Grupo Mexico Boosts Copper Production, Sales in Q3, Raises 2024 Outlook

Published: Oct 24, 2024 11:49

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According to SMM, mining and transportation giant Grupo Mexico has reported that its copper production reached 280,897 tonnes in the third quarter, marking a 10.6% increase from the same period in 2023, while sales in the mining sector surged 17.8% year-on-year. The group has slightly raised its copper production outlook for 2024 to 1.09 million tonnes, slightly higher than the 1.08 million tonnes projected in July. Controlled by billionaire German Larrea, Grupo Mexico is one of the world's largest copper producers, with mines in Peru, the United States, Spain, and its headquarters in Mexico. It also operates major freight railways in Mexico. This leading global copper producer achieved a 13.4% increase in sales revenue in the third quarter, reaching US$4.13 billion. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) reached US$2.17 billion, up 22% year-on-year.

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