Freeport Indonesia to process 400,000t of copper concentrate at new smelter
Earlier this month, Freeport obtained an export permit for the rest of the year from the government.
Southern Copper Corp surprised the market by reporting a $287.5 million net loss in the fourth quarter on Friday, citing a $743.3 million one-time payment related to U.S. tax reform.
Analysts had forecast a $419 million net profit for the company in the fourth quarter, according to Thomson Reuters I/B/E/S.
The Arizona-based company, controlled by Grupo Mexico, said that without the tax adjustment it would have posted $455.8 million in net profit. In the last quarter of 2016, Southern earned $171.9 million.
(Reporting By Mitra Taj Editing by Chizu Nomiyama)
