The Peruvian iron ore producer, Shougang Hierro Peru (SHP), has posted a net profit of PEN 178.86 million ($49.822 million) for Q2 2025, against PEN 790.99 million for Q2 2024.
According to the company, the lower profit reflects chiefly the impact of an accident with the ship loader in the San Nicolas terminal, which ultimately reduced iron ore sales in Q2 2025 to 5.856 million mt from 10.247 million mt in Q2 2024.
Lower iron ore prices have also played a negative role in the results, the company added.
Net sales declined by 83.1 percent to PEN 240.69 million, while the production costs declined by 67.2 percent to PEN 241.817 million, resulting in a gross loss of PEN 1.124 million and an operational loss of PEN 53.569 million.
The positive profit was achieved thanks to financial and tax gains.
$=PEN 3.59 (July 31)