Southern Copper reports $293.2m in Q4 net income

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.