Southern Copper has released its Q1 results detailing overall net income 49.7 percent higher than Q1 2017.
Southern Copper (NYSE:SCCO) has released its Q1 results detailing overall net income 49.7 percent higher than Q1 2017.
As reported by the company a higher price of copper (+19 percent) helped offset a decrease in overall copper production.
As quoted in the press release:
Copper production decreased 4.2 percent in 1Q18 when compared with 1Q17, principally due to a lower production at the Buenavista SX-EW plant. We have been obtaining lower ore grade in the pregnant leaching solution of this plant due to the lower solubility index in our new leach pads and the characteristics of the ore that is being deposited in such pads. The company has developed a 12-month corrective program to overcome this temporary reduction in production. While we work on this program, we expect to produce 115,000 tons of copper from our SX-EW plants in Buenavista, which will reduce our copper production guidance for the year by 30,000 tons to 901,000 tons. It is important to note that this year, we will produce an additional 40,000 tons of copper contained from our new concentrator in Toquepala, which will start ramp-up in the 3Q18. Therefore, we are still expecting a 24,000 tons growth in copper production when compared to last year’s 877,000 tons.
Click here to view the full Souther Copper (NYSE:SCCO) press release.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1801.89 | +0.36 | |
Silver | 20.82 | +0.02 | |
Copper | 3.68 | -0.03 | |
Palladium | 2224.19 | +14.20 | |
Platinum | 965.47 | +2.48 | |
Oil | 91.88 | -2.46 | |
Heating Oil | 3.51 | +0.03 | |
Natural Gas | 8.78 | -0.09 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured Base Metals Stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.