Southern Copper says net profit fell 35 percent on weaker prices

LIMA, April 30 Wed Apr 30, 2014 10:30am EDT

LIMA, April 30 (Reuters) - Southern Copper Corp's reported net income dropped 34.7 percent to $323.4 million in the first quarter from a year ago, mainly on weaker sales and lower prices for the red metal.

The global miner, controlled by Grupo Mexico, also said late on Tuesday its copper output rose 9.2 percent to 163,168 tonnes in the first three months of 2014 compared to the same period in 2013, but sales fell 16.5 percent to $1.35 billion.

Southern Copper operates mines in Mexico and Peru.

In February the company said it expects its output this year to increase 5.5 percent to 672,400 tonnes. (Reporting by Patricia Velez; Editing by Alden Bentley)

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