US-based mining company South Copper’s (SCC) copper production rose by 5.8pc to 241,967mt in Q1 2020 (Jan-March) from 228,629mt in the prior-year period. The company’s zinc production rose by 3.8pc to 19,263mt from 18,550mt in the prior-year quarter, according to SSC’s quarterly report.
The rise in output was driven by a new Toquepala concentrator along with higher ore grades and recoveries at the Cuajone mine.
SCC’s copper sales in the quarter increased by 10.6pc to 251,553mt from 227,424mt in Q1 2019. Zinc sales also increased by 7.1pc to 28,885mt from 26,962mt.
In Q1 2020, SCC’s net income declined by 44.7pc to $214.8mn from $388.2mn in Q1 2019. Income decreased due to higher costs on account of leachable material and third party copper purchases.