Silver, zinc sales help boost Grupo Mexico profit 57% in first quarter
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Grupo Mexico reported a 57% profit increase in Q1, driven by higher silver and zinc sales, with net profit at $1.71 billion and revenues up 33% to $5.57 billion. Core earnings (EBITDA) rose nearly 50% to $3.31 billion. Copper production fell 2.8% to 258,138 metric tons, while silver and zinc production grew by 11.1% and 2.0%, respectively. The company aims for 1.03 million tons production in 2026 and is reviewing plans to double mine output. The Tia Maria project in Peru is 32.5% complete and expected to start in Q3 2027, despite local opposition.
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