Grupo México’s Mining Division increased its sales during H1 2021 thanks to the sustained rise in copper prices during this period despite reductions in its production of the red metal, the company informed in its semi-annual financial report.
Grupo México’s copper production fell 3.1pc to 541,149mt in H1 2021, from 554,405mt during the same period last year. Output decreased 5.6pc to 269,837mt in Q2 2021 from 285,759mt in the same year-ago quarter.
The Mexican company explained that an important part of this reduction was the consequence of the decrease in the mineral grades of its mine in Toquepala, Peru.
Zinc production also decreased by 4pc to 33,577mt in the first half of the year, as against 34,969mt in H1 2020. The trend improved in Q2 2021, compared to 2020, with an increase of 8.9pc, to 17,111mt from 15,706mt.
Despite this, the company reported a 63.8pc increase in its Mining Division sales of $6.03bn in H1 2021, compared to $3.68bn last year. In the second quarter of the year, sales improved 71.1pc to $3.23bn from $1.88bn in Q2 2020.