| REVENUE: |
NOTE 13 — REVENUE: The geographic breakdown of the Company’s sales is attributed to countries based on location of customer, and is summarized as follows (in millions): | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | | | | Mexican | | | | | | | | | | | | | | | Mexican | | IMMSA | | Peruvian | | Segment | | Corporate & | | | | | | Open-Pit | | Unit | | Operations | | Total | | Elimination | | Consolidated | The Americas: | | | | | | | | | | | | | | | | | | | Mexico | | $ | 1,010.6 | | $ | 206.0 | | $ | — | | $ | 1,216.5 | | $ | (75.4) | | $ | 1,141.2 | United States | | | 269.0 | | | 4.0 | | | 306.4 | | | 579.4 | | | — | | | 579.4 | Peru | | | — | | | — | | | 340.9 | | | 340.9 | | | — | | | 340.9 | Brazil | | | — | | | 5.6 | | | 185.1 | | | 190.7 | | | — | | | 190.7 | Chile | | | — | | | — | | | 174.5 | | | 174.5 | | | — | | | 174.5 | Other American countries | | | 15.6 | | | — | | | 14.7 | | | 30.3 | | | — | | | 30.3 | Europe: | | | | | | | | | | | | | | | | | | | Switzerland | | | 255.5 | | | 36.4 | | | 141.5 | | | 433.4 | | | — | | | 433.4 | Italy | | | — | | | 2.9 | | | 158.5 | | | 161.4 | | | — | | | 161.4 | Spain | | | 210.6 | | | — | | | 40.9 | | | 251.5 | | | — | | | 251.5 | Other European countries | | | 201.9 | | | 13.0 | | | 79.8 | | | 294.7 | | | — | | | 294.7 | Asia: | | | | | | | | | | | | | | | | | | | China | | | 302.2 | | | — | | | 12.6 | | | 314.7 | | | — | | | 314.7 | Singapore | | | (0.2) | | | — | | | 4.5 | | | 4.3 | | | — | | | 4.3 | Japan | | | 218.7 | | | — | | | 114.8 | | | 333.5 | | | — | | | 333.5 | Other Asian countries | | | 28.2 | | | — | | | 10.2 | | | 38.5 | | | — | | | 38.5 | Total | | $ | 2,511.9 | | $ | 267.9 | | $ | 1,584.4 | | $ | 4,364.3 | | $ | (75.4) | | $ | 4,289.0 |
| | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | | | | Mexican | | | | | | | | | | | | | | | Mexican | | IMMSA | | Peruvian | | Segment | | Corporate & | | | | | | Open-Pit | | Unit | | Operations | | Total | | Elimination | | Consolidated | The Americas: | | | | | | | | | | | | | | | | | | | Mexico | | $ | 1,945.2 | | $ | 444.5 | | $ | — | | $ | 2,389.8 | | $ | (167.3) | | $ | 2,222.4 | United States | | | 560.4 | | | 8.2 | | | 595.6 | | | 1,164.1 | | | — | | | 1,164.1 | Peru | | | — | | | — | | | 633.4 | | | 633.4 | | | — | | | 633.4 | Brazil | | | — | | | 15.1 | | | 397.5 | | | 412.6 | | | — | | | 412.6 | Chile | | | — | | | — | | | 355.8 | | | 355.8 | | | — | | | 355.8 | Other American countries | | | 31.3 | | | — | | | 19.8 | | | 51.1 | | | — | | | 51.1 | Europe: | | | | | | | | | | | | | | | | | | | Switzerland | | | 507.5 | | | 78.5 | | | 319.6 | | | 905.7 | | | — | | | 905.7 | Italy | | | — | | | 8.7 | | | 281.2 | | | 290.0 | | | — | | | 290.0 | Spain | | | 374.4 | | | — | | | 81.7 | | | 456.1 | | | — | | | 456.1 | Other European countries | | | 489.2 | | | 31.5 | | | 204.6 | | | 725.2 | | | — | | | 725.2 | Asia: | | | | | | | | | | | | | | | | | | | China | | | 611.6 | | | — | | | 33.8 | | | 645.4 | | | — | | | 645.4 | Singapore | | | 30.6 | | | — | | | 6.6 | | | 37.2 | | | — | | | 37.2 | Japan | | | 334.8 | | | — | | | 217.0 | | | 551.8 | | | — | | | 551.8 | Other Asian countries | | | 70.6 | | | — | | | 19.1 | | | 89.7 | | | — | | | 89.7 | Total | | $ | 4,955.5 | | $ | 586.5 | | $ | 3,165.8 | | $ | 8,707.7 | | $ | (167.3) | | $ | 8,540.4 |
| | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | | | | | Mexican | | | | | | | | | | | | | | | Mexican | | IMMSA | | Peruvian | | Segment | | Corporate & | | | | | | Open-Pit | | Unit | | Operations | | Total | | Elimination | | Consolidated | The Americas: | | | | | | | | | | | | | | | | | | | Mexico | | $ | 714.7 | | $ | 151.1 | | $ | — | | $ | 865.7 | | $ | (61.0) | | $ | 804.7 | United States | | | 277.6 | | | 0.2 | | | 78.2 | | | 356.0 | | | — | | | 356.0 | Peru | | | — | | | (0.2) | | | 213.4 | | | 213.2 | | | (0.2) | | | 212.9 | Brazil | | | — | | | 8.3 | | | 153.9 | | | 162.1 | | | — | | | 162.1 | Chile | | | — | | | — | | | 132.1 | | | 132.1 | | | — | | | 132.1 | Other American countries | | | 10.8 | | | — | | | 8.0 | | | 18.8 | | | — | | | 18.8 | Europe: | | | | | | | | | | | | | | | | | | | Switzerland | | | 221.6 | | | 15.1 | | | 187.5 | | | 424.2 | | | — | | | 424.2 | Italy | | | — | | | 3.8 | | | 109.0 | | | 112.8 | | | — | | | 112.8 | Spain | | | 136.6 | | | — | | | 26.5 | | | 163.1 | | | — | | | 163.1 | Other European countries | | | 0.7 | | | 1.1 | | | 79.9 | | | 81.7 | | | — | | | 81.7 | Asia: | | | | | | | | | | | | | | | | | | | China | | | 225.2 | | | — | | | 7.6 | | | 232.8 | | | — | | | 232.8 | Singapore | | | 22.5 | | | — | | | 25.7 | | | 48.2 | | | — | | | 48.2 | Japan | | | 125.5 | | | — | | | 146.4 | | | 272.0 | | | — | | | 272.0 | Other Asian countries | | | 19.5 | | | — | | | 10.1 | | | 29.6 | | | — | | | 29.6 | Total | | $ | 1,754.8 | | $ | 179.3 | | $ | 1,178.2 | | $ | 3,112.3 | | $ | (61.3) | | $ | 3,051.0 |
| | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | | | | Mexican | | | | | | | | | | | | | | | Mexican | | IMMSA | | Peruvian | | Segment | | Corporate & | | | | | | Open-Pit | | Unit | | Operations | | Total | | Elimination | | Consolidated | The Americas: | | | | | | | | | | | | | | | | | | | Mexico | | $ | 1,439.9 | | $ | 287.0 | | $ | 0.2 | | $ | 1,727.1 | | $ | (109.3) | | $ | 1,617.8 | United States | | | 563.6 | | | 0.2 | | | 201.3 | | | 765.1 | | | — | | | 765.1 | Peru | | | — | | | 1.0 | | | 437.8 | | | 438.7 | | | (0.9) | | | 437.8 | Brazil | | | — | | | 15.5 | | | 283.9 | | | 299.5 | | | — | | | 299.5 | Chile | | | — | | | — | | | 241.7 | | | 241.7 | | | — | | | 241.7 | Other American countries | | | 22.4 | | | — | | | 10.0 | | | 32.4 | | | — | | | 32.4 | Europe: | | | | | | | | | | | | | | | | | | | Switzerland | | | 441.3 | | | 20.7 | | | 355.9 | | | 817.9 | | | — | | | 817.9 | Italy | | | — | | | 9.1 | | | 209.1 | | | 218.2 | | | — | | | 218.2 | Spain | | | 245.3 | | | — | | | 77.5 | | | 322.8 | | | — | | | 322.8 | Other European countries | | | 3.7 | | | 1.2 | | | 266.7 | | | 271.7 | | | — | | | 271.7 | Asia: | | | | | | | | | | | | | | | | | | | China | | | 504.9 | | | — | | | 11.5 | | | 516.4 | | | | | | 516.4 | Singapore | | | 41.7 | | | — | | | 49.5 | | | 91.2 | | | — | | | 91.2 | Japan | | | 207.2 | | | — | | | 280.3 | | | 487.5 | | | — | | | 487.5 | Other Asian countries | | | 34.2 | | | — | | | 19.0 | | | 53.1 | | | — | | | 53.1 | Total | | $ | 3,504.2 | | $ | 334.7 | | $ | 2,444.2 | | $ | 6,283.1 | | $ | (110.2) | | $ | 6,172.9 |
The following table presents information regarding the sales value by reporting segment of the Company’s significant products for the three-month and six-month periods ended June 30, 2026 and 2025 (in millions): | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | | | | Mexican | | | | | | | | | | | | Mexican | | IMMSA | | Peruvian | | Segment | | Corporate, Other & | | Total | | | Open-pit | | Unit | | Operations | | Total | | Eliminations | | Consolidated | Copper | | $ | 1,859.4 | | $ | 49.2 | | $ | 1,235.6 | | $ | 3,144.2 | | $ | (27.3) | | $ | 3,116.8 | Molybdenum | | | 266.3 | | | — | | | 209.5 | | | 475.8 | | | — | | | 475.8 | Silver | | | 214.2 | | | 117.0 | | | 87.3 | | | 418.4 | | | (42.6) | | | 375.8 | Zinc | | | 76.3 | | | 79.5 | | | — | | | 155.8 | | | (3.6) | | | 152.2 | Other | | | 95.8 | | | 22.3 | | | 52.0 | | | 170.1 | | | (1.8) | | | 168.3 | Total | | $ | 2,511.9 | | $ | 267.9 | | $ | 1,584.4 | | $ | 4,364.3 | | $ | (75.4) | | $ | 4,289.0 |
| | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | | | | Mexican | | | | | | | | | | | | Mexican | | IMMSA | | Peruvian | | Segment | | Corporate, Other & | | Total | | | Open-pit | | Unit | | Operations | | Total | | Eliminations | | Consolidated | Copper | | $ | 3,612.1 | | $ | 91.6 | | $ | 2,449.1 | | $ | 6,152.8 | | $ | (53.4) | | $ | 6,099.4 | Molybdenum | | | 496.3 | | | — | | | 425.0 | | | 921.3 | | | — | | | 921.3 | Silver | | | 535.6 | | | 281.6 | | | 190.0 | | | 1,007.2 | | | (99.9) | | | 907.3 | Zinc | | | 141.0 | | | 166.8 | | | — | | | 307.8 | | | (10.6) | | | 297.2 | Other | | | 170.5 | | | 46.4 | | | 101.6 | | | 318.5 | | | (3.4) | | | 315.1 | Total | | $ | 4,955.5 | | $ | 586.5 | | $ | 3,165.8 | | $ | 8,707.7 | | $ | (167.3) | | $ | 8,540.4 |
| | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | | | | Mexican | | | | | | | | | | | | Mexican | | IMMSA | | Peruvian | | Segment | | Corporate, Other & | | Total | | | Open-pit | | Unit | | Operations | | Total | | Eliminations | | Consolidated | Copper | | $ | 1,319.0 | | $ | 36.3 | | $ | 925.7 | | $ | 2,281.0 | | $ | (21.5) | | $ | 2,259.5 | Molybdenum | | | 192.2 | | | — | | | 162.4 | | | 354.7 | | | — | | | 354.7 | Silver | | | 115.6 | | | 60.6 | | | 50.6 | | | 226.8 | | | (24.9) | | | 201.9 | Zinc | | | 74.5 | | | 62.3 | | | — | | | 136.8 | | | (13.7) | | | 123.1 | Other | | | 53.4 | | | 20.1 | | | 39.5 | | | 113.0 | | | (1.1) | | | 111.9 | Total | | $ | 1,754.8 | | $ | 179.3 | | $ | 1,178.2 | | $ | 3,112.3 | | $ | (61.3) | | $ | 3,051.0 |
| | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | | | Mexican | | | | | | | | | | | | Mexican | | IMMSA | | Peruvian | | Segment | | Corporate, Other & | | Total | | | Open-pit | | Unit | | Operations | | Total | | Eliminations | | Consolidated | Copper | | $ | 2,698.3 | | $ | 57.6 | | $ | 1,975.2 | | $ | 4,731.2 | | $ | (39.7) | | $ | 4,691.5 | Molybdenum | | | 356.6 | | | — | | | 298.6 | | | 655.2 | | | — | | | 655.2 | Silver | | | 215.9 | | | 110.1 | | | 100.0 | | | 426.0 | | | (47.6) | | | 378.5 | Zinc | | | 126.0 | | | 129.7 | | | — | | | 255.7 | | | (21.2) | | | 234.5 | Other | | | 107.4 | | | 37.3 | | | 70.4 | | | 215.1 | | | (1.8) | | | 213.3 | Total | | $ | 3,504.2 | | $ | 334.7 | | $ | 2,444.2 | | $ | 6,283.1 | | $ | (110.2) | | $ | 6,172.9 |
The opening and closing balances of receivables by reporting segment of the Company were as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | | Mexican | | | | | | | | | | | | | | | Mexican | | IMMSA | | Peruvian | | Segment | | Corporate & | | | | | | Open-Pit | | Unit | | Operations | | Total | | Elimination | | Consolidated | | | | | | | | | | | | | | | | | | | | As of June 30, 2026: | | | | | | | | | | | | | | | | | | | Trade receivables | | $ | 1,194.6 | | $ | 97.8 | | $ | 703.4 | | $ | 1,995.7 | | $ | — | | $ | 1,995.7 | Related parties, current | | | 23.6 | | | 23.1 | | | 1.5 | | | 48.1 | | | (37.2) | | | 10.9 | | | | | | | | | | | | | | | | | | | | As of December 31, 2025: | | | | | | | | | | | | | | | | | | | Trade receivables | | $ | 1,149.9 | | $ | 91.9 | | $ | 709.5 | | $ | 1,951.2 | | $ | — | | $ | 1,951.2 | Related parties, current | | | 47.9 | | | 52.6 | | | 0.1 | | | 100.6 | | | (84.3) | | | 16.2 |
As of June 30, 2026, the Company has long-term contracts with promises to deliver the following products in 2026: | | | Copper contained in concentrates (in tonnes) | | 167,100 | Copper cathodes (in tonnes) | | 70,200 | Molybdenum concentrates (in tonnes) | | 20,878 | Sulfuric acid (in tonnes) | | 362,103 |
Provisionally priced sales: As of June 30, 2026, the Company has recorded provisionally priced sales of copper and zinc at average forward prices per pound, and molybdenum at the June 30, 2026 market price per pound. These sales are subject to final pricing based on the average monthly London Metal Exchange (“LME”) or New York Commodities Exchange (“COMEX”) copper prices, LME zinc prices and Dealer Oxide molybdenum prices in the future month of settlement. The following are the provisionally priced copper, molybdenum and zinc sales outstanding as of June 30, 2026: | | | | | | | | | Sales volume | | Priced at | | | | | (million lbs.) | | (per pound) | | Month of settlement | Copper | | 188.7 | | 6.07 | | July 2026 through December 2026 | Molybdenum | | 14.1 | | 31.38 | | July 2026 through October 2026 | Zinc | | 49.9 | | 1.62 | | July 2026 through September 2026 |
The provisional sales price adjustment included in accounts receivable and net sales as of June 30, 2026 incorporates positive adjustments of $13.1 million for copper, $50.1 million for molybdenum and $2.9 million for zinc. Management believes that the final pricing of these sales will not have a material effect on the Company’s financial position or on operating results.
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