissions | T			100,000
Climate change [Member] | Minimum
Tax rate per tonne Of Carbon dioxide | $ / item			1.2
Threshold annual greenhouse gas emissions reporting to National emissions registry | T			25,000
Climate change [Member] | Maximum
Tax rate per tonne Of Carbon dioxide | $ / item			20
Average cost per business unit | $			$ 6,000
Marine Terminal in Guaymas
Volume of sulfuric acid discharged in the incident at Guaymas | m³		3
Water volume at Guaymas bay | m³		340,000,000
Number of times of renewal | item	4
Number of years of each renewal	2 years

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES: - Litigation matters (Details)	3 Months Ended	6 Months Ended	12 Months Ended
	Sep. 30, 2016 lawsuit	Jun. 30, 2015 lawsuit item	Dec. 31, 2022 claim lawsuit item	Dec. 31, 2015 lawsuit item	Dec. 31, 2018 item	Dec. 31, 2017 lawsuit	Dec. 31, 2016 lawsuit
Litigation Matter
Number of collective action lawsuits		6
Number of subsidiaries against which lawsuits were filed | item		2
Number of collective action lawsuits dismissed		3
Number of lawsuits in process			3
Number of civil actions seeking damages						33
Number Of Constitutional Action Lawsuits				4
Number of subsidiaries to which environmental impact authorizations were granted | item				1
Tia Maria
Litigation Matter
Number of lawsuits			5
Buenavista del Cobre, S.A. de C.V
Litigation Matter
Number of civil actions seeking damages				8	3		3
Number of resolutions | claim			45
Francisca Garcia Enriquez
Litigation Matter
Number of additional constitutional lawsuits filed				2
Mario Alberto Salcido et al; Maria Elena Heredia Bustamante et al; Martin Eligio Ortiz Gamez et al and Maria de los Angeles Enriquez Bacame et al
Litigation Matter
Number of additional constitutional lawsuits filed	4
Mario Alberto Salcido et al; Maria Elena Heredia Bustamante et al; Martin Eligio Ortiz Gamez et al and Maria de los Angeles Enriquez Bacame et al | Mexico
Litigation Matter
Number of monitoring wells downstream from the dam | item			3
Period to submit Semarnat			2 years
Norberto Bustamante et al
Litigation Matter
Number of additional constitutional lawsuits filed			2
Acciones Colectivas de Sinaloa
Litigation Matter
Number of lawsuits in process			2
Defensa Colectiva
Litigation Matter
Number of lawsuits in process			1

COMMITMENTS AND CONTINGENCIES_5

COMMITMENTS AND CONTINGENCIES: - Labor matters (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2022 item	Dec. 31, 2022 item employee	Dec. 31, 2021 PEN (S/) item	Dec. 31, 2021 USD ($) item
Ilo and Cuajone
Labor matters
Number of labor unions	6
Peru | Labor Matters
Labor matters
Percentage of labor unionized		76.50%
Total number of workers | employee		4,947
Number of labor unions		6
Number of labor unions represent majority of workers		0
Extended term of agreement			6 years	6 years
Annual salary increase (as a percent)			5%	5%
Number of labor unions of collective agreement signed			6	6
Long term agreement bonus			S/ 10,000	$ 2,618
Peru | Labor Matters | Minimum
Labor matters
Term of agreement			3 years	3 years
Labor expense			S/ 45,000	$ 11,780
Peru | Labor Matters | Maximum
Labor matters
Term of agreement			6 years	6 years
Labor expense			S/ 90,000	$ 23,560

COMMITMENTS AND CONTINGENCIES_6

COMMITMENTS AND CONTINGENCIES: - Others (Details) S/ in Millions, $ in Millions		1 Months Ended						12 Months Ended
	Feb. 20, 2020 MW	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2018 USD ($) T	May 31, 2016 MW	Jul. 31, 2014 MW	Jun. 30, 2014 MW	Dec. 31, 2022 USD ($) item	Dec. 31, 2022 PEN (S/) item	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Other commitments:
Property net book value								$ 9,596.6		$ 9,464.4	$ 9,458.7
Commitment for capital projects								405.5
Michiquillay
Other commitments:
Pre-operational period		12 years
Extended pre-operational period		3 years
Investment in projects in next five years		$ 20
Period of investment in projects		5 years
Toquepala Concentrator Expansion | Peru
Other commitments:
Amount committed to funding for social and infrastructure improvement projects								116.5	S/ 445.0
Commitment liability recorded in the balance sheet								31.2
Development Fund Moquegua Region | Peru
Other commitments:
Amount committed to funding for social and infrastructure improvement projects								$ 261.8	S/ 1,000.0
Number of schools agreed for construction. | item								3	3
Amount committed to funding for school projects								$ 4.8	S/ 18.2
Copper | Michiquillay | Peru
Other commitments:
Contingent contractual obligation				$ 400
Estimated mineralized material (in tons) | T				2,288,000,000
Copper grade percentage				0.43%
Annual production ( in tons) | T				225,000
Initial mine life				25 years
Contractual obligation paid on project			$ 12.5	$ 12.5
Remaining amount to pay if project is developed				$ 375
Educational Project | Toquepala Concentrator Expansion | Peru
Other commitments:
Amount committed to funding for social and infrastructure improvement projects								4.9	18.8
Educational Project | Development Fund Moquegua Region | Peru
Other commitments:
Amount committed to funding for social and infrastructure improvement projects								28.4	108.4
Construction of Cularjahuira Dam | Toquepala Concentrator Expansion | Peru
Other commitments:
Amount committed to funding for social and infrastructure improvement projects								4.1	15.6
Study Of Engineering For Collazas Dam | Toquepala Concentrator Expansion | Peru
Other commitments:
Amount committed to funding for social and infrastructure improvement projects								0.7	2.6
Water Treatment | Development Fund Moquegua Region | Peru
Other commitments:
Amount committed to funding for social and infrastructure improvement projects								27.6	105.5
Amount committed for funding social and infrastructure improvement projects, build tracks and sidewalks								1.7	6.4
Social Investment For Taxes | Toquepala Concentrator Expansion | Peru
Other commitments:
Amount committed to funding for social and infrastructure improvement projects								25.6	97.7
Social Investment For Taxes | Development Fund Moquegua Region | Peru
Other commitments:
Amount committed to funding for social and infrastructure improvement projects								$ 39.9	S/ 152.3
Number of Infrastructure Projects Agreed for Construction | item								4	4
Electroperu S.A | Power purchase agreements | Peru
Other commitments:
Purchase agreement, contracted power capacity (in megawatts) | MW							120
Term of power purchase agreement related to sale of power plant							20 years
Parque Eolico de Fenicias, S. de R.L. de C.V | Power purchase agreements | Mexico
Other commitments:
Purchase agreement, contracted power capacity (in megawatts) | MW	611,400
Term of power purchase agreement related to sale of power plant	20 years
Kallpa | Power purchase agreements | Peru
Other commitments:
Purchase agreement, contracted power capacity (in megawatts) | MW						120
Term of power purchase agreement related to sale of power plant						10 years
Kallpa | Power purchase agreements | Peru | Maximum
Other commitments:
Purchase agreement, contracted power capacity (in megawatts) | MW					80

STOCKHOLDERS' EQUITY_ - Treasur

STOCKHOLDERS' EQUITY: - Treasury Stock (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Activity in treasury stock
Balance at the beginning of the period	$ 3,074
Balance at the end of the period	$ 3,107.6	$ 3,074
Parent Company (Grupo Mexico) common shares
Activity in treasury stock
Treasury stock balance at the end of the period (in shares)	111,497,617	111,509,217
Parent Company (Grupo Mexico)
Activity in treasury stock
Treasury stock balance at the end of the period (in shares)	74,367,673
TREASURY STOCK: | Parent Company (Grupo Mexico) common shares
Activity in treasury stock
Balance at the beginning of the period	$ 2,767.2	$ 2,767.5
Used for corporate purposes	(0.3)	(0.3)	$ (0.4)
Balance at the end of the period	2,766.9	2,767.2	2,767.5
TREASURY STOCK: | Parent Company (Grupo Mexico)
Activity in treasury stock
Balance at the beginning of the period	306.8	296
Other activity, including dividend, interest and foreign currency transaction effect	33.9	10.8	15
Balance at the end of the period	$ 340.7	$ 306.8	$ 296

STOCKHOLDERS' EQUITY_ - Repurch

STOCKHOLDERS' EQUITY: - Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2008
SCC share repurchase program:
Percentage of ownership by parent		88.90%
Amount authorized for share repurchase program		$ 3,000	$ 500
Total Number of Shares Purchased		119,500,000
Cost of purchase of shares		$ 2,900
Closing price of NYSE (in dollars per share)		$ 60.39
Maximum Number of Shares that May Yet Be Purchased Under the Plan @ $60.89		1,400,000
Parent Company (Grupo Mexico) common shares
SCC share repurchase program:
Shares purchased	350,000
Percentage of ownership by parent	88.92%

STOCKHOLDERS' EQUITY_ - Directo

STOCKHOLDERS' EQUITY: - Directors Stock Award Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Parent Company (Grupo Mexico)
Activity in directors' stock award plan
Treasury stock balance at the end of the period (in shares)		79,800,655
Directors' Stock Award Plan
Share based Compensation Plan
Common shares received on election as director	1,200
Additional shares issued at each annual general meeting	1,200
Total SCC shares reserved for the plan	600,000	600,000
Period of extension of plan	5 years
Increased share awards issued to directors	1,600
Stock based compensation expense	$ 0.3	$ 0.3
Activity in directors' stock award plan
Total shares granted at the beginning of the period (in shares)	(405,200)	(391,600)
Granted (in shares)	11,600	13,600
Total shares granted at the end of the period (in shares)	(416,800)	(405,200)
Remaining shares reserved	183,200	194,800
New 2021 grant
Share based Compensation Plan
Numbers of shares shall be granted quarterly and conditioned upon the attendance of each director to each Board meeting	1,600

STOCKHOLDERS' EQUITY_ - Employe

STOCKHOLDERS' EQUITY: - Employee Stock Purchase Plan (Details) $ / shares in Units, $ in Millions	1 Months Ended				12 Months Ended
	Nov. 30, 2018 $ / shares	Nov. 30, 2018 $ / shares	Jan. 31, 2015 $ / shares	Jan. 31, 2015 $ / shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares
Retained earnings
Dividends paid as cash dividend (in dollars per share)					$ 3.50	$ 3.20	$ 1.50
Peruvian Operations
Non-controlling interest
Investment shareholders' interest in Peruvian Branch (as a percent)					0.71%
Employee Stock Purchase 2015 Plan
Information related to compensation cost
Purchase price for initial subscription (in dollars per share) | (per share)			$ 2.63	$ 38.44	$ 2.63
Percentage of title acquired by employee in every two years on shares paid in previous two years					50%
Period of plan					8 years
Ratio of bonus shares granted to participant					0.1
Stock based compensation expense | $					$ 0.6	$ 0.6	$ 0.6
Unrecognized compensation expense | $					$ 0.2	$ 0.8	$ 1.4
Stock award activity, Shares
Outstanding shares at the beginning of the period | shares					867,234	1,264,410
Exercised (in shares) | shares					(21,339)	(397,176)
Outstanding shares at the end of the period | shares					845,895	867,234	1,264,410
Unit Weighted Average Grant Date Fair Value
Outstanding shares at the beginning of the period (in dollars per share)					$ 2.63	$ 2.63
Exercised (in dollars per share)					2.63	2.63
Outstanding shares at the end of the period (in dollars per share)					$ 2.63	$ 2.63	$ 2.63
Employee Stock Purchase 2018 Plan
Information related to compensation cost
Purchase price for initial subscription (in dollars per share) | (per share)	$ 1.86	$ 37.89
Percentage of title acquired by employee in every two years on shares paid in previous two years					50%
Period of plan					8 years
Ratio of bonus shares granted to participant					0.1
Stock based compensation expense | $					$ 0.7	$ 0.7	$ 0.7
Unrecognized compensation expense | $					$ 2.4	$ 3.1	$ 3.8
Stock award activity, Shares
Outstanding shares at the beginning of the period | shares					3,173,924	3,918,458
Exercised (in shares) | shares					(419,418)	(744,534)
Outstanding shares at the end of the period | shares					2,754,506	3,173,924	3,918,458
Unit Weighted Average Grant Date Fair Value
Outstanding shares at the beginning of the period (in dollars per share)					$ 1.86	$ 1.86
Exercised (in dollars per share)					1.86	1.86
Outstanding shares at the end of the period (in dollars per share)					$ 1.86	$ 1.86	$ 1.86

STOCKHOLDERS' EQUITY_ - Non Con

STOCKHOLDERS' EQUITY: - Non Controlling Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Non-controlling interest activity
Balance at the beginning of the period	$ 58.6
Net earnings	9.5	$ 14.1	$ 7.4
Dividend paid	(5.5)	(6.7)	$ (4.1)
Balance at the end of the period	$ 62.7	$ 58.6

DERIVATIVE INSTRUMENTS_ (Detail

DERIVATIVE INSTRUMENTS: (Details) - item	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2022
DERIVATIVE INSTRUMENTS:
Number of derivative contracts entered	2	2
Derivative instruments held		0

FAIR VALUE MEASUREMENT_ (Detail

FAIR VALUE MEASUREMENT: (Details) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2021 item	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($)
Liabilities:
Long-term debt, Carrying Value		$ 6,251.2	$ 6,547.6
Long-term debt, Fair Value		6,426.8	8,573.2
Short-term investment:
Trading securities		208	486.5
Available-for-sale:
Available-for-sale debt securities		0.3	0.4
Available-for-sale Securities, Current, Total		$ 0.3	0.4
Derivative:
Number of derivative contracts entered | item	2	2
Quoted prices in active markets for identical assets (Level 1)
Liabilities:
Long-term debt, Carrying Value		$ 6,200	6,496.4
Long-term debt, Fair Value		6,372.6	8,506
Significant other observable inputs (Level 2)
Liabilities:
Long-term debt, Carrying Value		51.2	51.2
Long-term debt, Fair Value		54.2	67.2
Fair value measurements recurring | Fair value as of the end of the period
Short-term investment:
Trading securities		208	486.5
Derivative:
Total assets, fair value		1,717.2	1,651.4
Fair value measurements recurring | Fair value as of the end of the period | Copper
Derivative:
Provisionally priced sales		1,052	876.2
Fair value measurements recurring | Fair value as of the end of the period | Molybdenum
Derivative:
Provisionally priced sales		456.9	288.3
Fair value measurements recurring | Asset backed securities | Fair value as of the end of the period
Available-for-sale:
Available-for-sale debt securities		0.1	0.2
Fair value measurements recurring | Mortgage backed securities | Fair value as of the end of the period
Available-for-sale:
Available-for-sale debt securities		0.2	0.2
Fair value measurements recurring | Quoted prices in active markets for identical assets (Level 1)
Short-term investment:
Trading securities		208	486.5
Derivative:
Total assets, fair value		1,716.9	1,651
Fair value measurements recurring | Quoted prices in active markets for identical assets (Level 1) | Copper
Derivative:
Provisionally priced sales		1,052	876.2
Fair value measurements recurring | Quoted prices in active markets for identical assets (Level 1) | Molybdenum
Derivative:
Provisionally priced sales		456.9	288.3
Fair value measurements recurring | Significant other observable inputs (Level 2)
Available-for-sale:
Available-for-sale Securities, Current, Total		0.3	0.4
Fair value measurements recurring | Significant other observable inputs (Level 2) | Asset backed securities
Available-for-sale:
Available-for-sale debt securities		0.1	0.2
Fair value measurements recurring | Significant other observable inputs (Level 2) | Mortgage backed securities
Available-for-sale:
Available-for-sale debt securities		$ 0.2	$ 0.2

CONCENTRATION OF RISK_ (Details

CONCENTRATION OF RISK: (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) item	Dec. 31, 2021	Dec. 31, 2020
Concentration of risk
Number of open-pit copper mines | item	4
Number of underground poly metallic mines | item	5
Number of smelters | item	2
Number of refineries | item	9
Total cash and short-term investment	$ 2,278
Cash equivalents
Concentration of risk
Total cash and short-term investment	$ 2,278
Percentage of total cash	100%
Percentage of cash in US dollars	96.40%
Cash equivalents | United States
Concentration of risk
Total cash and short-term investment	$ 1,903.8
Percentage of total cash	83.60%
Percentage invested in one institution of country	12.40%
Percentage invested in one institution of total cash	10.30%
Cash equivalents | Switzerland
Concentration of risk
Total cash and short-term investment	$ 227.2
Percentage of total cash	10%
Percentage invested in one institution of country	100%
Percentage invested in one institution of total cash	10%
Cash equivalents | Peru
Concentration of risk
Total cash and short-term investment	$ 41.6
Percentage of total cash	1.80%
Percentage invested in one institution of country	75.10%
Percentage invested in one institution of total cash	1.40%
Cash equivalents | Mexico
Concentration of risk
Total cash and short-term investment	$ 105.4
Percentage of total cash	4.60%
Percentage invested in one institution of country	56.40%
Percentage invested in one institution of total cash	2.60%
Accounts receivable trade | Five largest customers | Customer
Concentration of risk
Percentage of accounts receivable and total sales	34.20%	31.30%	35.30%
Accounts receivable trade | Largest customer | Customer
Concentration of risk
Percentage of accounts receivable and total sales	10.40%	11.80%	12.90%
Total sales | Five largest customers | Customer
Concentration of risk
Percentage of accounts receivable and total sales	25.70%	25%	28.10%
Total sales | Largest customer | Customer
Concentration of risk
Percentage of accounts receivable and total sales	6.80%	7.20%	10%

RELATED PARTY TRANSACTIONS_ (De

RELATED PARTY TRANSACTIONS: (Details) $ in Millions	1 Months Ended		12 Months Ended
	May 31, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) item	Dec. 31, 2020 USD ($)	Dec. 31, 2012 item MW	Dec. 31, 2014 item
RELATED PARTY TRANSACTIONS:
Related parties receivable current:			$ 33.3	$ 49.1
Related parties payable:			120.2	103.3
Total purchases			534.6	454.4	$ 576.3
Total sales			$ 2.1	2	1.9
Equity investment in affiliate
RELATED PARTY TRANSACTIONS:
Ownership percentage			44.20%
Apu Coropuna S.R.L.
RELATED PARTY TRANSACTIONS:
Ownership percentage			30%
Minimum
RELATED PARTY TRANSACTIONS:
Aggregate consideration of Material Affiliate Transaction to be be authorized by the General Counsel and CFO			$ 8
Maximum
RELATED PARTY TRANSACTIONS:
Aggregate consideration of Material Affiliate Transaction to be be authorized by the General Counsel and CFO			10
Grupo Mexico and affiliates
RELATED PARTY TRANSACTIONS:
Total purchases			2.7	2.5	4.1
Total sales			213	160.5	132.9
Asarco LLC ("Asarco")
RELATED PARTY TRANSACTIONS:
Related parties receivable current:			9.2	10
Related parties payable:			23.8	14.9
Total purchases			66.3	31.3	233.9
Total sales			48	33.4	77.9
Accounts Receivable		$ 62
Making quarterly payments		$ 0.5
Asarco LLC ("Asarco") | Other Noncurrent Assets [Member]
RELATED PARTY TRANSACTIONS:
Related parties receivable					2.2
Asarco LLC ("Asarco") | London Interbank Offered Rate (LIBOR) [Member]
RELATED PARTY TRANSACTIONS:
Debt Instrument, Basis Spread on Variable Rate		2%
Americas Mining Corporation
RELATED PARTY TRANSACTIONS:
Related parties receivable current:				0.1
Total sales				0.1
AMMINCO Apoyo Administrativo, S.A. de C.V. ("AMMINCO")
RELATED PARTY TRANSACTIONS:
Related parties payable:			5	9.5
Total purchases			10	8.9	18.6
Total sales				0.1	0.1
AMMINCO Apoyo Administrativo, S.A. de C.V. ("AMMINCO") | Maximum
RELATED PARTY TRANSACTIONS:
Related parties receivable current:				0.1
Compania Perforadora Mexico S.A.P.I. de C.V.
RELATED PARTY TRANSACTIONS:
Related parties receivable current:			0.3	0.3
Eolica El Retiro, S.A.P.I. de C.V.
RELATED PARTY TRANSACTIONS:
Related parties payable:			0.4	2.7
Total purchases			$ 3	$ 9.3	1
Number of wind turbines | item							37
Percentage of supply to third-party energy users			27%	61%
Ferrocarril Mexicano, S.A. de C.V.
RELATED PARTY TRANSACTIONS:
Related parties payable:			$ 5.6	$ 4
Total purchases			42.9	41.8	45.8
Grupo Mexico
RELATED PARTY TRANSACTIONS:
Total purchases					10
Donations			3.5	0.9	7.1
Grupo Mexico Servicios
RELATED PARTY TRANSACTIONS:
Related parties payable:			20.2	11.1
Total purchases			20.1	20.1
Intermodal Mexico S.A. de C.V.
RELATED PARTY TRANSACTIONS:
Total purchases				0.5
MGE
RELATED PARTY TRANSACTIONS:
Related parties receivable current:			23.4	38.4
Related parties payable:			57.5	57.2
Total purchases			331	287.3	213.3
Total sales			$ 165	$ 126.9	54.9
Accounts Receivable	$ 97.2
Making quarterly payments	$ 5.1
Debt Instrument, Basis Spread on Variable Rate	8.28%
MGE | Mexico
RELATED PARTY TRANSACTIONS:
Number of natural gas-fired combined cycle power generating units | item						2
Net total capacity (in megawatts) | MW						516.2
Percentage of supply to third-party energy users			1.40%	2%
Mexico Compania Constructora S.A de C.V.
RELATED PARTY TRANSACTIONS:
Related parties payable:			$ 5.9	$ 2
Total purchases			43.8	44.5	42.6
Peru Mining Exploration And Development Company
RELATED PARTY TRANSACTIONS:
Total purchases				$ 0.4
Number of mining concessions purchased | item				3
Grupo Mexico Servicios de Ingenieria, S.A. de C.V.
RELATED PARTY TRANSACTIONS:
Related parties receivable current:			0.2	$ 0.2
Related parties payable:			1.2	0.9
Total purchases			16.7	10.3	11.1
Controladora de Infraestructura Energetica Mexico, S. A. de C. V.
RELATED PARTY TRANSACTIONS:
Total purchases			0.8
Boutique Bowling de Mexico, S.A. de C.V.
RELATED PARTY TRANSACTIONS:
Related parties receivable current:			0.1	0.1
Related parties payable:			0.3	0.3
Total purchases			0.4	0.3	0.4
Total sales			0.1	0.1	0.1
Mexico Transportes Aereos S.A. de C.V. ("Mextransport")
RELATED PARTY TRANSACTIONS:
Related parties payable:			0.1	0.5
Total purchases			2.1	1.8	3.5
Total sales			1.9	1.8	1.7
Operadora de Cinemas S.A. de C.V.
RELATED PARTY TRANSACTIONS:
Related parties receivable current:			0.1
Related parties payable:			0.2	0.2
Total purchases			0.2	0.4	0.2
Total sales			$ 0.1	$ 0.1	$ 0.1

SEGMENT AND RELATED INFORMATI_3

SEGMENT AND RELATED INFORMATION: - Financial (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) item segment country	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Financial information related to segments
Number of reportable segments | segment	3
Number of countries having open-pit operations | country	2
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	$ 10,047,900	$ 10,934,100	$ 7,984,900
Cost of sales (exclusive of depreciation, amortization and depletion)	4,649,100	3,894,400	3,929,800
Selling, general and administrative	125,000	125,200	126,200
Depreciation, amortization and depletion	796,300	806,000	775,600
Exploration	41,700	43,400	32,600
Operating income	4,435,800	6,065,100	3,120,700
Interest, net	(305,100)	(349,900)	(347,400)
Other income (expense)	117,100	(18,400)	(27,500)
Income taxes	(1,596,100)	(2,299,200)	(1,174,400)
Equity earnings of affiliate, net of income tax	(3,700)	13,600	6,400
Non-controlling interest	(9,500)	(14,100)	(7,400)
Net income attributable to SCC	2,638,500	3,397,100	1,570,400
Capital investment	948,500	892,300	592,200
Property and mine development, net	9,596,600	9,464,400	9,458,700
Total assets	17,277,400	18,297,600	16,946,500
Intersegment sale
Financial information relating to segments
Net sales (including sales to related parties, see note 18)		(145,900)	(111,000)
Corporate, other and eliminations
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	(299,700)	(145,900)	(111,000)
Cost of sales (exclusive of depreciation, amortization and depletion)	(316,900)	(162,000)	(124,300)
Selling, general and administrative	9,700	12,300	8,600
Depreciation, amortization and depletion	40,000	37,600	37,700
Exploration	14,700	20,900	12,100
Operating income	(47,300)	(54,700)	(45,100)
Capital investment	9,000	9,500	8,000
Property and mine development, net	746,200	722,900	704,900
Total assets	2,470,000	3,806,900	3,573,300
Reportable subsegments
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	10,047,900
Intersegment sales | Corporate, other and eliminations
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	$ (299,700)
Mexican Open-Pit
Financial information related to segments
Number of open-pit copper mines | item	2
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	$ 5,772,600	6,109,000	4,412,400
Mexican Open-Pit | Operating segment
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	5,772,600	6,109,000	4,412,400
Cost of sales (exclusive of depreciation, amortization and depletion)	2,371,900	1,953,500	1,991,600
Selling, general and administrative	65,900	62,800	70,500
Depreciation, amortization and depletion	377,000	392,600	366,700
Exploration	3,100	2,300	2,500
Operating income	2,954,700	3,697,800	1,981,100
Capital investment	422,700	463,600	317,100
Property and mine development, net	4,512,600	4,463,200	4,470,500
Total assets	8,835,900	8,559,800	7,236,100
Mexican Open-Pit | Reportable subsegments | Operating segment
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	5,610,900	6,109,000	4,412,400
Mexican Open-Pit | Intersegment sales | Operating segment
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	$ 161,700
Mexican IMMSA Unit
Financial information related to segments
Number of underground poly metal mines | item	5
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	$ 666,500	600,200	529,900
Mexican IMMSA Unit | Operating segment
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	666,500	600,200	529,900
Cost of sales (exclusive of depreciation, amortization and depletion)	532,800	440,900	383,000
Selling, general and administrative	10,200	10,000	9,500
Depreciation, amortization and depletion	57,600	54,800	42,500
Exploration	5,400	5,700	8,600
Operating income	60,600	88,800	86,300
Capital investment	161,800	98,300	72,100
Property and mine development, net	678,500	571,000	548,200
Total assets	1,100,700	998,200	967,200
Mexican IMMSA Unit | Reportable subsegments | Operating segment
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	528,500	454,300	418,900
Mexican IMMSA Unit | Intersegment sales | Operating segment
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	$ 138,000	145,900	111,000
Peruvian Operations
Financial information related to segments
Number of open-pit copper mines | item	2
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	$ 3,908,500	4,370,800	3,153,600
Peruvian Operations | Operating segment
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	3,908,500	4,370,800	3,153,600
Cost of sales (exclusive of depreciation, amortization and depletion)	2,061,300	1,662,000	1,679,500
Selling, general and administrative	39,200	40,100	37,600
Depreciation, amortization and depletion	321,700	321,000	328,700
Exploration	18,500	14,500	9,400
Operating income	1,467,800	2,333,200	1,098,400
Capital investment	355,000	320,900	195,000
Property and mine development, net	3,659,300	3,707,300	3,735,100
Total assets	4,870,800	4,932,700	5,169,900
Peruvian Operations | Reportable subsegments | Operating segment
Financial information relating to segments
Net sales (including sales to related parties, see note 18)	$ 3,908,500	$ 4,370,800	$ 3,153,600

SEGMENT AND RELATED INFORMATI_4

SEGMENT AND RELATED INFORMATION: - Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financial information related to segments
Trade receivables	$ 1,394.1	$ 1,358.7
Related parties receivable current:	33.3	49.1
Corporate, other and eliminations
Financial information related to segments
Related parties receivable current:	2	2
Mexican Open-Pit
Financial information related to segments
Trade receivables	788.1	656
Related parties receivable current:	31.1	46.9
Mexican IMMSA Unit
Financial information related to segments
Trade receivables	60	51.2
Related parties receivable current:	0.1	0.2
Peruvian Operations
Financial information related to segments
Trade receivables	546	$ 651.5
Related parties receivable current:	$ 0.1

SEGMENT AND RELATED INFORMATI_5

SEGMENT AND RELATED INFORMATION: - Sales (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	$ 10,047.9	$ 10,934.1	$ 7,984.9
Copper
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	7,538.8	8,828.3	6,513.1
Molybdenum
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	1,192.7	1,053.1	510.3
Silver
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	374.2	289.5	249.4
Zinc
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	402.6	474.4	447.8
Other
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	539.7	288.8	264.3
Corporate, other and eliminations
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	(299.7)	(145.9)	(111)
Corporate, other and eliminations | Copper
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	(220)	(74.1)	(48.4)
Corporate, other and eliminations | Silver
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	0.4	0.5	1.6
Corporate, other and eliminations | Zinc
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	(68.4)	(64.1)	(55.5)
Corporate, other and eliminations | Other
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	(11.7)	(8.2)	(8.7)
Mexican Open-Pit
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	5,772.6	6,109	4,412.4
Mexican Open-Pit | Operating segment
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	5,772.6	6,109	4,412.4
Mexican Open-Pit | Operating segment | Copper
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	4,579.2	5,182.1	3,762.1
Mexican Open-Pit | Operating segment | Molybdenum
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	705.3	538.4	275.2
Mexican Open-Pit | Operating segment | Zinc
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	241.9	252.8	235.5
Mexican Open-Pit | Operating segment | Other
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	246.3	135.7	139.6
Mexican IMMSA Unit
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	666.5	600.2	529.9
Mexican IMMSA Unit | Operating segment
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	666.5	600.2	529.9
Mexican IMMSA Unit | Operating segment | Copper
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	83.6	94.9	72.1
Mexican IMMSA Unit | Operating segment | Silver
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	373.8	289	247.8
Mexican IMMSA Unit | Operating segment | Zinc
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	133.8	152.7	155.8
Mexican IMMSA Unit | Operating segment | Other
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	75.3	63.6	54.2
Peruvian Operations
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	3,908.5	4,370.8	3,153.6
Peruvian Operations | Operating segment
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	3,908.5	4,370.8	3,153.6
Peruvian Operations | Operating segment | Copper
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	3,096	3,625.4	2,727.3
Peruvian Operations | Operating segment | Molybdenum
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	487.4	514.7	235.1
Peruvian Operations | Operating segment | Zinc
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	95.3	133	112
Peruvian Operations | Operating segment | Other
SALES VALUE PER SEGMENT:
Net sales (including sales to related parties, see note 18)	$ 229.8	$ 97.7	$ 79.2

SEGMENT AND RELATED INFORMATI_6

SEGMENT AND RELATED INFORMATION: - Geographical (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of revenue by geographical location
Net sales	$ 10,047.9	$ 10,934.1	$ 7,984.9
Mexico
Schedule of revenue by geographical location
Net sales	2,288.7	2,140	1,526.7
United States
Schedule of revenue by geographical location
Net sales	1,910.4	1,933.5	1,363.4
Peru
Schedule of revenue by geographical location
Net sales	615	586.3	335
Brazil
Schedule of revenue by geographical location
Net sales	452	437.1	233
Chile
Schedule of revenue by geographical location
Net sales	444.5	384.5	221.1
Latin America, other
Schedule of revenue by geographical location
Net sales	65.7	42.7	42.4
Switzerland
Schedule of revenue by geographical location
Net sales	1,477.8	1,697	1,443.3
Italy
Schedule of revenue by geographical location
Net sales	261.4	307.8	271.6
Spain
Schedule of revenue by geographical location
Net sales	458.2	502	199.4
Other European Countries
Schedule of revenue by geographical location
Net sales	362.8	732.2	521.7
Singapore
Schedule of revenue by geographical location
Net sales	288.4	957.8	863.7
China
Schedule of revenue by geographical location
Net sales	572.5	214.7	145.5
Japan
Schedule of revenue by geographical location
Net sales	616.2	629.1	579.5
Other Asian countries
Schedule of revenue by geographical location
Net sales	234.3	369.4	238.6
Corporate, other and eliminations
Schedule of revenue by geographical location
Net sales	(299.7)	(145.9)	(111)
Corporate, other and eliminations | Mexico
Schedule of revenue by geographical location
Net sales	(138)	(145.9)	(111)
Corporate, other and eliminations | Peru
Schedule of revenue by geographical location
Net sales	(161.7)
Mexican Open-Pit
Schedule of revenue by geographical location
Net sales	5,772.6	6,109	4,412.4
Mexican Open-Pit | Mexico
Schedule of revenue by geographical location
Net sales	1,962	1,893.3	1,296.6
Mexican Open-Pit | United States
Schedule of revenue by geographical location
Net sales	1,486.2	1,648.1	1,182.8
Mexican Open-Pit | Peru
Schedule of revenue by geographical location
Net sales	162.2
Mexican Open-Pit | Chile
Schedule of revenue by geographical location
Net sales	19.9	3.3	18.8
Mexican Open-Pit | Latin America, other
Schedule of revenue by geographical location
Net sales	35.4	31.3	36.8
Mexican Open-Pit | Switzerland
Schedule of revenue by geographical location
Net sales	693.7	1,097.2	898.2
Mexican Open-Pit | Italy
Schedule of revenue by geographical location
Net sales	2.1	0.7	0.1
Mexican Open-Pit | Spain
Schedule of revenue by geographical location
Net sales	420.7	410.2	199.4
Mexican Open-Pit | Other European Countries
Schedule of revenue by geographical location
Net sales	124.3	275.8	199.9
Mexican Open-Pit | Singapore
Schedule of revenue by geographical location
Net sales	103.9	441.9	319.9
Mexican Open-Pit | China
Schedule of revenue by geographical location
Net sales	517.6	189.7	132.6
Mexican Open-Pit | Japan
Schedule of revenue by geographical location
Net sales	88	23.6	46.9
Mexican Open-Pit | Other Asian countries
Schedule of revenue by geographical location
Net sales	156.6	93.9	80.4
Mexican IMMSA Unit
Schedule of revenue by geographical location
Net sales	666.5	600.2	529.9
Mexican IMMSA Unit | Mexico
Schedule of revenue by geographical location
Net sales	464.7	387.6	341.1
Mexican IMMSA Unit | United States
Schedule of revenue by geographical location
Net sales	54	52.3	27.2
Mexican IMMSA Unit | Peru
Schedule of revenue by geographical location
Net sales		(0.3)	13
Mexican IMMSA Unit | Brazil
Schedule of revenue by geographical location
Net sales	41.3	30.7	18.7
Mexican IMMSA Unit | Latin America, other
Schedule of revenue by geographical location
Net sales	2.6	0.7	2.9
Mexican IMMSA Unit | Switzerland
Schedule of revenue by geographical location
Net sales	44.6	55.1	69.9
Mexican IMMSA Unit | Italy
Schedule of revenue by geographical location
Net sales	19.3	8.8	9.5
Mexican IMMSA Unit | Other European Countries
Schedule of revenue by geographical location
Net sales	31.1	45.5	40.2
Mexican IMMSA Unit | Singapore
Schedule of revenue by geographical location
Net sales	8.4	19.4	6.9
Mexican IMMSA Unit | Other Asian countries
Schedule of revenue by geographical location
Net sales	0.5	0.4	0.5
Peruvian Operations
Schedule of revenue by geographical location
Net sales	3,908.5	4,370.8	3,153.6
Peruvian Operations | Mexico
Schedule of revenue by geographical location
Net sales		5
Peruvian Operations | United States
Schedule of revenue by geographical location
Net sales	370.2	233.1	153.4
Peruvian Operations | Peru
Schedule of revenue by geographical location
Net sales	614.5	586.6	322
Peruvian Operations | Brazil
Schedule of revenue by geographical location
Net sales	410.7	406.4	214.3
Peruvian Operations | Chile
Schedule of revenue by geographical location
Net sales	424.6	381.2	202.3
Peruvian Operations | Latin America, other
Schedule of revenue by geographical location
Net sales	27.7	10.7	2.7
Peruvian Operations | Switzerland
Schedule of revenue by geographical location
Net sales	739.5	544.7	475.2
Peruvian Operations | Italy
Schedule of revenue by geographical location
Net sales	240	298.3	262
Peruvian Operations | Spain
Schedule of revenue by geographical location
Net sales	37.5	91.8
Peruvian Operations | Other European Countries
Schedule of revenue by geographical location
Net sales	207.4	410.9	281.6
Peruvian Operations | Singapore
Schedule of revenue by geographical location
Net sales	176.1	496.5	536.9
Peruvian Operations | China
Schedule of revenue by geographical location
Net sales	54.9	25	12.9
Peruvian Operations | Japan
Schedule of revenue by geographical location
Net sales	528.2	605.5	532.6
Peruvian Operations | Other Asian countries
Schedule of revenue by geographical location
Net sales	$ 77.2	$ 275.1	$ 157.7

SEGMENT AND RELATED INFORMATI_7

SEGMENT AND RELATED INFORMATION: - Provisional Sale (Details) lb in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) lb $ / lb	Dec. 31, 2021 USD ($)
Provisionally priced sales:
Provisional price sales adjustment amounts included in net sales	$ (217.1)	$ 7.8
Copper
Provisionally priced sales:
Provisional price sales adjustment amounts included in accounts receivable	$ (49.9)	(1.2)
Copper | January through June 2023
Provisionally priced sales:
Sales volume (in million lbs.) | lb	276.5
Provisional price | $ / lb	3.81
Molybdenum
Provisionally priced sales:
Provisional price sales adjustment amounts included in accounts receivable	$ (167.2)	$ 9
Molybdenum | January through March 2021
Provisionally priced sales:
Sales volume (in million lbs.) | lb	14.3
Provisional price | $ / lb	31.85

SEGMENT AND RELATED INFORMATI_8

SEGMENT AND RELATED INFORMATION: - Long Term Sales Contract (Details) - T	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2019
Copper cathodes | Mitsui
Long-term sales contract
Term of agreement	3 years
Quantity to be supplied related to additional annual contract from 2016 until 2019 (in tons)	48,000
Molybdenum concentrates | Molibdenos y Metales
Long-term sales contract
Minimum percentage of total production required to be supplied	70%
Molybdenum concentrates | Molymex
Long-term sales contract
Minimum percentage of total production required to be supplied	80%
Sulfuric acid | Marcobre
Long-term sales contract
Term of agreement		5 years

SUBSEQUENT EVENTS_ (Details)

SUBSEQUENT EVENTS: (Details) - $ / shares			12 Months Ended
	Mar. 01, 2023	Jan. 26, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SUBSEQUENT EVENTS
Dividends paid as cash dividend (in dollars per share)			$ 3.50	$ 3.20	$ 1.50
Subsequent Events
SUBSEQUENT EVENTS
Dividends paid as cash dividend (in dollars per share)	$ 1
Quarterly dividend authorized (in dollars per share)		$ 1

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable
Valuation and Qualifying Accounts and Reserves
Balance at beginning of period	$ 8.7	$ 8.8	$ 0.5
Charged to costs and expenses	0.1		8.5
Deductions/Applications		(0.1)	(0.2)
Balance at end of period	8.8	8.7	8.8
Notes issued under par
Valuation and Qualifying Accounts and Reserves
Balance at beginning of period	65.6	67.6	69.6
Charged to costs and expenses	2.2	2	2
Balance at end of period	63.4	65.6	67.6
Valuation allowance
Valuation and Qualifying Accounts and Reserves
Balance at beginning of period	1,820	1,343.2	1,097
Charged to costs and expenses	233.7	476.8	246.2
Balance at end of period	$ 2,053.7	$ 1,820	$ 1,343.2