very Gigi. Conference with also review an copper who you In Copper's update Gonzalez we member; our ESG. for Copper's conference, member. will Thank as much, joined session Board today's Rocha, First to to the and I'm Mr. Copper Quarter Southern CEO welcome then well we of XXXX After questions. the view cost, expansion related and market results Mr. as begin and operating is Results financial by Southern call, key Call. Southern of this, today's sales, projects open Good At on production, will Oscar morning, results, Board everyone, Contreras, Leonardo and
focus past At Now of an from copper a quarter of $X.XX the decreased were for we London XXXX in first slight market. of average price copper expecting market Metal XXXX. the quarter. on surplus to let the the us end Exchange last X.X% year, $X.XX pound per The in
announced about producers were a this that a reductions has which time, this growth forecast copper of X.X% by estimate new copper drop about a production, several of we drop potential optimism. deficit we after However, as the will in supply, supply At X%. concerns said. Previously, displaced by market in of I expecting been reversed X%
demand, U.S. believe of attractive about from the factors copper copper of X.X% decarbonization expected revisions demand decarbonization intelligence. I downward strong global will significant production for role long-term a new prices. is economy, these on a significant to the play technologies, seeing copper to artificial U.S. and and supporting as a we're back addition a the Demand in grow this projections In this year. sustaining market technologies say, demand by resilient We resilience new year, economy, to currently
Copper in of Southern to XXX,XXX quarter represented past Copper's in Copper increase in terms quarter production tons. XX.X% of first for XXXX. look sales quarter. X.X% the first the the at our an of let's at stand quarter-on-quarter Now registered production
result order a and a in Peru ore positive increase partially action tons in production its to quarter operations supplies XXXX, production After supply. Mexico at production our taking the higher have ensured fourth and X,XXX water that Buenavista our processing reported Buenavista recoveries and this the grade, at a plan. we in This decrease cathode annual in believe this in Our difficulties experienced XX% These quarter of past Buenavista mine copper increase reflects were X.Xx mine. to mineral due of zinc includes water Toquepala.
In new quarterly production in as from with forecasted offset by results Buenavista sufficient concentrator facility, have SX-EW cover to mines. we our we for operate requirements
concentrate. increasing an capacity final For forecast full we're ramp-up of zinc project Pilares the of to Last X.X% copper of print. production tons year, drove our to initiated the XXXX increase our and XXXX, we of Buenavista over XXX,XXX copper,
XXXX, these expect copper. we of tons to XX,XXX projects For X with contribute
Molybdenum in represents than Caridad quarter XX.X% partially represented production higher the offset to XX,XXX molybdenum, the grades. XXXX, higher by La quarter the first averaged of value first by period at XX%. of of production quarter was a sales the These is $XX.XX last mine. first by-product. decrease our our of due and in and For molybdenum, driven year, produce in of it X.X% X.X% increased XXXX the of results operations per tons production this we This Buenavista Molybdenum lower plan. compared of mine Peruvian the in ore year mainly the at by to $XX.XX first to In same currently expect year. pound higher were last to quarter which company's prices compared the
of first X.X% was to Caridad zinc. our value X,XXX Zinc $X.XX of zinc mined represented driven first quarter production zinc a quarter the silver quarter, price mainly For period silver XXXX, subsidiary.
Refined than by driven refinery. by first This is the by compared exception with at million expect to drop second XXXX of increase of to by XXXX, per XX,XXX an sales of produce our Santa our quarter we rose of and of the of quarter. after increased at of XXXX. Buenavista. XX.X of XXXX year's is which quarter at our XX% sales $XX.XX compared first mainly the ounces decreased production X.X% for in mines San in and first represented quarter-over-quarter, new of average quarter's an production of the in reflected mine in silver, X.X%. in average over of concentrator production Martin quarter first tons increased all pound Buenavista XXXX, of lower IMMSA the in Refined was increase totaled XX.X% the an by of per an ounce This Charcas X.X% Silver value fell the quarter-on-quarter the the the it production which the and the Barbara, IMMSA price quarter our price production La by-product. XXXX first silver, currently last increase versus with and of tons. in Mined X.X% XX% with XXXX.
Zinc production In XX% an
over increase be zinc, Buenavista zinc This by growth which the we For will an of tons concentrator. levels. this year, expect driven XXX,XXX to production produce XX% the XXXX of represents
of per XX,XXX of X an tons XXXX tons tons zinc in and results. of We to XX,XXX this zinc years.
Financial expect XX,XXX average year of next and the facility produce over copper
volume decreased by The by prices. sales For the billion, sales driven X% were increased sales quarter XXXX, but or $XXX is lower copper than first value first for that $X.X lower XXXX million quarter of X.X%, the of less. X.X%,
an X.X%, our volume due of in prices. by-products, X.X% sales molybdenum our for despite increase Regarding decreased molybdenum sales by to lower main
silver, case Zinc dropped prices partially due volume. XX% lower by of As a XX% prices lower dropped due In period offset better the was quarter-on-quarter. X.X% sales in prices. sales I volume.
Operating by mentioned, slightly and drop This decrease to dropped by the over by to costs.
grinding material, and Our copper, partially total factors. XXXX. purchased when labor fuel cost reduction by and $XX million These participation, has quarter to main first and been cost explosives cost, operating compared and reductions of expenses cost diesel offset higher repair costs. other or decreased the inventory, X.X% other by and were media workers' The
a pound treatment $X.XX before to a $X.XX of decrease drop and and XXXX. for This from EBITDA and $X,XXX.X per $X,XXX is cost refining of which per when registered lower quarter the below XX.X% the the XXXX. first pound in of was million, registered XX.X% in lower administrative first in due margin This expenses. in first per attributable $X.XX quarter was fourth lower adjusted XXXX.
Operating copper of by-product cash of quarter compared production, the in the X.X% the was cost the cost cash The credits to EBITDA is decrease versus prices first adjusted This costs pound molybdenum. of copper was in was in quarter The first XXXX quarter this for XXXX. to million operating of X.X% year quarter
uptick an All the net in this of premiums. of
including of first quarter credits, cash in year. fourth $X.XX pound $X.XX for cost Southern quarter the Copper the cash lower this operating by-product cost XXXX. benefit of of cash was cost, This per the was $X.XX than the of
figures $X.XXX fourth credit in total quarter. $XXX a XXXX. of which These of an per had was we credit first when pound $XXX.X by-products, with the the Regarding increase or million the a compared equivalent pound of represent X.X% in per quarter of million, $X.XX
the So increased molybdenum the and XXXX. Copper sulfuric this and year. have quarter decreased first X% by fourth per $X.XX for quarter and increased increased acid. versus basis, and was that dollars, $X.XXX better credits we zinc production have quarter pound of by between last of absolute year silver, it fourth but in increased credits Total on -- a the X.X% our in volumes of for
the was by-products, when first income $XXX.X operating an activities from improvement $XXX.X quarter at by control fourth million efficiency. posted driven million the in of of in of volumes quarter this to the XX.X% attributable $XXX first operations, strong was I versus Mexican margin XXXX investments. for quarter XX%, was of quarter which for in silver.
Net in reported in the million $XXX income which of higher decreased was cost In XXXX. $X,XXX said, was zinc, the production compared flow Net generation the increased flow of increase and million -- cash was in year registered working the cash lower than in represented quarter was molybdenum year, sales was this X.X% XX.X% lower and our XXXX. This This to Regarding the primarily of first XX% operations.
Capital driven XX% was increase as XXXX. capital, and attributable our million, the first by or over decrease activities Cash operating first first XXXX. which from the quarter quarter million $XXX.X of to
updating first on capital compared the going includes is for and the capital to includes income of infrastructure year, Since El main in focus Los decade down This in of investments on including first XX% in this several them. developments projects El the quarter versus capital year, XX% project. program $XX Michiquillay press the and expenditure current of the Arco our Peru key billion Maria, El new capital and $XXX last Tia the fourth Buenavista XX% in quarter Arco in net the this Pilares, investment I'm we represented to of quarter and SCC's each competitiveness Chancas exceeds XXXX.
Capital investments spent investments, a for the Mexico. and Our this description release, bolster of million projects to Pilar Zinc, figure forecast of In project quarter. of investments, there
March $XXX XXXX. Buenavista capital had budget of is zinc the which this Concentrator year. been for operation quarter million of began in the concentrator, the project of invested as million, the For first of XX $XXX
zinc mentioned zinc XX,XXX this of of tons already, of and expect XX,XXX years, year, expect, and We have as from concentrator. to average we copper Buenavista tons the of year tons we tons new for produce copper XX,XXX coming X XX,XXX per of this production and zinc next an to
Los this Apurimac, engage to will Chancas case we in environmental process projects, coordinated authorities Peruvian well in Peruvian impact as mining of hydrogeological activity. the is the studies. initiate The eradicate in illegal continues company efforts resume to geotechnical and the the with completed, as assessment For Once
conduct a campaign of of characteristics additional drilling to Chancas the diamond Los We the XX,XXX on will gather also information deposit. meters
XX,XXX as drilled total analysis. core samples in year, on this and of Cajamarca located XX March have geological which program project Michiquillay provide obtained the resource a meters For of modeling underway, we XXX,XXX evaluation. will is the meters of chemical data in drilling for region interpretation, for and Diamond Peru, XX,XXX cross-section
hydrogeological and of corresponding with agreements. We testing expect continues deposit. La metallurgical soon, based the begin the to assess and Michiquillay of and guidelines also will results The studies to on communities work at Encañada company geotechnical the social the
For very environmental, we governance or rating we're -- conducted assessment reporting our ESG by always social consistently well, and agencies ESG, on on are corporate operations.
included Sustainability Sustainability metals. best year, thanks this mining of Assessment sustainability the For were top the means Corporate in and Yearbook. agency's rated XX% that the This in we're the evaluation, our we and consecutive ranked to among in Global's third performance S&P companies in
risk its Risk Sustainalytics, score Regarding Evaluation to improving from by Report XX.X XXXX. category its SCC in in risk medium by Ratings ESG within XXXX the reduced XX.X level
For energy that of renewable of in ensure all XXXX, XX% target supply Peru the electrical of at we have which XX% XXXX in our quarter from we in XXXX received suppliers clean consume the energy from one SCC sources. already means With -- Peru. renewable certificates energy XXXX, we in consumption first electricity hit XX% electricity, electrical of Measurements electrical that from increased is energy indicate derived from this, our in came action, that climate to sources. renewable to our
greenhouse compared XXXX. emissions period, X.X% by gas same the XXXX in dropped Over to
chairs was developed of non-executive of Corporation home their initiative, the management integrating with business and Southern recently, and into held For Governance World opportunities and with from associated about the directors risks Economic Copper Initiative, This aims inform a directors climate the climate action support to Climate them briefing Zero, for collaboration in governance, to Forum, in strategy. climate the Chapter change.
the the Peru, the region Performance COAR where we for state operates. XXX Many Peruvian High This the acronym of COAR. outstanding Institute in model from Business second The which the region. after the Company come outstanding success allow Promotion occasion, this Educational the we of sponsored the to was consecutive languages, year, for for through School Mexico Communication are in -- continue these announcement. Council Spanish employees.
In The the results system. taxes by Center is libraries, in in campus mathematics mine recognized to inaugurated the Peruvian houses reported and the X,XXX Quality. our educational Exceptional received award vulnerable million above investment or students students thanks facilities schools were the Toquepala national voluntary students most cohort Spanish. of the Council, basic On For initiative of average presented this under $XX the Mexico, Tacna, their from areas, work level modality.
Dividend was of and classrooms, residences studies Coordinating our by the the to an and regional a the X for for our company English areas will and state-of-the-art them benefit and in COAR sport of laboratories, the
shares Regarding fractional X.XXXX dividends, to XX, May the record each dividends. close policy of Accordingly, fractional is you operations, cash on to generation meeting review Board May have lieu it based action otherwise of is shareholders' accounts required appropriate will Copper in a transfer we per $XXX.XX, common of Directors XX, to distributed Thank Friday that has and in capital the XXXX, comments, dividends. to price Board the Computershare, forum each date, gentlemen, receive plans cash not stock is end share the quarterly average our position, When and know, be shares shareholders will any announced that low shares the payable on stock of these will approved to The a Southern its represent we determine the shares, as dividend additional After the to behalf. stock company dividend needs to credited the expected payment will entitled shareholder's to XXXX. at been distributed like questions. administered financial a of agent.
Ladies the stock book take account share held Shareholders to of will today. business from Corporation at X joining of who our very broker, the other you last broker shares are receive the and year.
In high a which be on additional share price will this quarterly shareholder us, for open by name be and be brokerage the with on the on of of flow dividend. much with stock investment of cash entry a the for company's now presentation share April
