Peruvian tin miner Compania Minera Minsur SA said on Thursday that its first quarter net income fell by 30% to 132.6 million soles ($44 million) from PEN188.6 million in the same quarter a year earlier. Total first quarter sales dropped by 45% to PEN302.5 million from PEN558.9 million in the same period a year earlier.
Minsur operates the San Rafael tin mine in the southern department of Puno and a smelter in the southern coastal city of Pisco. Its mine production in Peru declined by 6.8% year-on-year to 9,014 tonnes in the first quarter, while refined metal output fell by 3.4% to 9,620 tonnes. Minsur now also owns Mineração Taboca in Brazil.
