Southern Copper Says Q1 Net Income Up 30 Pct-Shanghai Metals Market

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Southern Copper Says Q1 Net Income Up 30 Pct

Industry News 08:58:52AM May 02, 2012 Source:SMM

LIMA, April 30 (Reuters) - Southern Copper Corp reported on Monday a net income of $621.4 million for the first quarter of 2012, up 30 percent from a year ago, as higher sales volumes and lower operating costs offset weaker copper, molybdenum and zinc prices.

The company, a major global copper producer with mines in Peru and Mexico, said sales rose 13 percent to $1.8 billion from the same period a year earlier.

Copper production increased 23 percent to 152,906 tonnes in the quarter due mostly to increased output at the Buenavista mine in Mexico and higher ore grades in Peru, the Grupo Mexico affiliate said.

 

Southern Copper Says Q1 Net Income Up 30 Pct

Industry News 08:58:52AM May 02, 2012 Source:SMM

LIMA, April 30 (Reuters) - Southern Copper Corp reported on Monday a net income of $621.4 million for the first quarter of 2012, up 30 percent from a year ago, as higher sales volumes and lower operating costs offset weaker copper, molybdenum and zinc prices.

The company, a major global copper producer with mines in Peru and Mexico, said sales rose 13 percent to $1.8 billion from the same period a year earlier.

Copper production increased 23 percent to 152,906 tonnes in the quarter due mostly to increased output at the Buenavista mine in Mexico and higher ore grades in Peru, the Grupo Mexico affiliate said.