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Grupo Mexico sees higher costs, lower production

Copper company Grupo Mexico (GMex) reported net income of US$576.5 million on sales of $3.1 billion in the quarter to September 30, down 29.5% compared with the prior year period due to falling sales in its mining division.

Staff reporter
The Cuajone copper mine of Grupo Mexico's Southern Copper subsidiary

The Cuajone copper mine of Grupo Mexico's Southern Copper subsidiary

The mining division's sales fell 20.1 % to $2.4 billion in the quarter due to a general decrease in ore grades, and a decline in copper and silver prices. GMex estimates its Peruvian operations will...

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