Base metals miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) posted second-quarter net income of $159.6 million, compared with $301.3 million in the same quarter a year earlier.

The drop in net income was due to lower revenues tied to weaker copper prices, the company said.

Operating income totaled $408.5 million in the second quarter compared with $687.1 million in the same quarter a year earlier.

The company produced 169.3 million pounds of copper in the second quarter compared with 178.6 million pounds in the same quarter a year earlier.

Cerro Verde is majority controlled by Freeport McMoRan Copper & Gold. (FCX) Compania de Minas Buenaventura SAA (BVN) and a subsidiary of Sumitomo Corp. (8053.TO) also have equity stakes in the company.

-By Robert Kozak, Dow Jones Newswires; 511-221-7050; peru@dowjones.com