Mining companies in Peru are expected to post mixed results for the
first quarter of 2012, with some firms impacted by lower metal prices
and others benefiting from higher output, brokerage Inteligo SAB said.
Southern
Copper Corp. (SCCO, SCCO.VL), one of the world's biggest producers of
copper, is expected to post a net profit of $608.3 million in the first
quarter, an increase of 27% compared with the prior-year period,
Inteligo said.
The forecast is based on expectations that Southern
Copper had higher output in the quarter thanks to an increase in
production from its Buenavista mine in Mexico. Southern Copper operates
mines, smelting and refining facilities in Mexico and Peru. Grupo Mexico
(GMEXICO.MX) has a controlling stake in Southern Copper.
Southern Copper is expected to report its first-quarter results April 30.
Compania
de Minas Buenaventura SAA (BVN, BUENAVC1.VL), Peru's largest publicly
traded precious-metals miner, is seen reporting a slight improvement in
its first-quarter results due to higher precious-metals prices, Inteligo
said. Buenaventura's net profit is seen at $223.9 million, a 2.6%
increase over the year-earlier quarter.
Buenaventura said it will release its results April 27 after the market closes.
Other
mining companies in Peru are expected to have been hit in the first
quarter due to a decrease in base-metal prices, which were hurt by
concerns about a slowdown in the global economy.
Volcan Compania
Minera SA's (VOLCABC1.VL) net profit is forecast to have declined 34% in
the first quarter to $59.5 million, Inteligo said. "The performance of
Volcan will be impacted by the fall in metal prices, however higher lead
production at all of Volcan's units will mitigate this impact,"
Inteligo said.
Tin-mining company Minsur SA (MINSURI1.VL) is
expected to post a 51% decrease in first-quarter net profit to $61.7
million on lower tin prices and output, while the quarterly net profit
of Sociedad Minera El Brocal SAA (BROCALC1.VL) is seen falling 21% to
$18.6 million, Inteligo said.
Peru is a major global producer of copper, gold, silver and zinc, among other minerals.
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