Brazil’s largest tin producer Paranapanema reported a consolidated net loss of 44mn reais (US$22.5mn) for the first quarter of 2007, versus a net profit of 9mn reais in same-period 2006. The losses were mainly due to problems in copper, and higher tin production and prices helped boost the diversified group’s total revenue.
Results were adversely affected by tighter supplies of copper concentrates to the Caraiba copper smelter and problems caused by copper price volatility to the copper fabricator Eluma.
The Taboca-Mamoré tin business produced 1,791 tonnes of refined tin in January-March, according to SNIEE data, 45% higher than in the corresponding period of 2006.
