Peru miner pays US$4 million dividend

Southern Peru Copper, a subsidiary of Asarco (NYSE), has paid a US$4-million dividend for the second quarter.

Southern Peru, jointly owned by Asarco (52.3%), the Marmon Group (20.7%), Phelps Dodge Overseas Capital (16.3%) and Newmont Mining (NYSE), owns and operates two mines and a smelter in Peru. In 1991, the company produced 300,200 tons of copper, 3.1 million oz. silver and 6.7 million lb. of molybdenum. In May, Southern Peru said it would consider paying dividends on a quarterly basis.