RE:Southern Copper Ukerman, Grupo Mexico is owned by Carlos Slim and his family. I can tell you that for a fact, OCO is better off with another partner when it comes to the buyout. Carlos Slim and his companies are ultra shrewd and would not pay any premium for us. In a year from now you will have other majors sniffing, such as a major Australian like:
BHP Group.
Rio Tinto.
Fortescue Metals.
Newcrest Mining.
South32.
Evolution Mining.
ukermann wrote: So as we approach the New Year, and enter '21 with lots of promise, I can't believe a company like Southern Copper is going to let somebody else partner up with Santo Tomas. They are now approaching $7.5 billion in revenue, easily going to $8 bil on the back of rising copper prices. 80% of their sales is copper, with the bulk of the remainder as Silver and Moly. 4-5 major mines in Mexico, means they're politically connected to make things happen. Owned by their parent, Groupo Mexico, another monster South of the border whose into everything, makes OCO a natural for the firm. Here, in their last earnings statement, Souther Copper made this statement:
Southern Copper’s investment philosophy is not based on the outlook for copper prices but on the quality of the assets
that we operate and develop. Throughout the years, our strong financial discipline has consistently allowed us to make
on-going investments in our considerable asset portfolio.