Conference Thank Third Quarter Copper's welcome to you Southern very much, XXXX Carmen. Call. Results Good morning, everyone, and of
of this Before organization. that X Mexico we Creo, go on of Executive one Grupo let today's Mr. and away. President Vice de our Southern mention me year, the into agenda, Garcia Board of lost member passed of Copper October pillars Javier
hard Over XX pleasure ] Javier, great company and work. in a shared expire knowledge, and talent. [ He years spanning mentoring took with period the developing judgment intelligence, sound
As organization. supporting our of employees well at multiple as generations
will We him. miss
and Southern conference, today's CEO Rocha, At of joined Gonzalez I'm Board member. Oscar Mr. Copper by
In a will projects Mr. as the view Leonardo well related member. expansion session then on copper update with of C operating As we review After is the our ]. key sales, questions. financial market costs, Contreras, also will to Copper's [ we results an and results, begin Board today's and Southern this, who production, for call, open
a recovery landing and in the market a economy, per Exchange year. metals we what of still U.S. let better focus price basic Even the or in $X.XX year X% the copper in is Europe the Metal this increased copper this slow of a Chinese on the market. to involves that the year, than In ago, an the recession third Now soft price up though a London due uncertainty us minor last a to pound reflecting we year, of the had first quarter recession see quarter from $X.XX of this average
increased XXX,XXX what XX% intelligent market inventories copper level, at in affecting to point, September. looking a Exchange, up relevant low The market are are some is now Even tons copper in And this Network At expecting market. warehouses following a though a most houses increase. year. the we Shanghai of for very factors for This bonded see the the from in China. market COMEX about the at the this have still June, surplus we're in is XXX,XXX the and London Exchange XXX,XXX tons they Exchange, the tons of copper
[ metal we of dollar, expressed in stronger-than-expected leading are the ]. in On the Copper It is to plays is important prices a top in U.S. role and a which copper seeing that back ore this, reducing emphasize current positively the be which will to shift believe correlates strong In demand the this relatively cycle underlying shorter. term. prices low with scenario, of clean global will be we for in assertion that energy, long the copper, our
to at our the for this of production XXXX. look XX% tons. terms quarter. Copper's stand the production decrease the past let's third Southern Now X.X% of quarter at year in sales represented in Copper a XXX,XXX in of third quarter quarter-on-quarter registered Copper of
Peru, higher by in partially was to production grade. better Our reflects at ore due grades. in decrease ore quarterly a driven lower This Cuajone X.X% result reported which offset our mine, Toquepala production by
copper the Buenavista to the X.X%, which attributable mainly mine. Production this at our terms, at decreased mine. year, lower our Buenavista Mexican of Net and reduction in production production second quarter-to-quarter quarter Cuajone decreased to slightly due to production operations mainly X.X% a Compared at was
finance trends. produce we -- XXXX, year XXXX's this copper, of tonnes expect XXX,XXX X.X% XXX over the For tons an of to increase
third company's the our year represented first sales it quarter value this the molybdenum, by-product. currently in of and For of XX% is
an production results represents Toquepala at increase the Cuajone This in by in in $XX.XX driven by Molybdenum per XXXX. averaged in an by partially La third also at increase the molybdenum lower grades, of quarter the the third XX.X% XX.X% quarter Caridad, compared these were $XX prices to quarter and mainly pound and production This the Molybdenum price. of of offset to mine. Buenavista was production XXXX. in higher mine ore due increased
we produce molybdenum. expect to XXXX, of XX,XXX For tons
of For the Silver demand air market our with of currently believe per short an XXXX, term, good reflected defense in industries. of space XXXX. sales increase the ounce molybdenum Silver quarter and prices to quarter represented [ have of quarter. will third of an price This compared the second due our deficit the ] third $XX.XX higher from by-product. and the in we is XX.X% a value support X% average coming to
the Mined refinery. in which was our mainly same versus decreased Refined fell IMMSA sole of at the period exception at production the XX% Toquepala quarter-over-quarter, decreased production by after silver by with mine. quarter, production operations of third drop XX.X% silver in our the a XXXX, production driven
a sold represented and to to lead quarter XXXX, produce million the of third market concentrate of being our third decrease is sales of processed in value XXXX, the with XXXX per increase with of In to of in concentrate an being refinery. regard ounces quarter. This commercial price quarter an to the figure. silver, X% XXXX. pound XX% $X.XX X% of the represents the average of the operational Zinc expect in reasons, now For instead XX.X we as compared
by Zinc XXXX. to was production same increase and mine XX,XXX X.X% period the the production production tons. quarter Barbara Refined at at driven total XX% the Santa increased offset in compared by Which Martin primarily in of the an mine. production This lower quarter-on-quarter San Charcas partially zinc third by was decreased and mine.
over XXXX, which produce zinc, XXXX represents increase year X% we tons to of our of an level. expect the production XX,XXX For
first sales $XXX XXXX, For our is in sales quarter which increase a third the in million $X.X quarter for financial the results, This billion. is higher were XXXX, sales. XX% than of of
a scenario better of for XX% decreased this metal. increased in sales volume by value Copper X.X%, prices while
increased molybdenum On increased sales, the mainly mainly lower volume. better prices in to by molybdenum, was we and to and we by-products, main due XX%, sales lower due had our zinc, higher sales volumes. due this prices better of a Regarding prices. XX% combination had XX% higher by to Silver of that and sales
operating compared the cost increased partially lower costs depreciation, participation, $XX expenses, were contractors expenses total cost when third lower of factors. operations consumption. inventory been by other and X%, to cost materials, The energy XXXX. main and These quarter repair workers' Our or by million compensated has increases in increases sales and
we EBITDA the third XX% quarter third third The of million, versus XXXX. what in the compares which in EBITDA for the million X in XXXX stood of registered $X,XXX represented XX% adjusted with same stood months increase XXXX at The EBITDA the in quarter margin the the EBITDA XX% is of of the XXXX. adjusted at of quarter in last the margin for X year. XX% to Adjusted adjusted months. XX%, $X,XXX X% higher million. The This XXXX $X,XXX same in was X which an was had than period months period of
cost and $X.XX lower second cost of Southern pound per the cash which higher from of cost, expenses, $X.XX including is quarter copper That year. quarter pound lower ] these the of third is in that cash third administrative this XXXX, increase the cash we before in second a a premiums. year. the in X% expenses cost charges [ and $X.XX. cash than credits the operating of for treatment cost the and operating than before administrative by pound value costs had $X.XX result the were production $X.XX, of XXXX. pound Copper benefit byproduct This cost compensated higher per was refining increases of cash in this of Operating higher quarter in X of was partially was $X.XX by-product credits and This quarter was per credits, per
figures Regarding an quarter in quarter total second total of the per $XXX the pound by-products, of year. credits, have we $XXX credit in compared in increase third which was $X.XX for of XX% had pound. by-product million That's a we this XXXX. or These per XXXX, million $X.XX pound credit to or per credit that in represent in the
Total molybdenum, and and credits sulfuric for zinc have acid silver. increased for decreased
the increase, net XX.X% third of net the registered of the represented million $XXX which income, in was million, quarter in $XXX.X XXXX. to third income regard a quarter year with For this
in -- in represented over third months of net X,XXX third months quarter margin an an increase of the sales. the this increase of the this Cash XX% million posted of activities the was flow The which year, in These million, same quarter the in income improvements in in period the from of was XXXX. operating driven year X XX.X%, XX.X% by versus of mainly X $X,XXX XXXX. were $
investments in in Elarcoprojects This forecast of and Buenavista Tia and infrastructure bolster including current this our expenditures, Elara Maria, key decade $XX Pilaris, competitiveness the exceeds billion includes [ the for Peru. Etiler investment in For several program capital Micki to and includes ] investments, [ the Zinc, investments capital Mexico ] projects in Luchanca capital and the
million months description developments net Since and investments, which year, $XXX we a main going year-on-year. new to projects the XX% of is X release, there capital on capital uptick our income spent I'm XX.X% a SEC's capital the a short each. for of In represent of reflects in in press expenses update
the Progress this the of For of project Sonora, for budget most million, in conclude the the back been capital first have pushed quarter quarter already been XXXX. initiated up to zinc is this plant, commissioning the has process. and of Ramping initially invested. in we concentrator XX%, $XXX Buenavista is has which scheduled to
adjustments. the concentrator some that technical requires Given
of copper the Pilares has operating which has and $XXX For currently is to Caridad the ore that price a $XXX in value been this delivering Pilares project concentrator. is million, Sonora, invested. a million of
the Pilares closing of it will ongoing time XXXX. one report of from after more will we the the We remove list company. that, at projects And on of
different completed For is has adequate in already that on-site recovery. And study activities. we results project same. evaluating process, of Sonora, and confirmed company and the improve experimental the the from are in levels engaging leaching Basic copper we're having options have the to been project engineering environmental the Pilar in paths development
external being an company. XX Ginis by and engineering at [ Project technology developed ] Engineering estimated years. MineLife, is
Secretary For company environmental of study to Intel Natural statement emanate. the facilities in baseline the manifestation will the for the submit impact proceed the Environment has Resources, after impact MIA to concentrator or completed and Mermental mine the and Elarco, the of on Spanish and
This respective auxiliary site preparing The services. currently line, power impact studies environmental is port, for permit. the town and company
region tons produce year. For the of the a will SX-EW SXEW a greenfield Arequipa is state-of-the-art in Arequipa, in highest project, technology with Maria Peru. This project standards to international located that per have XXX,XXX Tia capital Peru, environmental use Peruvian the the we copper in project
this budget is project. for the company $X.X ready It's that billion. capital mention undertake estimated to to The project important is this
engineering the Tia all to as well as go resources for the ready -- national have We Maria.
Copper of promote Southern been ] to [ consistently the the wafer working problems. of has life population his
education, of As efforts, to implemented development productive and part the we the in these of life region. programs have health social in improve care quality successful
We in Tambo and have also activities Valley in and the agricultural promoted tourism manufacturing, and fishing supported growth [Indiscernible]. livestock
geotechnical project. additional with characteristics hydrogeological illegal to Luchancas will of Akina of the the Simultaneously, land the [ of of the gather we in eliminate authorities of the held [ company For this representatives ] the to with ] Tiara at [ on information continue Peruen community XX our studies activities required concession. and mining Rocanca but to the for the region of SEC ] year, deposit. Peru, has work part as talks initiate September require soon,
[ of The We're company [ underway. in labor agreements Simultaneously, also Mickie paying ] and surface of with project in community programs Len exploration and accordance social are Cajamarca activities both the hired can XXXX use Peru in our is the Miki with has unskilled land. social for the the region ], supporting in communities.
samples, As drilled under we XX,XXX currently core and this meters September obtained of evaluation. year, of are XX,XXX have which
Regarding environmental, while as shortages Sonora Cananea practices, it and governance corporate in remedy is infrastructure [Indiscernible] building and Nacozari known, Mexico. in water to in drinking social communities
million, $XX invested with X initiatives. and our from aligned over is last commitments we of in for and benefit these policies sustainable will residents effort the This is that XX,XXX part Peru development Mexico and years. have the Approximately
some of water. doing in and We're the innovation use efficiency
dam X.X new tailing We currently the recovering ] is equivalent through insulting to about cubic cubic of are meters Carrara of meters design of unit plant in Peru. water tonne per and tailing This to of a water [ X,XXX million, its capacity in of ] payments. this day of [ With in Honda investment the XX,XXX kind per per largest an day, date is tonnes the $XX filter market. processing
Recovery Buenavista an risk Mexican and management. focus Social the year, in safe Unit and recognition this prevention passing from of Mexican Security work We're after In the successfully on audit conducted continuing September government, healthy Sonora with our by a received environment Institute.
that other which strategies and Mexican effective our safety. health for of units awarded hold recognition, this companies All is actions implement to and also operational preventive
progress registry events to continue have and controls critical performance with prevent the place to We levels in the mitigate make our undesirable improved. risk of or
To continuously monthly Directors. to receive involved monitor of are in have facilitate and managing the executives basis to operating the establish this, on results each Board and monitoring subsequent to reported process, we the head a controls. All supervision of by unit
Win Gesslar this of Peru [ Innovation received proposed the study, XXXX, and framework mining as in the Mining help also, year of the economy climate Mining renewable the Peru Systems Power ] category, clean Permian integration the of XXXX within sources Award use the in energy Arequipa change prepared Rolando area in of scenarios The mitigation. global In generation Southern of sector region process. September engineered XX Convention of systems by Italy. National of renewable by Southern mining the transition Peru energy from in part electricity the
Copper XXXX. by Southern net X emissions achieve to aims
performance to supply and our Report provide people, address Southern incorporated chain. new XXXX the have regarding a supplement to Development published issues, transparency accountability, we page on topics disclosure, ESG to clarity Development our also and on For Sustainable more have biodiversity, human rights Sustainable and Copper's
and This security behest questioners of restricted. the XXXX components our to CVP to has our water we XXXX At include forest the responses climate responses change investors, since been questioner. the that available to questionnaires expanded have and our information
forest [ in to we impact Year-to-date, ] journey environmental me, restoration From a the Xx same reinforced of area have period. the
hictories, versus X,XXX impact. we We pectoris planted restored XXX have
state we works been Additionally, otherwise to lost the tons in Mexico. the of erosion implemented retain in to Sonora will of XX,XXX that have have soil
to to year, our zero having programs, near are this particularly previous In the in programs generate communities is areas deforestation XXX,XXX between far operations we terms of in a we highly the from increase are year. have net X% future net our actions our the strategy these These framework and a close positive biodiversity, in achieve recorded active which offer. Thus participations on of impact operations.
alumni announced per communities Mexico of of One on will of a date, on the of Youth stock, share X,XXX and which authorized year efforts, close Peru. November music regarding to from plans the to is XX, this $X business position, dividend dividends, Directors November cash October students year. with quarterly Board our in shareholders choosing other generation with To our Accordingly, to subjects, meeting as flow and as cash expected and of the most Orchestra know, each of financial in XX you appropriate their Board needs operations, pursue capital its XX degree recently to of is of on at [Indiscernible].
Changing the be celebrated program the in fifth Core X dividend. out determine of noteworthy present a market common company it investment and XX as X bachelor's payable X% record the cash policy review now our
with like gentlemen, and forum to open end much presentation we us. we would you comments, our like joining these today. would the very Thank now And questions. for for up to Ladies
