The Peruvian iron ore producer, Shougang Hierro Peru (SHP), has posted a net profit of PEN 241.3 million ($64.0 million) for Q3 2024, 53.6 percent less than in Q3 2023.
According to the company, the lower profit reflects a combination of lower production and lower sales prices for its iron ore.
Net sales declined by 18.4 percent to PEN 1.235 billion, the production costs declined by 4.18 percent to PEN 738.4 million, the gross profit declined by 34.1 percent to PEN 497.5 million, and the operational profit declined by 37.8 percent to PEN 425.5 million.
During Q3 2024, the company sold 4.564 million mt of iron ore, down from 4.787 million mt in Q3 2023.
$=PEN 3.77 (October 29)
