Peru's Cerro Verde Q2 Net $343.3 Million Vs $137.7 Million
27 Juli 2011 - 12:22AM
Dow Jones News
Copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL)
posted second-quarter net income of $343.3 million, up from $137.7
million in the same quarter a year earlier, due to rising copper
prices and increased sales.
The company said revenue totaled $744.0 million in the second
quarter compared with $375.7 million in the same quarter a year
earlier.
In the second quarter, Cerro Verde said, it produced 170 million
pounds of copper compared with 166 million pounds in the same
quarter of the previous year.
The Cerro Verde mine is located in southern Peru.
Cerro Verde is majority controlled by Freeport McMoRan Copper
& Gold Inc. (FCX). Compania de Minas Buenaventura SA (BVN,
BUENAVC1.VL) 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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