LIMA – Southern Copper Corp's net profit fell 17.5% to $388.2-million in the first quarter from the same period a year earlier, as lower metal prices weighed on sales, the company said on Monday.
The company's copper production rose 11.6% year-on-year in the Jan-March period, but net sales slipped 4.8%, Southern Copper said in its earnings statement. It added that it expects the Peruvian government to issue a construction license for its long-delayed Tia Maria project in coming months.