Minsur’s Q3 net profit jumped 101% to 277 million soles (US$98.2 million) from 138 million soles in the year-ago quarter on higher sales volume and metal prices, BNAmericas reported, quoting a company report to Peru’s securities commission Conasev. Net sales rose 53.4% to 612 million soles in the quarter from 399 million soles in the same period of 2009. Operating profit climbed 49.4% year-on-year to 492 million soles in Q3 from 330 million soles.
Minsur is Peru’s only tin producer, operating the San Rafael mine in Puno region and the Funsur smelter and refinery in Ica region. Its refined tin production in the nine months to September rose by 2.0% year-on-year to 26,857 tonnes, while mine production of tin-in-concentrate fell by 5.7% to 26,562 tonnes. In recent months mine output has been temporarily constrained by the need to make new arrangements for tailings storage.
