Southern Copper Q2 net income down 53.7% to $432M; EPS $0.56 vs $1.21; Cuajone stoppage hits production

SOUTHERN COPPER CORP/

2022-Q2 EPS reported $1.57 revenue$5,070,700,000

Net sales $2,306.9M, down 20.4% YoY; net income $432.3M, down 53.7%; EPS $0.56 vs $1.21.
Adjusted EBITDA $1,021.4M, down 45.2%; margin 44.3% vs 64.3% in Q2 2021.
Copper production fell 12.1% to 208,428 tonnes; Cuajone mine stoppage of 54 days and lower ore grades.
Operating cash cost per pound $1.10, up 87.6% from $0.59; Board authorized $0.75 dividend payable Aug 25.
Peruvian projects: $7.9B commitment incl. Tia Maria, Los Chancas (attacked by illegal miners), Michiquillay.

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