Southern Copper Smashes Records with $1.67 Billion Q2 Net Income

Southern Copper Corporation (NYSE: SCCO) posted record-breaking net income of $1.67 billion for the second quarter of 2026, a staggering 71.6% increase from $973.4 million in the same period last year.

The company attributed this remarkable growth to higher copper and silver prices, which rose 39.8% and 118.6%, respectively, over the past year. Copper sales volumes did decline by 1.5%, but the increase in prices more than compensated for this loss.

Southern Copper's net income margin widened to 38.9% from 31.9% a year earlier, while adjusted EBITDA reached $2.86 billion, up 59.5%. The company also reported a significant decline in operating cash cost per pound of copper, which fell by 93% to $0.05.

Meanwhile, the Tía María project in Peru is progressing steadily, with German Larrea, Chairman of the Board, stating that the project had reached 42% completion as of June 30 and was expected to begin production in the second half of 2027.