Copper Mine Income Boosts Asarco Profits

New York-based Asarco Inc. Tuesday reported much higher second-quarter earnings, due in part to income from a recently acquired copper company.

The mining company that owns half of two idled silver mines in Idaho’s Silver Valley reported net income of $56.4 million, compared with a gain of $5.4 million in the second quarter of 1994.

The profits translate into $1.34 per share, compared with 13 cents a share for April, May and June of last year.

Improved copper, lead, zinc and silver prices helped Asarco’s earnings. Asarco’s stock closed Tuesday down 88 cents at $31.88.