- Southern Copper , one of the world’s largest copper producers, announced Thursday that its mined copper production in Q2 2023 increased by 9.2% y-o-y to 227,533 tons .
According to a press release, production at Cuajone was up 22%, driven by higher recoveries and by the return to full operating capacity this year, while output at Toquepala increased 19.5%, which was mainly attributable to higher ore grades. Production at the company’s Mexican operations increased 2.7%.
Q2 2023 operating cash costs, net of by-product revenue credits, were $1.12 per pound of copper, which represents an increase of 4% compared to the Q2 2022 figures, primarily due to higher production costs and lower by-product credits for zinc and sulfuric acid. Southern Copper also reported that its Q2 2023 net income was $547.5 million, which represents a 26.6% increase with regard to the $432.3 million registered in 2Q22.
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