Saudi Arabia to visit Brazil and Chile as seeks to diversify mining
The diversification strategy includes plans to expand into international mining to secure access to minerals including copper, cobalt and nickel, as well as lithium.
Southern Copper Corp said on Monday that it earned $293.2 million in net profit the fourth quarter, compared to a $287.5 million loss it posted in the same period a year earlier.
The company, controlled by Grupo Mexico, said its copper production rose 4 percent in the fourth quarter from the same period in 2017. It added that a 112 percent rise in net income in all of 2018 was due mainly to higher sales and lower taxes.
(By Mitra Taj; Editing by Sandra Maler)
