SOUTHERN COPPER CORP

Southern Copper reports second quarter 2009 results. Highlights includes: net sales of 2T09 and 1M09 were $824.5 millions and $1,446.5 millions respectively in contrast to US$1,461.8 Mlls and $2,961.0 Mlls in 2T08 and 1M08, respectively, mainly as a result of low metal prices, offset partially by an increasing on sales volume of all metals produced by the company. Cash cost per copper pound decreased from 64.4 c/lb in 1T09 to 540.9 c/lb in 2T09. This reduction was a result of a bigger productivity and operative efficiency, as well as better sub products prices. EBITDA in 2T09 rose to $380.4 millions compared to S225.7 millions in 1T09, an increase equivalent to 68.5%. Copper production was 1.7% up from 2T08. In addition, the company increased its mined molybdenum production in 12.6%; refined zinc in 5.7%, and mined and refined silver in 9.1% and 32.6% respectively. The company is ongoing with the Tia Maria project using funds internally generated. This project will increase annual copper production in 120,000 tonnes with an initial startup in 2011. Also, the company continued with the Toquepala concentrator expansion project which it hopes to increase the annual copper production in 100,000 tonnes by the second half 2012.