Southern Copper's 3Q Sales, Profits Rise

Sales also increased 43 percent to about $1.6 billion, compared with $1.4 billion in the third quarter of 2006, the company said Tuesday in a statement.

Last year's third-quarter profits were $521.6 million.

Earnings per share jumped to $2.13 from $1.77 during the same period last year.

Southern Copper said average molybdenum and silver increased by almost 21 percent and 9 percent, respectively, compared to the same period in 2006.

It added that copper production was down slightly due to "illegal" strikes at its Cananea and San Martin mines during the third quarter, but molybdenum production increased to 9.7 million pounds up from 5.1 million pounds in the same period last year.

Controlled by Grupo Mexico SA, which has a 75.1 percent stake in the company, Southern Copper operates mines, smelting and refining facilities in Peru and Mexico.