Peruvian tin miner Minsur SA said its third-quarter net income totaled 137.7 million soles (US$47.3 million) compared with PEN298.7 million in the same quarter a year earlier, Dow Jones reports. Third quarter net sales were PEN399 million compared with PEN639.4 million in the year-ago period. "The variation in sales was due mainly to the decline in the price of tin and lower sales volumes," the company said. Despite lower tin prices, Minsur remains one of the most profitable listed non-ferrous metals producers.
Minsur operates the San Rafael tin mine in the southern department of Puno and a smelter in the southern coastal city of Pisco. Mine production in the first nine months of the year declined by 3.7% to 28,167 tonnes while refined tin output fell 5.4% to 26,325 tonnes.
