Peru's largest copper producer, Cerro Verde, reported a surge in fourth-quarter 2017 net profits, with higher copper prices offsetting a decline in sales volumes.
The mine, operated by Freeport-McMoRan, recorded a net profit of $217.6 million in the last three months of 2017, up by 89.4% from $114.9 million in the fourth quarter of 2016, the company said.This was attributed mostly to higher realized copper...