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Grupo Mexico swings to big profit as metal prices jump | |
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2021-04-28 | |
发布年 | 2021 |
语种 | 英语 |
国家 | 国际 |
领域 | 地球科学 |
正文(英文) | ![]() Image courtesy of Grupo Mexico
Grupo Mexico registered a net profit of $1.1 billion in this year’s first quarter, the Mexican mining and transport company said on Tuesday, helped by a 50% surge in copper prices during the first three months of the year. The company’s billion dollar profit in the January-to-March period marked a sharp rebound from a nearly $370 million loss during the same period last year. Grupo Mexico, the country’s third largest company by market capitalization, is the world’s fifth-biggest copper producer as well as a major rail freight operator in Mexico.
The firm’s total revenue during the first three months of this year reached $3.4 billion, up about 40% compared with the first quarter in 2020, the company said in a filing to the Mexican stock exchange. Sales from Grupo Mexico’s mining division during the quarter reached $2.8 billion, up 56% from a year earlier, while sales from the company’s transport unit hit $593 million, down about 2%, the filing showed. Sales for the infrastructure division grew by 8% during the quarter to reach some $147.5 million. Meanwhile, the company’s tax bill during the three-month period reached $476 million. Copper prices rose by 50.2% during the quarter, while prices for silver, molybdenum and zinc also rose by double-digits, or by 56%, 17% and 29%, respectively. Production of the red metal was essentially flat for the quarter at slightly more than 271,000 tonnes. Both silver and gold output were up by about 6%, while zinc production slid by nearly 15% to settle around 16,500 tonnes. The company, controlled by Mexican billionaire German Larrea, runs mines in Mexico, the United States and Peru, and its overall mining business accounted for around 90% of its first quarter profit. (By Noe Torres and Abraham Gonzalez; Editing by David Alire Garcia, Marguerita Choy and David Gregorio) |
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来源平台 | Minging.com |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/324197 |
专题 | 地球科学 |
推荐引用方式 GB/T 7714 | admin. Grupo Mexico swings to big profit as metal prices jump. 2021. |
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