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Sociedad Minera Cerro Verde SAA, operator of the Cerro Verde mine (Arequipa), reported a 24.8% drop in its net pro t for Q1’18, due to lower sales volume.

The mining company registered US$138.3 million, against the US$184 million it generated in the same period of 2017. It said that the drop is linked to a lower production of copper cathodes concentrates due to lower grades mined.

The drop was mitigated thanks to the higher price of copper between Q1’18 (US$2.9 per pound) and Q1’18 (US$2.83 per pound).