Southern Copper Sees Copper Output Fall on Strike in First Quarter, Profit Jumps 70%

SHANGHAI, May 4 (SMM) - Southern Copper Corp announced Wednesday its profit jumped 70% to $314.4 million in the first quarter of 2017, compared to $185.1 million in the same period of last year and $172 million in the fourth quarter of 2016, wenhua.com reported.

Profit rose since copper prices increased 25% and zinc gained 65.8%, it said.

Its copper production decreased 1,418 tonnes due to a two-week strike at Toquepala and Cuajone mine and Ilo refinery. The two mines produced 310,000 tonnes of copper last year.

It plans to expand copper production to 1million tonnes in 2019, the company’s Chair German Larrea said.

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