• Southern Copper average operating margin for 2023 was 43.52%, a 10.95% increase from 2022.
• Southern Copper average operating margin for 2022 was 48.87%, a 4.46% decline from 2021.
• Southern Copper average operating margin for 2021 was 51.15%, a 41.38% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.