Southern Copper Corp. (SCC) saw earnings increase by
28.4 percent year on year in the third quarter due to
"operating efficiencies and cost containment" measures, it
interest, taxes, depreciation and amortization (Ebitda) totaled
$684 million in the third quarter, up from $532 million in the
same 2012 period.
production totaled 186,038 tonnes in the third quarter, a 15.7
percent year-on-year increase, as operations returned to normal
levels after scheduled maintenance in 2012.
Mined copper, by
contrast, saw a 3.4 percent year-on-year decrease in the
quarter to 154,993 tonnes.
SCCs sales also
fell 10.8 percent to $1.38 billion in the third quarter, mainly
as a result of lower metals prices.
Average copper prices
fell 8.3 percent to $3.21 per pound ($7,076 per tonne) in the
third quarter compared with a year ago, according to SCCs
SCC is 81.8-percent
owned by Grupo México SAB de CV and the remaining stake
is held by international investors.
A version of this
article was first published in AMM sister publication Metal