LIMA, Feb 7 (Reuters) - Southern Copper Corp’s net income dropped 23.6 percent to $406.2 million in the fourth quarter from a year earlier, the global miner said.
In all of 2013, earnings fell 16.3 percent to $1.618 billion because of weaker output and lower copper prices, the company said in an earnings report late on Thursday.
Last year Southern’s copper production declined 2.3 percent to 637,068 tons.
Southern, an affiliate of mining company Grupo Mexico , expects its output of the red metal to rise 5.5 percent this year to 672,400 tons.
In the fourth quarter, earnings before interest, taxes, depreciation and amortization fell 19.1 percent.