Peru's Cerro Verde SAA 4Q Loss $100 Million Vs Net $165 Million
February 05 2009 - 2:17PM
Dow Jones News
Base metals miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL)
said it had a fourth-quarter loss of $100.4 million, compared with
a $165.0 million net gain in the same quarter a year earlier.
The loss was mainly due to weaker revenues due to lower copper
prices.
The company said that revenues totaled $26.1 million in the
fourth quarter compared with $422.7 million in the same quarter a
year earlier.
Cerro Verde is majority controlled by Freeport McMoRan Copper
& Gold. (FCX) Compania de Minas Buenaventura SAA (BVN) and a
subsidiary of Sumitomo Corp. (8053.TO) also have equity stakes in
the company.
-Robert Kozak; Dow Jones Newswires; 511-9927 7269;
peru@dowjones.com