Copper drop sinks Southern Copper results

Jul 29, 2014 | 07:11 PM | Saranya Kapur

Tags  Southern Copper, copper, zinc, molybdenum, German Larrea, Saranya Kapur

NEW YORK — Despite increased revenues from copper sales and higher zinc and molybdenum prices, Southern Copper Corp. reported a 9.5-percent year-on-year decline in second-quarter earnings due to a drop in average copper prices.

Copper production from the Phoenix-based company’s mines in Peru and Mexico grew to 165,369 tons in the three months ended June 30, up from 157,592 tons in the same quarter last year, while molybdenum production climbed 29.6 percent to 5,821 tons and zinc output rose 39 percent to 16,498 tons.....





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