Iron ore producer Shougang Hierro Peru (SHP) saw its output increase for the ninth consecutive month in June, Kallanish learns from monthly data issued by Peru’s mines and energy ministry.

Peru's sole iron ore producer’s cumulative output in the first half of 2017 amounted to 5.83 million tonnes, up by 9.5% compared to the same period of last year. During June SHP’s production was 805,566 tonnes, or 11.59% more than in the same month of 2016. 

SHP also saw its net profit and revenue increase in the second quarter, mainly supported by the increase in iron ore prices, as reported.

SHP’s net revenues reached PEN 330.6 million in Q2, up 5.3% year-on-year. The company posted a net profit of PEN 85.3m ($26.2m) over the same period, up by 3.6% y-o-y. Cumulative net profit increased by 93.6% y-o-y in H1 to PEN 282.8m.

SHP is a subsidiary of major Chinese steelmaker Shougang Group. The Peruvian company extracts, processes and sells iron ore from its deposits located in the Marcona district of the province of Nasca, in Peru’s Ica region.