Losses at Slim's Minera Frisco increase sharply in 3rd quarter
MEXICO CITY Oct 28 (Reuters) - Losses at Minera Frisco , a mining company controlled by Mexican tycoon Carlos Slim, widened six-fold in the third quarter to 1.545 billion pesos ($91.2 million) compared to the same period a year earlier, the firm said on Wednesday.
In the July-September period of 2014, the company posted a net loss attributable to shareholders of 255 million pesos.
The company said it had suffered negative effects from a depreciation in the peso currency, which in the third quarter also hurt Slim's flagship business, telecoms company America Movil.
Minera Frisco's production of gold and silver declined by 22 percent and nine percent respectively from 2014 during the quarter and results were also hurt by a drop in metals prices.
America Movil last week posted a surprise 2.884 billion peso ($170 million) loss, its first in almost 14 years. ($1 = 16.9330 Mexican pesos at end September) (Writing by Dave Graham; Editing by Michael Perry)
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