Grupo Mexico reports higher profits

Grupo Mexico reported that its second-quarter net income soared by nearly 79% compared with the same period last year, reaching US$2.2 billion.

Sales from the company, one of the leading copper producers, rose 35% to US$5.7 billion for the quarter, according to a press release.

The company produced 257,537 metric tons of copper in the second quarter, down 3.7% from the same period in 2025, due to a decline in Peru and at its US subsidiary, Asarco; the drop was partially offset by an increase in Mexico.

Sales for the main mining division surged 41.3% compared to the previous year, and the company maintained its 2026 forecast to produce 1,034 million metric tons of copper.

Last month, Grupo Mexico raised US$1.2 billion through a 10-year unsecured senior bond issuance, funds it plans to allocate to the Tia Maria copper project in Peru.

Alsea, on the other hand, posted US$1.2 billion in sales, representing a 0.9% decrease compared to the same quarter of the previous year. Meanwhile, its net income fell by 48.5% compared to 2025. This decline was primarily due to a high basis of comparison resulting from a non-cash gain from the revaluation of dollar-denominated debt recorded in the same period of the previous year.