NEW YORK Lundin
Mining Corp.s third-quarter net income fell 26.4 percent
year on year due to "lower realized metal prices," the company
said Oct. 30.
reported third-quarter net income of $27.9 million, down from
$37.9 million in the same period last year, despite net sales
rising 10.5 percent to $176.4 million from $159.6
were hurt by "lower realized metal prices, higher per-unit
production costs and unfavorable exchange rates," it said,
although those factors were partially "offset by lower general
exploration and business development expenditures."
copper, zinc and lead production levels "were largely in line
with expectations for the quarter, with total zinc production
at its highest level in years," the company said.
operations continued to perform generally in line with
expectations, and as we enter into the fourth quarter we are
pleased to be able to modestly increase production guidance for
copper, zinc and nickel," Lundin president and chief executive
officer Paul Conibear said in a statement.
income for the first nine months of the year fell 32.6 percent
to $94.6 million from $140.3 million in the same period last
year on sales that dipped 0.7 percent to $540.9 million from