MEXICO CITY (Reuters) – Mining and transport conglomerate Grupo Mexico on Friday reported a 17% jump in its net profit during the first quarter of 2025, driven by higher metal prices.
Net profit rose to $1.09 billion, coming in above the average estimate of $816 million from analysts polled by LSEG.
Revenue for the major global copper producer, which also operates sprawling freight railroads in Mexico, rose 10% to total $4.20 billion in the quarter, the company said in a statement.
Prices for copper and silver surged 18% and 38% respectively during the period, helping lift sales in the company’s mining division.
Grupo Mexico, controlled by billionaire German Larrea, is one of the world’s largest copper producers with mines in Peru, the United States, Spain and its home base of Mexico, where it also operates major freight railroads.
(Reporting by Natalia Siniawski; Editing by Kylie Madry)
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