Minsur SA said second-quarter profit fell to 61.7 million soles ($23.5 million) compared with 117.6 million soles in the same quarter a year earlier. The decline was attributed to lower tin prices and weaker sales volumes. Second-quarter net sales were 183.7 million soles, down 20% on the same period a year earlier.
Minsur operates the San Rafael mine in Puno province, Peru’s only tin mine, and an integrated smelter and refinery near Ica. Mine production has fallen below the targeted annual rate of 29,500 tonnes this year.
