Southern Peru Copper Corp. (SPCC) is the registered branch of US-based Southern Copper (SCC) in Peru and was founded in 1954 to develop activities in the country. SPCC is the country's largest producer of the red metal. Its operations are comprised of the open pit Toquepala and Cuajone mines, and the Ilo metallurgical complex. It also co-owns the Tantahuatay gold operation in Cajamarca region with local precious metals miner Buenaventura. SPCC's exploration projects include the Los Chancas copper-molybdenum project in Apurímac region, and the Tía María copper project in Arequipa region. SPCC is a majority-owned, indirect subsidiary of Mexican conglomerate Grupo Mexico.