Southern Copper reports lower Q1 profit as river spill clean-up costs mount

Mexican mining giant Grupo Mexico subsidiary Southern Copper has reported a 12.7% slide in profit for the three months ended March 31, as expenses related to the Sonora river spill last year impacted the bottom line. The NYSE- and BVL-listed miner reported net income of $282.4-million, which was 22.2% of net sales, lower than the net income of $323.4-million, or 23.9%, of net sales in the comparable quarter last year.