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Southern Copper Q3 net up 58% on smelting, refining output


Post Date: 28 Oct 2013    Viewed: 380

Southern Copper's net income rose 58% to $344.2-million in the third quarter compared with the same period a year ago on increased output of smelted and refined copper, the company said late Thursday.


Total production, however, fell 3.7% on the year.


The global miner, an affiliate of giant mining company Grupo Mexico, reported a 10.8% drop in sales in the third quarter as the price for copper fell more than 8%. The company's earnings before interest, taxes, depreciation and amortization - a financial indicator known as EBITDA - rose 28.4%.


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