Condestable's profits and production up

Peruvian copper miner Condestable posted a net profit of 3.35mn soles (currently US$960,000) in the third quarter of 2003, turning around a loss of 115,000 soles in same-quarter last year, the company told the country's securities regulator Conasev. Sales for the quarter came in at 15.3mn soles (US$4.4mn), up on 11.0mn in the year-ago period, it said. The improved performance was a result of both higher copper prices and production, the company said. In the third quarter, Condestable completed an US$2.92mn expansion to 2,500t/d and the plant is currently at above capacity at 2,700t/d, it said. Peru's sixth largest copper miner, Condestable operates the Mala mine in Lima department.