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SOUTHERN PERU COPPER Phoenix, Arizona; It Doesn't Pinch Pennies In Quest For Copper.(THE NEW AMERICA)
Byline: ALAN R. ELLIOTT
Due south of Bisbee, Ariz., 25 miles beyond what locals call la linea -- the U.S.-Mexico border -- lies one of the world's largest copper mines.
Even after two centuries of hard labor, the mine near the town of Cananea holds an estimated 22 million tons of reserves, making it the world's fourth-largest cache of copper.
Last month the property also became a key piece of Southern Peru Copper's strategy to internationalize its operations.
A March 28 shareholder vote cleared Southern Peru to acquire Minera Mexico, the Mexican copper assets of Grupo Mexico SA. The buyout includes the Cananea and nearby La Caridad mines.
Questionable Relationship
Valued near $3 billion, the merger places Southern Peru among the world's top three copper producers. It also raises questions about the relationship between Grupo Mexico and Southern Peru.
- Grupo Mexico, S.A. de C.V. Strategies for Southern Peru Copper Corporation.
- Press release article from: Business Wire December 17, 1999 700+ words
...17, 1999-- Grupo Mexico, S.A. de C...consequently 54.3% of Southern Peru Copper Corporation...return." Finally, Grupo Mexico expects to inform...union of ASARCO, Southern Peru Copper Corporation and Grupo Mexico.
- Grupo Mexico.(Southern Peru Copper Corporation merge with Minera Mexico...
- Magazine article from: Latin Trade July 1, 2005 700+ words
GRUPO MEXICO, a Mexican copper producer, said its subsidiary Southern Peru Copper Corporation, a Peruvian copper mine, will merge with its Mexican unit Minera Mexico. Southern Peru will issue fresh equity once the merger concludes.
- Grupo Mexico to sell Southern Peru shares.
- News wire article from: The America's Intelligence Wire December 2, 2002 700+ words
...Peru)) The Grupo Mexico has almost completed...majority share in Southern Peru Copper Corporation...Corp., owner of Grupo Mexico. The transfer...allow Asarco, the Grupo Mexico subsidiary, which holds the Southern Peru shares to achieve...
- Asarco asks judge for $10.2 billion judgment against Grupo Mexico: Grupo asks...
- News wire article from: The America's Intelligence Wire September 23, 2008 700+ words
...company, Mexico City-based Grupo Mexico, had fraudulently transferred...Asarco 260,093,694 shares of Southern Peru Copper Corp., currently valued...return of the SPCC shares." Grupo Mexico is still trying to regain control...
- Fitch Assigns Grupo Mexico `BB' Rating.
- Press release article from: Business Wire October 26, 2001 700+ words
...railway division. Grupo Mexico's metals sales...requirements at Southern Peru Copper Corporation...maximize efficiencies, Grupo Mexico recently aggregated...port town of Ilo in southern Peru. Grupo Mexico also owns 74% of...
- ASARCO. (Panorama: Regional).(US Justice Department blocks sale of its stake in...
- Magazine article from: Latin Trade Dempsey, Mary A. November 1, 2002 700+ words
...based unit of copper mining company Grupo Mexico, was blocked by the U.S. Justice Department from selling a stake in Southern Peru Copper Corp., another holding of Grupo Mexico. The U.S. government says the sale...
- Fitch Removes Grupo Mexico from Rating Watch Neg & Takes Action on Subs.
- Press release article from: Business Wire March 8, 2004 700+ words
...following ratings for Grupo Mexico's subsidiaries...currency, 'B'. Southern Peru Copper Corporation...subsidiary of Grupo Mexico that is the direct...Asarco, and Southern Peru Copper Corporation (SPCC). Grupo Mexico's 'B-' rating...
- Correct: Fitch Removes Grupo Mexico from Watch Neg & Takes Action on Subs.
- Press release article from: Business Wire March 8, 2004 700+ words
...following ratings for Grupo Mexico's subsidiaries...currency, 'B'. Southern Peru Copper Corporation...subsidiary of Grupo Mexico that is the direct...Asarco, and Southern Peru Copper Corporation (SPCC). Grupo Mexico's 'B-' rating...
- Peru: Southern Peru becomes the world's second largest copper producer.
- News wire article from: The America's Intelligence Wire October 26, 2004 700+ words
...STEPHEN MANNING Southern Peru (SPCC), the Peruvian...which is owned by Grupo Mexico, the Mexican steel...mining subsidiary of Grupo Mexico. With the operation, Grupo Mexico will raise its stake in Southern Peru by about 67.2 million...
- Grupo Mexico Calls Meeting to Approve Dividend, Authorize Stock Issue.
- Press release article from: Business Wire April 13, 2000 700+ words
...purchased will become Grupo Mexico treasury stock...its interest in Southern Peru Copper Corporation...those offered to Grupo Mexico shareholders...subsidiary, Southern Peru Copper Corporation...NYSE:PCU). Grupo Mexico also ranks as...