Southern Copper Q4 profit flat at $531.8 million

LIMA Thu Jan 31, 2013 4:56pm EST

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LIMA Jan 31 (Reuters) - Southern Copper posted on Thursday net income of $531.8 million, down 1 percent from the same period a year earlier on higher costs and lower prices from some of its products.

The miner, a unit of Grupo Mexico, said capital expenditures were a record $1.05 billion in 2012.

"We will continue our investment program to increase copper production capacity by approximately 84 percent from 640,000 tons to 1,175,000 tons by 2017," the company said.