NEW YORK ( TheStreet) -- Southern Copper ( SCCO), Century Aluminum ( CENX) and Teck Resources ( TCK) Tuesday all reported profits for the second quarter. Developments at these companies indicate a bright outlook for the second half of the year.Southern Copper ( SCCO) revealed that its profit from South American operations soared 93% year over year for the second quarter. The primary driver was rising copper prices. Excluding Mexican mines, profit increased to $271.6 million from $140.6 million in the year-ago period. Total sales for the quarter increased to $738.2 million from $475.2 million a year earlier. The company could reap the full benefit of price increases as it does not have any significant hedging. Copper output dropped 3% to 184.4 million pounds in the quarter as ore grades declined at two of its Peru mines. Southern added that it invested $134.5 million during the quarter in expansion plans as it aims to add 60,000 metric tons to annual copper production. Recently, Grupo Mexico proposed to merge its Tucson copper producer Asarco with Southern Copper, which would form a new publicly traded subsidiary uniting all of Grupo Mexico's mining interests in one company. As per the proposal, both companies would be united under the Grupo Mexico subsidiary Americas Mining Corp., and would be traded on the New York and Lima exchanges. Southern Copper shareholders would receive 1.237 shares of Americas Mining for each share of Southern owned. On Tuesday, Century Aluminum ( CENX) swung to a profit in the second quarter thanks to a $9.3 million gain on forward contracts related to LME price protection options. It recorded net income of $5.1 million, or 5 cents per share, vs. a net loss of $107.1 million, or $1.45 per share, in the same quarter a year ago. However, analysts polled by Reuters on average had expected earnings of 25 cents per share excluding special times. Sales for the quarter came in at $287.9 million, vs. $189.2 million a year earlier. The stock was down 2.1% Tuesday at $10.55 with volumes of 3.27 million. Also Tuesday, Teck Resources announced that its second-quarter net income stood at C$260 million, or 44 Canadian cents per share, vs. C$570 million, or C$1.17 per share, in the same period a year ago. However, the major reason for the difference is due to the fact that the company recorded an aftertax foreign exchange gain of C$413 million in the year-ago quarter. During the quarter, coal sales volume increased 29% year over year to 6.4 million tonnes. For the quarter just ended, total revenue for the company increased 23.6% to C$2.11 billion, which was well above analyst estimates of C$1.96 billion. Operating profit increased 16.5% to C$741 million as compared with the year-ago quarter.
Looking ahead, CEO Don Lindsay commented that the company plans to increase annual coal output from Western Canada mines by 50% in the next four years. The planned capital expenditure of the company stands at C$1.05 billion, including C$675 million for development projects. Recently, Horizonte Minerals agreed to buy an advanced nickel project from Teck through a reverse takeover of its wholly owned subsidiary Teck Cominco Brasil. In return, Teck would be issued shares equal to 50% of Horizonte. However, the deal is subject to shareholder approval and other conditions. The stock was down 3.1% Tuesday at $34.68 on NYSE on of 4.62 million.