Copper's afternoon accompanied Thank welcome everyone González by and XXXX Mr. to you At Call. Southern Quarter and Results Fourth Oscar to Conference And CEO Copper's today's very member. Gigi. Full much, and good Board Southern conference, Rocha, I'm
quarter, trying let the wishes will into details today's on past we taken update my your of go the call, an first we best have me the to for loved Before express ones times. we and COVID-XX you keep with bay. measures during begin these In at
solidarity. review results the that citizens economic as copper and the Copper's will financial growth, with joint the protect society operating to The companies costs, open resilience, value and Southern and XXXX, for faced challenges responsibility generate new questions.
In to and governments, for has innovation sales, the Southern then expansion imposed we the requires Subsequently, key results market Copper normal recovery. the of and We projects. assume world we production, in will pandemic fuel virus resume session
handwashing reared guaranteeing committed properly personnel prevent support capacities preserve in strengthen head medical special well and almost noninvasive COVID for the as used company in is patients to states mild funds an budget were allotted sinks installed ventilators environments a medical where carts. was developed Copper beds to dozens kits, equipment the When COVID work The important action equip hospitals. countries XXX facility symptoms. and outreach their such around of in Sonora community ventilators response.
In moderate and has Hundreds company health hospitals artificial Mexico, bolster with Southern COVID-XX and and to and and support functions of conditioned with to monitors, as transmission, its care to of communities company the lines to resuscitation Mexico, different in operate. health quickly number workers, X.X moved XXXX, for early million families in as of XXX donate its safe protection we a The for portable supplies beds to of these was
Peru, a total XXX COVID the temporary facility with and oxygen In beds provided set up company supplies. hospitals XX with each of
liters the X regions capacities and of In in day, XXX XXX,XXX Tacna to meters in the per cubic Moquegua liquid public meters addition, Puno oxygen of plants regions and the cubic up and respectively. set and company hospitals XXX with donated oxygen Arequipa of
lab timely To stop of chains was ensure donated a Moquegua. contagion, test detection cases of the and COVID-XX PCR in
tests serology PCR is equipment application health a was to is care procedure, at professionals, to medical of or which Additionally, now tracks. key contagion standard stopping donated its
Southern distributing to most the supported Peru programs. both outreach food populations vulnerable funnel in and through permanent Copper and continues thousands community has its of bags Mexico by
work families together intense regard, health and priority mounted by provide authorities recommended and In the campaigns hygiene efforts and out pandemic stem counseling of population support in impact. to to communities areas solidarity-based measures psychological has about workshops. the to prevention communication for to the educate throughout online top the Our this our roll influence the company to its and with is the
is than XX.X% price us our business. of let higher the quarter the XXXX. core pound, Copper we quarter had that $X.XX price the fourth Metal the London copper of in market, the averaged per on In Now of that focus the XXXX, Exchange fourth
a sustained per believe recovery European activity auto a demand copper mainly positive market. Asian in as in which as and the the factors recovery copper influencing other China worldwide a A in boasts bit prices $X.XX pound, industrial economies the little As are We market. following XXXX the economic of industry. today, we by for are driven outlook seeing over for well copper uses,
in Regarding which that XXXX. a should the increase XX at December led last levels XX% China, London of scrap bonded be of the Shanghai Exchange, copper in COMEX copper. to their close months Metal it combined imports of XXXX, dropped subsequent also refined Chinese and noted consumption lowest inventories XXXX and since The warehouses
long-term a evolution the view Given supply for and for have market year copper demand, we this market. positive of current and outlook the for the
production due lower the by concentrate. production quarter of This quarter partially fourth of at or production Now Copper was tons our in Copper primarily Copper's at and Toquepala past to ore ore at fourth XX% our in by situated effect XXXX for production of mine, tonnage due higher to lower mine to as the an mine in sales offset past Cuajone Buenavista Southern quarter. well look increase This XXXX. was production quarter attributable compared the to recoveries the increase and and at the X.X% the an to quarter increase let's our in registered grades in processed XXXX. represented as fourth of higher at the XXX,XXX an grades. due
production due Cuajone and both ore at in grades. offset For XXXX the regard our decrease the IMMSA due higher partially Mexico. represented attributable recoveries. production to year increases million copper a was These and to XXXX, grades growth in which the Toquepala in mines a lower was to tons Buenavista mainly mine, Caridad La production X.X% ore new by were higher milestone the And to at at mines, This and to production the X with a primarily in production company's and represented and topped history. increase
XXXX year's little for one, by at produce next bit of in expect this grade the of and temporary -- copper. recoveries, operations. and the we the and to next a tons a production XXXX affected year be For XXX,XXX north will ore Peruvian reduction This
projects believe get Pilares, the by production Pilar El production organic XXXX Peruvian on of million developing production concentrate. generate production point Zinc by to Buenavista we a projects, and owned our to new following track all X,XXX,XXX We as on We will copper XXXX tons production expect by aim and reaching produce new XXXX, tons recover back them us. mark of our the of we by for inflection as fully X.X growth new
operations.
At that major to have expected by the of of we Arco, Pilar tons El in XX,XXX initiate production Baja early capacity Pilares capacity tons. Mexico, is -- tons California, project to increase a Peruvian production of add with Peninsula, sorry, expected our For El copper. XX,XXX to will of into operation from in contribution XX,XXX XXXX in a zinc greenfield copper. tons of get of is a a the concentrator produce XXXX, organic Buenavista with XXXX and will the I'm of tons by of tons from XXX,XXX with come XXX,XXX XXXX growth copper. our And projects. Zinc XX,XXX -- XXX,XXX production ones, new is in expected new Mexican These
the of production with that a with by expect XXX,XXX Chancas and XXX,XXX production X.X noticed production, are start-up of refined tons year; that per will is expect million tons put Maria, for copper; new should Tia we of base We dates XXX,XXX expected as we tons. production These to volumes from by our projects copper Mexican with XXXX tons in by strong capacity be capacity will of us follows: shape Michiquillay increase XXXX with to -- new operations our our of tons XXXX.
It add good a XXX,XXX operations. reach our long-term additional volumes, production of Peru. producing Los XXXX to initiate will copper by-product combined as to These goal add initiate
of As such, we XX,XXX to molybdenum XX.X by silver million ounces and by produce ounces XXXX. of tons XXXX, expect million silver XX.X for of XXXX by
For XXX,XXX of by tons zinc of XXXX. zinc, XXXX, we XXX,XXX and produce expect over zinc to tons by
other that creation will for see, possibilities shareholders. our our can confident keep through our you meantime, shareholders will organic open value the growth to we're enhance value be we base. company for As our In generating to
For quarter X.X% $X.XX by-product. per fourth XXXX, This the Molybdenum currently reduction. to averaged X.X% value of company's a XXXX. sales it compared quarter quarter in is in the our and pound molybdenum, prices pound the per it of first in price of $X.XX represented fourth past is the
XXXX, had and decrease new an volume recoveries. XX.X% with X.X% Peruvian per This record. our to to currently increase increase and tons production our of operations another Silver ounces due by tons. In X.X% the and second our by our to In and by-product. molybdenum, produce we Cuajone from of Cuajone. XX,XXX of mention This from Toquepala ounce of our produced of Caridad and tons compares same of represents the production quarter in production quarter the which because of XX.X mainly and Buenavista XXXX the of XX.X% XXXX, Up recoveries. was was value mines This silver, lower significant price produced additional In to is at from due quarter. of fourth Molybdenum XX.X% we expect represented is mines company million level.
Silver due XXXX But company the grades an production record. offset of $XX.X compared average XXXX, a of production Toquepala higher It's a of the production decreased XXXX. XXXX. we same molybdenum, XXXX production XX,XXX that over quarter our an partially XXXX, in and the at X.X% we of fourth principally in to XX,XXX XXXX, in sales to of in production. lower grades quarter in achievement lower
last Buenavista, decreased silver a with and Martin quarter higher mined in fourth silver, the of in year's to million XXXX year to XX.X% In La La at fell Caridad and at the For This offset the XXXX, same ounces Toquepala IMMSA. we production Cuajone quarter of the after Caridad partially of higher at line and XX.X% production in by by expect XXXX, by was increased mine the due production and IMMSA. silver period production produce of production at from production. fourth XX.X San production last X.X% increase mines.
Refined
a quarter in production represented quarter at sales Santa quarter compared the of the mine. Martin production of zinc first the price increase Refined to Zinc fourth XXXX XXXX. partially flooding. XX,XXX the production $X.XX tons. in with situate Zinc increase a of at to of fourth offset zinc our fourth decreased were XX.X% average by quarter-on-quarter of in per of quarter, quarter mine due of value shutdown by due fourth of XXXX. XXXX, pound variances San a was These decreased the to negative to the XX.X% XX.X% the an in zinc X.X% primarily our severe of X.X% production quarter production operation from the This Eulalia in
highly XX,XXX mainly shutdown production significant XXX.X% to XXXX the regard we with of produced For was aforementioned mine of of the nonetheless The year mentioned Eulalia tons the decrease. Martin and Santa was San X.X% by a in insufficient decrease the increase XXXX, the to operation. at zinc, driven offset
production we XXXX, of expect XX.X% in last to For a tons produce when year. to compared zinc, XX,XXX increase
financial our Looking at results.
fourth volume in sales.
Copper and sales quarter by in XXXX the of billion, were For for value better XX.X% XXXX. of $XXX.X a This increase by a of than price. million is quarter the fourth higher sales substantially XX.X%, or $X.X X.X% scenario sales increased
due Regarding sales volume by-products, due had volume due higher growth increase in was rose sales an to sales price Silver offset and Zinc -- decrease were price. by molybdenum, effect volume. and to the of partially in our main which in adjustment, by we price. a provisional up sales to of
increased the In sales Let sales by-products. mention the variances me case of XX.X%. molybdenum, the in by for
For zinc, it was X.X%.
XX.X%. silver, For
rate Our total and for quarter cost, leachable consumption, increments main other partially These operating fuel of and lower operations and increased to the by decrease expenses a cost capitalized diesel XXXX. were material, when increments factors. $XX.X fourth compared participation, cost the variance, million The been X% in costs. contractors workers' by labor exchange inventory has or offset depreciation the and cost
XXXX, was of to adjusted were which an was the at of used of million, The margin XX.X%. $X,XXX quarter-on-quarter quarter EBITDA a EBITDA $XXX.X quarter of quarter one situated the at increase XX.X% year adjusted fourth fourth last EBITDA the regard higher XX.X% third during quarter With the XXXX. adjusted the than the quarter in XX.X% million, XXXX. In of fourth XXXX. the versus represented basis, of fourth On was in
of -- before the For in second. credits of per Operating flow. was EBITDA pound was million and the production a XXXX. cost pound result than in higher quarter X.X% for from per is cost is me higher copper higher $X.XX XXXX, is XXXX's per of offset credits adjusted partially XXXX.
Excuse third pound starting the $X.XX cost expenses per charges, $X.XX increase product administrative with X.X% for of cash pound cost in quarter refined cash $X,XXX.X -- the refining This higher fourth cash cost, which per or by copper year EBITDA.
Operating XXXX. and treatment pound fourth the adjusted before operating by-product the a This of of by-product This was was a than quarter value premiums. decrease cash in I'll
cost, year. $X.XXX the cash the operating was $X.XXX This by-product benefit per XXXX. was of quarter last pound Copper's including third Southern of $X.XXX than of in the of higher for fourth cash quarter cost credits, cost cash the
fourth year. Regarding of that figures $XXX.X X.X% by-products, with of the quarter credit have we had XXXX. $XXX $X.XXX in or a per These last we compared of quarter represent $X.XXX total the in of the credit pound or per increase third million million a pound when
decreased XX.X% increase quarter was and income year. of reflected an of net of over quarter was of Net XXXX figure $X,XXX.X zinc XX.X% attributable XXXX. XX.X% the fourth than the increased for increase XX.X% higher higher income period in versus same have fourth $X.X prior quarter-on-quarter the reported the for of Total margin higher is This the million year credits $XXX.X XXXX. sales. for and a fourth in the silver Net and in On quarter to sulfuric income of was acid, income basis, the that third million, gold.
Net in last mainly have XXXX. XXXX of molybdenum, than million quarter was
asset based quality investment the prices for allowed develop. financial in For us assets strong capital Throughout the we social philosophy sanitation investments, of to periods including strengthening under are measures outlook copper that the not ongoing quarantine These the requiring for discipline led on and considerable Copper's but which our years, make project operate has is Southern efforts our rules, consistently portfolio. conditions to at us has forcing on vulnerability implement investments the to execution constantly COVID-XX produce The by measures, generated personnel. distance level. and review,
our infections investment the people in limited where albeit delays, in today, construction engineering, scale. proximity. are primarily are activities the delays. Mexico, some we in that activities other minimal, to affect or project on require physical that work rise, expect located the are execution on construction Nevertheless, that execution of interaction entail All projects. in cases stage Some Peru experienced regions have Consequently, procurement delays of personnel activities close and in between new
$XXX.X were XX.X% investments of net capital which XXXX, For represented income. million,
include billion. billion approved of Our reflects projects totaled program Michiquillay current up of Peru already of investment total billion, a and $X.X $X.X and been $X.X $X.X with billion X in $X.X our has in portfolio Los which invested. the investment projects, billion, Chancas If coming commitment Peru we these
Southern of welfare Arequipa, In population. the Province the project the consistently promote to Copper case working has in Tia Islay of been Maria
As improve have we education, part to social the successful in region. of these development efforts, productive programs care the implemented of life in and quality health
Valley manufacturing, fishing tourism supported Tambo activity the have in growth and promoted Islay. and in livestock and We also agricultural in
that in size. country Islay for We reiterate economic ahead sustained construction crucial requiring Arequipa urgently that strong our growth Tia The where social project Province initiation recession the it is are will with new at stimulate the conditions view for to Given region. of jobs, generate Maria. activities opportunities significant and appropriate current will the Peruvian move economic a projects a is the situation, and
make directly indirectly When expect mentioned hire and that it fill construction XXX Maria workers local X,XXX. in Maria's the expect Tia provide have for we construction to jobs we jobs a As another the Tia to operation labor operating, employ and prior to during X,XXX during to we generate phase, reports, phase. we will priority
generate in and region operations, our we Arequipa will Additionally, royalties from via day of contribution revenues to tax. significant X
initiate the to social support Maria take Peruvian the Peru's We Tia and adequate for with acknowledge recovery to the front to construction. SEC the necessary progress generate expect has steps important and consequently, the government significant project made the will provide that on contributions economic
our of is XX,XXX XX,XXX This facility a Sonora. produce the with Zinc project per to development For the and let's located start tons zinc Buenavista between and projects, of the copper concentrator approximately new tons in year. includes Buenavista project Mexican of
and the for study capital put to have continue the been orders are Purchase COVID-XX manufactured. engineering million. the completed has engineering place. to the been order being project The budget XX% major $XXX study project, equipment, have combat the is We placed complete. is permits with preventive stronger detailed in and have basic measures some which of In currently necessary all
initiate company's operations capacity as X,XXX and XXXX, jobs. jobs and before, mentioned this the provide new double to and We production indirect will expect XXX facility when zinc in direct completed,
primary the also improve that per Pilaris, and baseline for rate tons kilometers Annual to contains with ton XXX,XXX concentrator combining the We're a anticipate mine an XXX,XXX project wide land XX,XXX transport combining copper of strategically tons from an by-products The billion. El is with of ore the copper environmentally that, the operate proven acquisition levels central X.XX of production and leaching copper XX for gold, $XXX project copper average confirmed of Pilares tons grade, Mexico. estimated experimental greenfield with in and tons the very Pilar Arco, at in consists study is Baja permits. grade million capital The with and with pit oxide. XX-meter Sonora peninsula first is of SX-EW analysis the X.X conventional of of with the the California for ore engineering of Caridad. Arco and to process life leach in actually the for mining budget a of production a an the currently and material budget ore million, company an billion an and concentrator. project. ore significantly Sonora, million, quarter from of catalyst. the deposit facility operation probable budget have ore SX-EW off-road copper the an pit the of with in from to we X.XXX%, XXXX, start average begin of the has in expect mine. tons of El tons will This have mineral annual kilometers $X.X to pit Pilares, adequate use This we La the used of be mineral. capacity which copper located open from mine project X.XX% Caridad mineralization friendly Pilar copper oxide to technology. California final the and construction X Pilar overall situate world-class ore production mine and project ore to year.
El in $XXX Caridad. request in is is open The which of estimated that production capital started in The capacity Baja includes of open expected an good copper This Buenavista Its XX,XXX This grams with from with expect stage pit environmental Mexico, of located concentrate, This is will results new is La operation mine project is state for X.XXX%, The El in La is We of project highly impact of grade project process from basic as recovery.
In project expected we we low years. XX gold trucks Mexico, also is cost-efficient a part an paths next copper billion in an has peninsula, the X.XXX%.
Besides reserves over XXX annual of El crushers of under the of project the operations. have of will in expected Sonora X.X of reviewing our production tons another copper Mexico. reserves located grade will in is intensity, approximately X.XX% The
record capital each is the know, as this you the generation pound common the business dividend board a year. XX, flow the $X.XX market the of policy and it position, January appropriate shareholders Accordingly, stock XX per on cash February Regarding on of quarterly company review of or for cash cash determine dividend. other XX per of to dividends, financial meeting, investment payable operations, announced at of at expected the plan February to Board on share needs company's close to Directors of to authorized as
joining with in would So for thank and we gentlemen, like mind, forum to questions. now for this ladies us, you and much the open very
