Grupo Mexico’s net profit jumps 34%, boosted by copper output
Copper production during the quarter totaled 270,747 metric tons, up 4.7% from a year earlier.
Egyptian billionaire Naguib Sawiris said on Sunday that he was holding talks to acquire a 51% stake in the state-owned Shalateen mining company.
Sawiris chairs private gold mining group La Mancha and had said that he intended to invest in gold and copper mining in Egypt if investment conditions improved.
Egypt in January issued new regulations that appeared to eliminate the need for mining companies to form joint ventures with the government and to limit state royalties to a maximum of 20%.
(By Ehab Farouk and Nadine Awadalla; Editing by Jane Merriman)
Comments