Mexican Miner Grupo Mexico Posts US$2.3 Billion Profit in 2020

RIO DE JANEIRO, BRAZIL – Mining and transport firm Grupo Mexico reported on Tuesday, January 26th a US$2.30 billion net profit last year, up 4% compared to 2019, helped by higher mining output and growing revenues, the company said in a filing with the Mexican stock exchange.

Its fourth quarter net profit was wider than the year-ago period, up 67% to reach US$1.27 billion, according to the filing.

Grupo Mexico is one of the world’s largest copper producers and a major Mexican rail operator.

During the fourth quarter, production of copper and silver were up compared to the fourth quarter of 2019.

Prices for gold and zinc also grew during the final quarter of 2020.