Peru's Cerro Verde 2009 Net Income $708.5 Million Vs $718.4 Million
10 Februar 2010 - 3:07PM
Dow Jones News
Copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL)
posted fourth-quarter net income of $244.6 million, compared with a
loss of $100.4 million in the same quarter a year earlier.
The increase in net income was due to increased sales revenues
as copper prices improved.
The company said that operating income totaled $559.4 million in
the fourth quarter compared with $26.1 million in the same quarter
a year earlier.
For full year 2009, the company posted net income of $708.5
million compared with $718.4 million in 2008.
Cerro Verde is majority controlled by Freeport McMoRan Copper
& Gold (FCX). Compania de Minas Buenaventura SAA (BVN) and a
subsidiary of Sumitomo Corp. (8053.TO) also have equity stakes in
the company.
-By Robert Kozak, Dow Jones Newswires; 511-99927 7269;
peru@dowjones.com
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