very Carmen. Results you Oscar member. Copper's today's Thank much, I'm Gonzalez Third to and conference, CEO Quarter Southern Rocha, welcome Southern of and by XXXX accompanied Conference Copper's At Good Call. Mr. morning, Board everyone,
go we express of ones best for wishes details this my your during quarter, loved past Before the the trying times. you into first let and me
our begin will the with we view call, on of market. update today's In copper an
We sales, review we questions. Southern ESG. expansion to will for Copper's then this, key operating projects related results will After results, session production, open the cost, financial and
Now average quarter of business. is in Exchange pound London let core Metal a third the third of the in price increase the year, market, of In from increased pound, $X.XX the us copper our per that XX.X% per an focus quarter on XXXX copper the of $X.XX to price. this
about the we're bodes for seeing company. As per of the a positive which and year-to-date $X.XX, prices of pound $X.XX price outlook today, at tops
factors influencing the following are believe the market. We
of at We travel Europe, in growth affected represent experiencing of and Peru, ] of are Exchange, Chile inventories remain because countries Metal -- Shanghai which that future demand scrap the it's China, tons this driven capital, of market those consumption. this XXX,XXX from the in This refined mentioned, the that The to X of to Combined recovery at together XX% in the recovery, September. [ expectation a and It's consumption estate intelligence imports, expecting in COMEX, particularly X% at market I power is levels. production of the regarding end bond London economic of in is copper a year developed copper.
The the shortages, is are low the refined XXX,XXX factor, copper market. this a these world by tons in these warehouses terms June year, year XX% demand, fell the by uncertainty deficit in about and combined factor. reduction a economies. another U.S. XXX,XXX to about They tons the real reduction.
Fourth supply. estimated at seeing although down a mainly as which favors in strong of due some agencies relatively and grow were inventories it's which do
Southern Copper's quarter Now the production XXXX. and at let's look past for
our slight year. compared third this represented XXX,XXX XXXX, our at in recoveries. registered production attributable at XX.X% a was This was of copper, production ore quarter improvement Copper in Caridad effect of grades. For of decrease to in sales lower X.X% and past Cuajone our or ore Toquepala this to This this production to La due it third to higher mines the year stand grades a drop the quarter and tons. due of by offset mine mainly at an quarter to
grades -- tons. totaled to increased pandemic. and copper due where year from driven a drop second quarter was to rescheduled recovery to due La It was result was by XXXX, offset a grades basis, by ore Cuajone a Compared On ore the copper mine. X.X%, which to both grade Buenavista at In of was of in decreased and COVID-XX year-on-year mine, by in production in and an mainly improvement the Caridad that grades. concentrator the and ore dropped. in XXXX an due at increase attributable production decrease cases, XXX,XXX production work to stripping production maintenance the X.X% to This last partially
we copper. produce year, For expect tons of this to XXX,XXX
Peruvian El the Peruvian Pilares, Pilar we -- production back concentrator being get production copper tons is production and ore production slight we know, production project. of affected new our grade recovery a at million as through over and expect back of operations to Buenavista bounce XXXX, our track zinc X you operations.
In on bulk our by production generate As of and
represented sales the quarter in and the averaged significant XX% by-product. value, increase first company's currently first represents production of compared the sales Molybdenum XXX.X%. in quarter XXXX. quarter to Molybdenum of of in a pound is XXXX $X.XX value prices per $XX.XX This our of in the third
mainly ore Caridad year by Toquepala increased grades. the production by at quarter La Molybdenum by due in to partially quarter the to Toquepala growth Buenavista cases. and by were lower improvement our attributable results third which second molybdenum in was Cuajone. higher XX.X%, mainly ore year, this increased and at These Compared driven growth this grades production offset a X.X%. the in this both at and of This production mines driven of an mines, both was Buenavista past production production in quarter in by with
of XXXX of tons our a which over expect decrease level. molybdenum, For we production XXXX, represents X.X% produce XX,XXX to
quarter. value of production Silver represented an regard ounce X.X% slight to in third Silver the of $XX.XX quarter average sales by-product. in third quarter a currently represented of per second XXXX, decrease of This the of the the our of price with with XXXX. is our X.X%
third to Cuajone This at the refineries. Mined an production increase increased IMMSA. the silver silver in XX.X% at Refined year, of the X.X% Toquepala all partially mine. production after an fell our by due Buenavista, increase was of year-on-year mainly in third production this production quarter and at offset quarter production in in fell
of was silver. versus XX.X to to the production with Cuajone. quarter second increased Refined the one, prior X.X% year. by and of production silver X.X%, XXXX, higher Comparing In quarter this third the million the third of IMMSA at second production slightly expect attributable ounces quarter, in silver quarter the a which mined by we XXXX primarily increased produce
of lower decreased was and the it XX,XXX Zinc in zinc, an $X.XX quarter-on-quarter San increase zinc X.X% Refined and by quarter Santa compared XXXX. our period Barbara XXXX. production an the XX.X% tons. this quarter production was period value increased production XX.X% of For which the production price by This same represented partially in operation. slightly of per third third driven by sales a totaled at offset average of with the Martin of our Charcas mines, in at mine to pound year the increase quarter, in from primarily X.X% same the
partially in year. quarter to the by increase of compared at Santa Looking to the at introduction Barbara Martin -- due zinc second quarter the by one Refined this this year San mine, or with drop which mined was decreased increased XX.X% of second third production quarter, in in the comparing offset third X.X% the zinc an production third in at mainly one, production operation. our the a by
last For this tons production that's a of year, X% XXXX, we expect to in compared produce to decrease when XX,XXX year. zinc,
results. Financial
quarter of is Of or third last copper were represented the XXXX, the the of higher to amount XX.X% purchases copper increase by concentrate an by by $X.X which For sales XX.X% This the $XXX.X billion. due total million million inventories. year an is than sales million. driven volume copper increase. higher of prices, in this XX.X%, third increased improvement of sales sales copper quarter of mainly XX.X%, in of third $XXX sales lower in value parties for increase, offset a This and $XXX.X decrease partially --
declined our that of in to bit we concentrates. the production That's you a purchases more little X.X%. third the reduction X%, sales copper lesser As know, made have have declined due our than parties but
Regarding we by increased sales registered of our volumes. prices molybdenum, better main to higher higher XXX.X% by-products, which and due
of volume. lower And prices For sales contrast, and and increased prices silver that was XX.X% which lower XX.X%, volumes. by zinc, we in attributable they due post better decreased by to to
operating copper. compared purchases decreased been exchange were costs and These million, $XX.X third variances, We The Our materials, by reduced our XXXX. cost participation to for diesel of leachable third parties contractors. by $XX total and operating purchased workers' materials and main million fuel or higher quarter X% material energy, and expenses the operating partially in labor, and repair of reductions reductions have cost when offset rate cost and cost. consumption by
of $X,XXX.X XXXX. was of versus the EBITDA year this was with period for in versus million. million, represented in EBITDA for XXXX, of of X EBITDA XX.X% XX.X% is adjusted quarter than quarter this margin Our XX.X% XX.X% months EBITDA the This of higher XX% EBITDA the third in the quarter to was regard the in Adjusted -- the adjusted the X year third in The which months same adjusted $X,XXX.X a XXXX. The XXXX. months. third an the X $X,XXX.X quarter for the was the year-to-date million, of XX.X% increase margin of third registered one
per cost higher of of second result lower partially higher value and administrative compensated cost a third quarter $X.XX higher is credits cost from cash Operating quarter the were pound $X.XX before in operating premiums. the was in lower by-product cash cost, is XXXX. increase the for That and These XXXX. of of treatment per X.X% This production than per pound refining charges. costs pound by expenses copper
we we by-products, registered $X.XX Total the These or of cost of cash lower in This molybdenum, and the this credit quarter in represent figures had of a zinc of the XXXX. million, was Southern compared third of in decreased second cash of of the with pound for per increase total $XXX.X and $X.XXX increased cost, credits quarter by-product $XXX.X X.X% year. a sulfuric Regarding the $X.XX the second third including for cash XXXX. or credit quarter Copper operating pound in of that $X.XXX acid the million silver.
Consequently, per cost $X.XX when per benefit credit, quarter pound than XXXX. was
a income with third regard On XXXX. third cost third a improvements quarter what The higher was represented This $XXX of measures. of basis, the in Net in strict third XXXX. our sales in we the margin income in quarter the XX.X% and XXXX XXX.X% income were had increase registered was versus million, net than to in XX.X% attributable was to XXXX. higher significant quarter quarter net XX.X% $XXX.X which the control of the year-on-year million
outlook investments, of in has capital for increase prices, year, million in with the years, to quality consistently ongoing our of third develop. Copper's portfolio. Southern the on For XX.X% operate the allowed year quarter this us for of an make to assets our represented philosophy but income you investments, our based the asset not In financial this investment net copper we Throughout and reflected and regard considerable the is that discipline which spent we XXXX strong quarter. the investments capital XX% as of $XXX.X know,
capital September year, of net on XX.X% $XXX.X XX had which represented spent this we of As million of investments, income.
Looking commenting the projects we Tia the region start on Maria developing, are in Peru. let that project Arequipa the in by me at
has promote province. population Islay to As Southern consistently been the working you of Copper know, the of welfare
in life we effort, implemented of these and productive successful the to programs care social of health region. the part improve education, As have in development quality
and growth have agricultural assist and in We fishing province Tambo X, of XXXX, and manufacturing, mayor Islay awarded in of efforts tourism Southern supported COVID-XX Valley City in also company's January pandemic. promoted of the livestock a the Arequipa Diploma Copper during to of to the population Islay Islay.
On activities the recognition the in
medical oxygen, initiation Tia region. and provided food equipment opportunities will stuffs Maria population assistance, Islay of Copper Arequipa area influence beds at generate for significant Maria that in the the project.
We activities the the the and reiterate economic tests, province the Southern protection of for construction of Tia personal and view our
Given the ahead it that a to will situation, projects is stimulate cycle. sustainable move growth crucial current economic Peruvian on
during that we hire jobs it labor the Tia expect priority Maria's the make local construction. to a will to We generate X,XXX to fill
When Maria X,XXX XXX persons. employ jobs operating, indirectly directly another provide to expect and Tia workers we to
from royalties the via region taxes. X of in our and we operations, will to Additionally, contribution revenues significant Arequipa day generate
on generate significant made to expect SCC front to with the necessary progress the the important an support project Peruvian that for We and has Peru's and the adequate and consequently, actions the Maria steps to will contributions initiate construction. economy the government Tia acknowledge take provide social
this Community. We X well. on have year, social Michiquillay as agreement company September the news Michiquillay the a On the project with of signed
results have that conducted Community. steps we represents the solid with La quality life agreement agreement to of Energy a the signing the strong Talks programs we the are community residence of and That's we approved level. an Southern the that of environmental work a X, Michiquillay of Michiquillay being events for with and Ministry similar These impact opportunity Community program XXXX. other allow positive Encañada have exploration semi-detailed are in first on of study expect improve for our by to project an project. Peruvian social The Additionally, project, related to the at Copper a Michiquillay the the framework initiate to technical via for quarter in-depth October the shortly. important social and Mines the backed
part This XX,XXX a concentrator development the and the tons project Buenavista zinc projects, For year. the concentrator, concentrator, located, Buenavista that operation. includes say, zinc as we facility, Buenavista XXX,XXX a have of approximately within and is our of which I Mexican to zinc is per tons copper produce the new of of is
have In equipment has XX%, been to preventive capital put We has and the order site. permits and the budget completed all the on is COVID-XX engineering million. stronger the Procurement measures has The $XXX site are works to progressed with continue progress. necessary study. main is in place. Construction project in all the project,
have in this we million invested $XXX.X project. As of of September year, this
also This direct project, jobs X is been will significantly to of new facility of primary million. in the the We trucks crushers Caridad used XX,XXX at X.XX% the we expected is be of A by from facility the X,XXX overall from La for concentrator. Caridad. grade budget and the expect project will zinc with ore the double combining built X.XX% capacity $XXX the jobs.
The located Caridad grade operations. La XXX improve and production annual have Sonora, indirect from wide concentrate. Pilares to completed, to Pilares mine grade When copper ore initiate mineral consists Pilares provide and will production This company's La $XX.X operations The invested in which pit transport the ore copper this of capacity million, tons from new an off-road for ore has project an mining open-pit kilometers XX-meter in with XXXX.
We the of production in begin expect the XXXX. project to first quarter
This XXX using ore Buenavista million XX mineralization for The copper technology. million. with of our an project, and average approximately oxide a -- The This the is Pilar budget production XX,XXX is concentrate Pilar copper contains this environmentally grade a kind third capacity and friendly have mine. copper Pilar. We probable The good from very as a a open-pit the technology, which proven conventional technology. is El project tons in tons is is we SX-EW operate a state which ore El of cathodes. that $XXX it's of greenfield capital grade intensity Sonora cost-efficient will will which low is -- mine operation estimated kilometers project Its one, reserves X.X%, El and for an SX-EW. of of good remarkable anticipate annual use that highly of is copper with
and continues environmental The pads We is recovery. years. engineering activities. copper expect levels mine production is the finished, XX company and and to of life at site begin experimental Basic developing from the in in process adequate results leaching XXXX the confirmed study estimated have project
per over SX-EW grams with California area. open-pit the an to request located In all a is an engineering production the combining and of to environmental concentrator Several The expected XXX,XXX XXX,XXX capital and to of analysis we billion X.X with The baseline relevant mining successfully started completed an part have acquire of El a California estimated is as concessions tons years was reserves the X.XX and Baja total operation. has This is ton. by-product, And Arco, impact basic Annual back, ounces reviewing began XXXX. state, deposit an central $X.X which the copper gold copper the we mine the in in of of billion. grade tons the rights to budget permits. process ore company gold X.XXX%. world-class in a of Baja we have of with includes project the ore Peninsula study
investments. For and environmental, governance social
the our record community other by to adopting investment committed Southern is Copper, and these communicated matters. to you practices in and the stakeholders, improve progress its as best ESG know,
contemplated XX% regions Several help in where help centers. In programs About in and of population XXX,XXX is in million was of are our The regions Sorry. Copper vaccinate with face Peru over this to by initiatives established Copper we communities to and partnership Mexico. against personnel. has XX.X% have the been for COVID-XX year operations the all launched Southern help company the build, of the workforce initiative July the workforce of in by vaccinated Peru, been -- modernize, government located. this operate. To the vaccines Southern vaccination of XX% been Peru donated has pandemic date, $X.X administered been vaccinated against a This operate and equip X XX.X% company where to government COVID in both Corporation has COVID-XX.
open-pit The Mexico mining Silver Casco plants La mine de metallurgical refinery with distinction a received the more La Caridad in with Helmet, chamber performance up safety than in their of and for and same XXX to plants smelters in the top Caridad's for Plata, metallurgical received in category operations the category whereas metallurgical categories mine, recognized mining respective XXX XXXX. the employees. employees, and for or plants refinery
Metals, and we Council operate. for by the to reaffirms To plans throughout contribute impact Environmental have developed biodiversity plans Mining for an implementing with commitment, mitigation implement further and Southern improvement presenting to positive measures Practice for effective on this published net actions aligned in by Copper guide the a operations. Guidance to company's Mining of improve outlining Corporation the generate ICMM. the to environment we Good fulfill improving is capacity International which our that the on action its the the These management Policy, biodiversity company's environment preservation are in and commitment and Biodiversity which
And recommendations with climate-related we an of volumes. in also alone. operations absolute production Task The in further our Financial for in our We're the a Force the and and included In risks operational years urgency X% over have on this this disclosure spite XXXX, is the X carbon of and emissions began greenhouse Southern dropped new Copper of mitigate emission section recognized process the decreased Disclosures. opportunities Corporation align Sustainable to regard. increase gases to manage Development past significantly footprint. report change. the specific importance Grupo by XXXX progress in Mexico our -- in with setting climate on tackling details to Climate-related of reduction targets XXXX efforts company's
being Festival Copper the initiatives support responsible have launched organizing and state's the the community which the and documentary creation over by Sonora promote Peru, to company of Tirado Youth creation Nacozari are offered music of the Mexico X,XXX were the relevant: to educational which of provided gears itinerary and the XXX particularly operations the and pinpointed communities safeguard of implemented Southern surrounding a history, The culture orchestras videos; workshop, to Three for Alfonso for government choirs.
Switching X and cinema led by Cananea; of Corporation voluntary children in dividends. for creation traditions. the company Ortiz recognized The programs, in programs over culturally mining and in our X Orchestras. the to These as led
it position, payable meeting in to of and to like gentlemen, mind, from Directors in shareholders investment Regarding with this the authorized questions. cash now October joining policy record the of much $X each dividend open expect dividends, at the and we forum company our plans November cash the as stock you November XX thank would generation needs close know, quarterly business up ladies XX you very per the on and common market variations, this determine financial flow on year.
Well, core of cash to of for to to of of for Board the share us, on as is X, dividend. Accordingly, company a review other announced capital appropriate
