very Gigi. XXXX you Southern Thank much, Copper's welcome everyone, Third to and Quarter of Results Call. Good Conference morning to
keep the go had taken we first my COVID-XX loved will that an me the ones begin we quarter, and trying on these on for express into the pandemic with best of the Before and past on measures details bay times.
In have let operations. the during you to wishes our that we your the at today's update call, impact has
session We for questions.
Well, we mentioned, to the production, of copper and the as review fight will costs, continue pandemic their by well-being and the operating safeguard and our the financial and to results then workforce, we Southern prioritizing families for results sales, communities. health Subsequently, efforts expansion I Copper's key projects. COVID-XX market open nearby will
total levels operating rigorous company with governments, safety sanitation we have our required and regional protocols compliance national and facilities. Our by hygiene, all implemented local, of and is in at emergency
working About of are at usage. operation the our home. September year, our at of XX% workforce and Mexico, operations of is XX labor capacity of As working at XX% XX% of is the in Peru this in sites or
imposing testing prohibiting to beginning strict distancing quarantine. including to the to essential and communities. the mandatory government From health by has travel their its all authorities. contractors, decreed measures all our their frequent to Southern protocols, must prevention hand urgent workers, of washing COVID-XX, meetings, monitoring pandemic, the most with our by to measures and require face-to-face our strong adherence implement measures of families worked Copper protect exposure other safety July, limit health, we opened very premises restriction, social and to the enforcing up In of whom ongoing disease We're comply workforce and for health
care. and for subsequently $XX.X the of populations has strengthen fight support maintain that and capacity oxygen, plants, has to are temporary COVID-XX.
To of Peru the authorities top item XX and In Peru communities support with and infected isolation hospitals XXX general oxygen for the capacity XXX donating XXX,XXX also, executed. Tacna of in southern we local medicinal a with we day against company-owned one population under liters of one oxygen that meters donated national a Sonora require have XXX,XXX cubic medicinal Puno this purpose, meters donated of To have COVID-XX initiative, XXX testing communities date, bolster hospitals in people response X per donated hospital XX% hospitals have who Moquegua where the liquid XXX the budget and confined Of the day a and XX Moquegua treat supplies in we beds set Mexico, we laboratory to Peru. to of supply. oxygen. On Peru, COVID-XX with to In this oxygen per cubic total Arequipa in company molecular to of dialogue in another for approved has for in pandemic, of a part medical the company operate. of the In we at and of the with capacity the breathing budget, regions up For ventilators we already been the primary Mexico. housing executed nations million for a or and beds
spread XX,XXX the our areas to personal in to and donated These for of COVID-XX, include medical hygiene kits symptoms. staff We kits to XX,XXX our donations personal influence. its the for information equipment have also and over workers and protection population population about
also We of Army. equipment the donated protection cleaning Police Peruvian Mexico of National and and and members of the have to Guard personal
such elderly vulnerable persons hygiene Additionally, containing as pregnant items. and the kits individuals, and or we're more women, disabled food personal helping than by XX,XXX donating
The In installed to portable the XXX have hand they more the their the than to encourage of sports, the compliance Moreover, to strategic X,XXX in areas with workshops access schools online aforementioned pandemic quality. efforts, education offering beginning online of since have and with ensure so to X,XXX XX educational received company the addition cultural to the washing. we can communities measures, community. the stay-at-home preventive with continue sinks company that students is XXX,XXX sponsors courses,
we service, a community employment XX benefit and care communities that programs counseling psychological include Additionally, us. the throughout offer special free hours medical, our initiatives day.
Other around
elderly participated pandemic, making program XX,XXX volunteers have mine we believe economies. both have role participated the XXX an more exchange that X,XXX of the COVID-XX we Peruvian In masks.
Considering play delivered people, and order will a develop investment introduction provided with community urban Community and supply volunteers in Mexican current in recovery virtual orchards, than letter of impact more to For face and kits. the the important have the the visits. the messages and environment than in
will economic employment in revenues Southern to tax As such, belief our our to continue that operate. the projects, generators we that which Copper's well-remunerated resources operations with a countries of constitute develop risk-controlled and consistent we provide
the copper the an pound from the per core our a or higher third market, of average quarter price third Exchange to focus of quarter price. price year, Metal of on London In increased in the business. us $X.XX this XXXX let $X.XX of of copper Now XXXX, XX.X% the
Asian economies by supply pound, and at about COVID-XX supply recovery. demand for current have negotiations; demand, today, in other outlook on of a and and long-term impact producer, and driven X the view supply a major provided economic of of the of Chile, evolution important the of in market which banks a effect copper At an to the point, copper scenario seems from reflects expectations lower we demand and of the to by combined central factors: in the for coming As China economies. price positive liquidity prices due $X.XX the both crisis price. the of be copper per developed seeing the increase we're this from Considering labor
me at Southern let for past XXXX. Copper's production and the Now quarter focus
tons quarter Peruvian third third at decrease represented was by ore with copper, its it our ore in XXXX. a the plan. copper, effect mines, with higher XXXX. to sales production of attributable which at XXXX, our increased turn, and in primarily This in last lower of figure at grades. lower X.X% production X.X% of quarter Copper Buenavista, due In XXX,XXX year's to grades. due XX.X% last was, Mexican to line the produce For which slightly than of the to regard of to the by mines, and particularly in our production at partially expect This production production year reported registered in in was decrease offset our production tons we a XXX,XXX third of situated quarter higher
to in decrease third by Molybdenum of the the at compared XXXX, the a and increased due in XX.X%. this molybdenum, same XX.X% Toquepala. represented of represents production due the production year of increased and the significantly additional quarter produced by to $X.XX our value by-product. it third grades that its of XXXX. the offset third recoveries. of it's XX,XXX averaged period at pound in new of higher were of higher to molybdenum, currently This principally represent X.X% to tons. increased molybdenum sales quarter XXXX quarter quarter mine. XXXX which expect level Toquepala X.X% company's we per of X,XXX in XXXX, This compared molybdenum For X.X% lower production at second $XX.XX our tons was of XX.X% that Molybdenum our partially prices XX,XXX our over and production of mine. increase the Cuajone In tons an Buenavista Toquepala of by produce to production and the production, plant Also, by production
of sales the X.X% last with in up from quarter value in the the our third this an represented is quarter, of per XX.X% year Silver currently third quarter price by-product. our year. first of ounce $XX.XX average of Silver
decrease Martin is one, by one. in and the IMMSA. Mined the production first a increase Buenavista We is silver the and which mine, its past we But production a by production Toquepala, silver this silver So to in production at and had higher second also at had X.X% increases its San -- in the production XX.X% quarter positive that increased due molybdenum by decreased at XX%. Cuajone. -- production in Caridad La
San XXXX, X.X% attributable when Refined third X.X% an to XX.X compared silver in is expecting of third are XXXX. of to expect versus This its increased year a million Martin production. decreased in In silver we tons -- to XXXX. ounces San and produce this to ounces million contribution we million the last to million to silver, by has of San to production year's that operation. mainly increase Martin produce compares the the of in production ounces quarter significant -- quarter up in X.X Martin by X.X
believe and a of that considered metal times industrial gold, value the we fact like silver, be this in will that by Regarding of supported the use prices economic is intensive silver, shelter uncertainty.
XXXX Santa evaluating of currently line with XX.X% X.X% quarter production production increase an zinc the the increase, $X.XX by mine in Martin were variances quarter, XXXX. to last average our third in third represented in of to in period and quarter by mine. is of of X,XXX of different price the mostly price San of the at per same the with in X.X% primarily We're Barbara sales pound Zinc the XX,XXX that Eulalia. value the a the the the supply tons. registered Refined our shutdown compared X.X% offset to situated tons, year. options decrease concentrator a Eulalia slight at production zinc quarter negative in of operation Zinc of increase mine due of year third flooding. first severe the this to quarter of increased production Santa in Santa a and These was an at production quarter-on-quarter This XX.X% at due average
were reported increase an which XXXX. increase This in of million For our of results, $X.X sales. represents in third sales the financial over sales a of $XXX.X third quarter the billion, quarter XX.X% is in XXXX, the
copper value For it XX.X% in by volume, the of X.X% sales and by scenario increased better prices. a
to an by of to slight by by and X.X% prices. These prices. to we our in silver, increase were in sales of in that positive Regarding rose offset reported by variation lower molybdenum drop XX% X% sales due main of Zinc results due sales and due increased prices. much volume decreased better that no partially increase XX.X% higher volume by-products, in
turn, As that prices we I compensated the had partially was, in XX.X%. by of decreased XX.X%, mentioned, which better by volume
sales and consumption million increased lower increments Our when decrease or repair increments XXXX. workers Main operating of quarter and in expenses. materials. third fuel by diesel has partially capitalized of inventory cost X.X% operating the purchased These expenses total leachable the contractors, offset a by material, to cost participation and and copper, cost in $XX.X compared cost, operations, use been and were
the quarter The XX% third of quarter adjusted registered than represented quarter of of in the margin XX.X% last XX.X% the in EBITDA EBITDA with $XXX.X The $X,XXX.X quarter-on-quarter XXXX situated of On XXXX. in third was in of the regard a to versus year. second increase at past quarter adjusted million, in this higher was basis, the quarter million an XXXX. EBITDA was which third XX.X%
the cost offset by-product of value and to third administrative in X.X% in XXXX. a This an refining the in production pound premium over cost the of charges refined of quarter and before result pound cash treatment from represents an this expenses operating cost, was Operating per partially and increase in credits by increase the $X.XXX reported pound sales. second increase This cost per the was an copper in $X.XX of cash copper is year. increase of quarter per
cash Copper's benefit This including credits, of reported cash the the cost than of operating was by-product pound Southern second the $X.XXX quarter $X.XXX of per cost in we lower third in cost, quarter of $X.XX cash the was XXXX. XXXX.
silver with the had had million third million XXXX. a Total $X.XXX quarter acid. XX.X% we figures pound when in Regarding or by-products, in sulfuric the of credit and per that XXXX. the of pound of a These total $XXX.X quarter $XXX.X for increased of $X.XXX have zinc, per credits compared or increase credit second molybdenum, we represent
same quarter the the sales. quarter-on-quarter the income. mainly XX.X% share versus was income third of expenditures. in to was XX% XX% increase quarter the net XXXX. higher higher basis, XXXX a quarter margin income was of per or quarter past $XXX XX.X% net This second On quarter $X.XX higher The XXXX than XXXX.
Capital for of income earnings diluted one attributable of net million than in this net third of The was of
portfolio. are years, the not and on in consistently The the at financial measures outlook the testing, execution have of to Sanitary level. to develop. Southern daily copper assets we conditions COVID-XX is vulnerability include at considerable investments allowed prompted asset checks, reduce Copper but make use, pandemic or strong the us engineering, prices Throughout quality where measures and investment temperature the executed project work to this us sites by philosophy a distancing camps introduce construction back based that where has closely. distancing rise, on down, mask generated required provision our ongoing other are COVID-XX social we frequent project our point, All has and activities operate contractors' mandatory on for or for and not discipline personnel At our our obligatory In new pace. expect personnel applied particularly period scaled to significant are the the infections in being procurement delays some an do where are locations that execution. and mine quarantine construction intensive been normal in own activity personnel. be can sites at social pushed and work at not
projects, billion. of $X.X of Peruvian billion we Los Peru the for the invested, CapEx, CapEx; been the program billion Michiquillay, of has which $X.X our Peru, of and billion commitment our $X.X approved up Chancas, in a If already projects coming at investment billion expansion. For $X.X include current mainly total totaled and in $X.X show concentrator Toquepala portfolio
has region been For the province to working of Copper Southern in project the the the Arequipa Islay consistently promote Tia Peru, of welfare population. Maria
we region. education, health to the have development part successful efforts, and these care quality the implemented programs As life of social in productive improve in of
the the in the its we Maria's security Human operations our plan activities in promoted the and that process conducted company our the and promotes in on in to a reflects valley corporate-wide in practices its respect human with and We're XXXX, aligned the companies for environmental, regarding assessments. global that water This in the agriculture of results and improved growth Maria opportunities system guys review impact positive The programs received place reiterate encouraged has their of multi-stakeholder in quarter the tourism Arequipa livestock area project. in that region. manner Arequipa activities following Maria pleased Rights, by rights. Principles tracking the Voluntary Tia Security principles of of third Islay view in Islay.
In will leader environment the social project We Maria construction influence initiative by project, a to which a in provide province social and significant and initiation of for with these for Tia of manufacturing, also and results, Tambo has at and the Tia was our generate economic the concluded relations company's We social region. is our Tia the supported which the international the government standards. The company evaluation aligned for and community management fishing
Peruvian move is on growth it to ahead situation, will cycle. current projects sustainable that stimulate economic the a crucial Given
for local another and and to Maria a construction to the fill employ it during we we phase. X,XXX operating, will jobs indirectly generate X,XXX to phase, During priority labor operation the directly provide jobs Tia workers we expect Tia make When that construction XXX workers. Maria's to the expect hire
significant Additionally, Arequipa contribution royalties region of to we taxes. revenues from X our and will via the day operations, generate in
support initiate important necessary Maria government economy the to Peru's provide with steps the and Copper contributions social and generate significant to will consequently that has take on project expect front to construction. We Southern adequate the the Peruvian progress Tia made the acknowledge the for
zinc facility. For a have to projects, facility tons Buenavista, particularly and year. of per of the our for and the the tons on we project between zinc new -- the concentrator located Mexican new copper Buenavista This approximately XX,XXX XX,XXX produce is concentrator zinc of development includes
and placed have completion. the equipment, has basic the million. Purchase the The and to in put combat order preventive completed is XX% the orders capital engineering have being major stronger reached COVID-XX permits been for with all measures is the project has $XXX project, of manufactured. currently place. which continue budget have study some We been engineering In detailed of necessary to
the When initiate to in X,XXX of XXX this double expect completed, company's will new quarter the operations zinc and third and production We will provide XXXX. jobs facility indirect jobs. capacity direct
new the X This of to the the will consists X.XX% ore pit kilometers Caridad this from improve from La project grade, and capacity with facility in that of we XXXX. Pilares from Sonora, This A the first Pilares a be concentrate. project ore mine the significantly For of expected La overall operation annual of for construction is expect is from in off-road project, trucks concentrator. X.XX% is located transport Pilares Caridad. will copper grade also project copper grade $XXX under for and mineral mining begin XX,XXX the the to an of Caridad. crushers at the ore operation an La The the with open primary half budget XX-meter to production pit million the tons project in combining our ore wide is used production
El material. XX El of XXXX copper reserves cathodes. El production a ore technology. operate is is probable highly capacity tons that friendly annual expect oxide is start cost-efficient in grade of grade of of we Its pads leaching expected SX-EW X.XXX%, low estimated intensity the leachable will mineralization $XXX kilometers project an proven environmentally budget operation the a pit an Sonora, levels as for Pilar of with Buenavista we XXX a and have very mine. process with XX ore located that We a This production results for greenfield Pilar project which Pilar. to good million and from experimental capital confirmed In approximately conventional of also from years. copper an of is average recovery. XX,XXX copper anticipate The copper project use and contains have copper named The mine open our will with adequate This mine life tons in strategically million,
project mineral. of X.XXX% the over located ore discussion, El mine has, which of of of part Arco, combining concentrator currently the to is of of We're world-class tons ounces deposit grade expected ore our is projects copper XXX,XXX by-product, of adding baseline company X.XXX%. the started California. is reviewing estimated an leach to copper engineering production a capital Arco This process has and Baja an gold of Annual with X.X product situate about billion. budget basic includes XXX,XXX We're SX-EW of analysis with in an impact a for it peninsula in central open the California El project. tons the which at is final Baja request in tons, a with gold, X.XX as The per an and of grade $X.X and pit study And -- environmental has also the X.X ton gold operations. permit. acquisition billion billion ore land grams material tons stage to the reserves and
Directors common of October of record XX, payable of cash operations, appropriate it on quarterly investment determine the the XX XX as on market cash to position, the needs the other stock close of company dividends, is meeting Board share November to you capital company's a as business from year. policy dividend. to November on Accordingly, shareholders financial expected $X.XX to of at per the Regarding review and authorized at know, the plan flow Board each generation this cash of announced dividend
like the much and in for to and with would ladies us for gentlemen, thank Well, open this now up very forum we mind, today, questions. joining you
