Copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) posted first-quarter net income of $238.6 million, compared with $106.2 million in the same quarter a year earlier, as operating income rose sharply.

First-quarter operating revenues totaled $534.1 million compared with $320.1 million in the same quarter a year earlier, as the price of copper and other metals increased.

The Cerro Verde mine is located in southern Peru.

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.

-Robert Kozak; Dow Jones Newswires; 511-99927 7269; peru@dowjones.com
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