Southern Copper reports copper production decline in 2022, net income down 22.3% to $2.6B copper silver zinc
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The company explained that the lower mined copper output in 2022 was attributable to the Cuajone stoppage and a temporary decline in ore grades . Mined zinc production in 2022 fell by 10.4% y-o-y to 60,010 tons due to a production decline at the Charcas and Santa Barbara mines. Mined silver production dropped 2.1% in 2022 to 18,562 thousand ounces, which reflected a decrease in production at the Peruvian operations and at the La Caridad mine, the company added.
The company said that its 2022 net income was $2,638.5 million, 22.3% lower than in 2021. The net income margin in 2022 was 26.3%, versus 31.1% in 2021.
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