Jump in Minsur Sales and Profits

Feb. 17 -- Higher tin prices boosted Peruvian tin miner Compania Minera Minsur SA's fourth-quarter net profit to 315.8 million soles (US$114 million), compared with PEN202.1 million in the same quarter a year earlier, Dow Jones reported. Fourth quarter net sales were PEN556.9 million, compared with PEN410.9 million in the same period a year earlier.

For full-year 2010, net profits totalled PEN1.06 billion, up 48% compared with PEN715.1 million in 2009, while sales rose by 65% to PEN 2.53 billion. Production of tin-in-concentrates from Minsur’s San Rafael mine dropped 9.7% to 33,848 tonnes in 2010 while its production of refined tin was 36,052 tonnes, up 6.3% on the previous year.