Cerro Verde's profits drop 49% in Q2 2012.

The article reports on the 49.2% decline in the profits of Peruvian mining firm Sociedad Minera Cerro Verde during the second quarter of 2012. Its second-quarter profits amounted to 173.9 million dollars. During the first half of 2012, total copper sales volumes was 67,902 tonnes. Cerro Verde attributes the decline to lower copper price, a lower volume of releases and lower income for the sale of molybdenum and silver by-products.