Peru’s Minsur SA reported second quarter net income of 242.7 million soles (US$81 million), 28% lower than in the same period of 2008, but much improved on the 132.6 million soles ($44 million) achieved in the first quarter. The changes mainly reflect tin price movements, as tin production volumes have been fairly stable.
Minsur operates the world’s largest tin mine, the San Rafael operation in the southern department of Puno and a smelter in the southern coastal city of Pisco. Official figures released recently showed that the company’s tin-in-concentrate production declined by 5.3% year-on-year to 18,486 tonnes in January-June.
