New year’s resolutions for miners – 2025
Timothy Foden, co-head of the arbitration group at Boies Schiller Flexner, looks at legal challenges facing the mining industry.
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)
