2023-05-01 13:00:42
BY DR. PHD. JAVIER FLORES AROCUTIPA
Not only has there been a decrease in income tax but also in profits. As mining companies know, for example, last year in the first quarter of 2022 mining profits reached 1,366 million dollars, however, in the first quarter of this year it is only 658 million dollars.
Here’s a decline of $707 million which is regarding a 51.8% decline, pretty strong.
There are companies, for example, that have achieved a significant decrease due to price factors.
For example, in the case of Minas Buenaventura, last year it achieved 604 million dollars in the first quarter, now it is only 64 million dollars or the case of MINSUR, which last year achieved 206 million and now only gets 61 million soles.
There are decreases in the case of Minas Buenaventura of 540 million dollars in profits or in the case of MINSUR of 144 million dollars.
The truth is that there are mining companies that have seen their profits decrease by 94.2% and others by 70% and others by 73.7%. In reality, mining companies this year 2023 do not have a good start. We will see what happens in the coming quarters.
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