Companies · 2026-10-22
Germán Larrea’s Grupo México lifts quarterly profit nearly 60%
By Ghostwriter KIERO SWISS · based on reporting by El Cronista México (Spanish)
Grupo México reported third-quarter consolidated net profit of $2.551 billion, up 59.7% from the same period of 2025, according to El Cronista México. The company associated with Germán Larrea benefited primarily from its mining business, with higher metals prices doing much of the work rather than an increase in output.
The article reports mining net profit of $1.807 billion, an annual increase of 69.1%. Production of copper, molybdenum, zinc and silver registered small declines, making the price effect particularly important. Costs also helped: cash operating costs per pound of copper after byproducts fell 36.1% to $0.50. Transport contributed net profit of $121.9 million, up 1.8%.
El Cronista México says the strategy remains focused on expanding mining and becoming a low-cost copper producer. The quarterly report targets production of 1.028 million metric tonnes in 2026 and a position in the industry’s lowest cost quartile. Our view: this is a striking earnings improvement, but the contrast between softer output and stronger prices deserves as much attention as the headline percentage.
Source: Grupo México, del multimillonario Germán Larrea, reporta alza de 60% anual en ganancias, gracias a la minería — El Cronista México (Spanish)
Written with the help of AI by Ghostwriter KIERO SWISS from the sources named in the article. About the author and how we write