Inmet earnings slip despite higher sales

Feb 22, 2013 | 05:11 PM | Suzy Waite

Tags  Inmet Mining, copper, zinc, earnings report, Las Cruces Mine, Suzy Waite

NEW YORK — Inmet Mining Corp. posted 2012 net income of $331.2 million, down 1.7 percent from $337.1 million the previous year despite an 18.6-percent jump in sales to more than $1.12 billion.

The Toronto-based company’s copper output rose 31.7 percent to 111,700 tonnes last year from 84,800 tonnes in 2011 as its Las Cruces Mine in Spain achieved a consistent monthly output of 6,000 tonnes since April. However, zinc production fell 17.5 percent....

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