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Reuters
5 hours ago
- Business
- Reuters
Mining giant Grupo Mexico reports profit bump as copper costs shrink
MEXICO CITY, July 29 (Reuters) - Mining and transportation conglomerate Grupo Mexico reported net profit rose 10% in the second quarter, helped by lower mining costs and a good performance from its copper byproducts business even as copper production edged down. Net profit for the group, a leading copper producer, came in at $1.23 billion from revenues that fell 4% to $4.24 billion, according to a filing dated late Monday, the latter above a $4.22 billion estimate of analysts polled by LSEG. Earnings before interest, taxes, depreciation, and amortization for the three months through end June rose 1.4% to $2.36 billion. Analysts polled by LSEG had expected EBITDA to land at $2.22 billion. Grupo Mexico, controlled by billionaire German Larrea, ranks among the world's largest copper producers by volume. At midday in Mexico City, its shares were trading up 1.3%. It maintained forecasts for an expected annual output of 1.08 million metric tons of copper, as output of the red metal over the quarter reached 267,325 tons, 1.3% less than the same period a year earlier, due to lower output at its Buenavista mine in Mexico's northern Sonora state. Although copper sales fell 2.9% from a year earlier, sales of molybdenum - a metal used to strengthen steel and speed petroleum refining - along with zinc and silver, rose. The mining division's cash cost for its primary metal, meanwhile, fell 10% from a year earlier, hitting $0.93 per pound of copper versus an average price of $4.55 per pound. Analysts at JPMorgan pointed to "a strategic decision to prioritize zinc and silver production at Buenavista Zinc, impacting copper production," and noted that Grupo Mexico had touted "the lowest cash costs in the copper industry, benefiting from higher byproduct credits." Byproduct credits refer to revenue generated from secondary metals extracted alongside a miner's main product. Santander analysts highlighted the lower metal extraction costs net of byproducts. "Grupo Mexico's balance sheet remains strong," they said. Earlier this month, U.S. President Donald Trump announced a 50% tariff on copper shipments starting August 1 in a bid to promote domestic development. The U.S., however, depends on imports for nearly half of its refined copper needs, and homegrown projects often take years to get off the ground. Chile, Canada and Mexico are currently its main suppliers. "There is an opportunity to invest up to $6.2 billion in the reopening and expansion of projects that align with the new mining and industrial policies of President Trump's administration," Grupo Mexico said in a report. It said it could expand production at its Ray and Silver Bell copper mines as well as reopen its Hayden smelter, all run by U.S. subsidiary Asarco, in Arizona. These proposals follow years of negotiations with local unionized workers. Construction of Grupo Mexico's Tia Maria project in southern Peru is progressing as planned, it added, and should launch in 2027. Sales at Grupo Mexico's transport division slid due largely to foreign exchange effects, the firm said, while its infrastructure arm was hit by the suspension of four platform projects on the part of state oil producer Pemex (
Korea Herald
16-07-2025
- Entertainment
- Korea Herald
Seoul's Zest ranks No. 2 in Asia's 50 Best Bars 2025
Seoul's vibrant cocktail scene earned international recognition once again at the unveiling of Asia's 50 Best Bars 2025 on July 15 in Macao, with four bars from the capital featured in the prestigious list, including two in the top 10. Leading the Seoul contingent was Zest, climbing to the No. 2 spot and earning the title of Best Bar in Korea, sponsored by Tia Maria. The bar is known for its progressive techniques and sustainable practices, Bar Cham, located in Seochon, which has gained popularity for its locally sourced ingredients and seasonal approach, placed No. 6. Alice, an Alice in Wonderland–inspired speakeasy located in Cheongdam-dong, rose an impressive 33 places to land at No. 13, securing the Nikka Highest Climber Award. Rounding out Seoul's representation was Le Chamber, a long-standing favorite known for its hidden entrance and luxurious atmosphere, also in Cheongdam-dong, coming in at No. 50. The awards ceremony was held in Macao, celebrating Asia's most innovative and inspiring bars. Bar Leone in Hong Kong was crowned The Best Bar in Asia for the second year running. The bar, owned by renowned bartender Lorenzo Antinori, offers a focused menu of reimagined classic cocktails while maintaining a strong local identity. Other notable performers included Jigger & Pony in Singapore, which took the No. 3 spot, named The Best Bar in Singapore.
Metro
04-07-2025
- Entertainment
- Metro
The origin story of Baby Guinness reveals you've been doing the shots all wrong
Whether you're at a hen do, birthday party, bottomless brunch or just on a random night out, the Baby Guinness has become a go-to drink for many. And if you've never heard of it, no, it's not actually Guinness. The miniature 'pint' is made with coffee liqueur and topped with a layer of Irish cream – the combination of which looks just like the classic Irish stout. It can be made in several different ways, with a base of either Kahlua, Tia Maria or Patron XO Cafe, but no matter which version you prefer, you might be surprised to learn that you've probably been drinking it wrong. With new research revealing that a third of Brits now enjoy shooters like Baby Guinness on a night out, it's about time we did a deep dive into its origins. Here's everything you need to know… 'It looks cheeky and fun, but Baby Guinness began as a very low-key toast to new life,' claims Jonathan Sitson, the founder of Quick Whip, which helps people craft bar-quality drinks. The tipple is thought to date back to the late 1980s and, of course, like its larger namesake, it comes from Ireland. It's creation is often attributed to a now-closed pub in Dublin, known as The Waxies Dargle, which was located next to the Rotunda Maternity Hospital. It is said to have been served to new parents, particularly fathers, alongside a regular pint of Guinness, as a fun way to toast the arrival of their baby. If this story is true, then that means the name is not only a reference to its lookalike beverage, but also a nod to the little ones it was used to celebrate. More Trending So really, to keep the tradition alive, you shouldn't be cracking out the Baby Guinness whenever you feel like it, but saving it for a special occasion like welcoming a newborn into the world. Ingredients: 25ml coffee liqueur (e.g. Tia Maria or Kahlua) 12.5ml Irish cream (e.g. Baileys) Chilled shot glass Bar spoon (or the back of a teaspoon) Method: Pour the coffee liqueur into a shot glass. Slowly layer the Irish cream on top by pouring it over the back of a spoon. The result should resemble a perfect tiny pint of stout — rich, creamy, and photo-ready. View More » 'The trick is to chill your liqueurs in advance and pour the cream very slowly,' Jonathan adds. 'And a curved bar spoon makes all the difference.' Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: Irish musician and comedian cancels all of his gigs for the year MORE: We tried London's 'incredibly chic' fried chicken – this is how it compares to KFC MORE: Teacher drank alcohol in class and got pupils to do the Macarena, tribunal told Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
The Star
20-06-2025
- Entertainment
- The Star
Celebrating disco drinks
Iconic cocktail classics on the menu in KL rooftop bar Disco classic cocktails can be a rare find on contemporary menus, often overshadowed by more modern or Prohibition-era inspired drinks. However, at @21 Rooftop Bar within the Hyatt Centric City Centre Kuala Lumpur, a selection of disco-era cocktails has taken centre stage. Janelle Carissa, the bar mixologist responsible for the menu, explained her desire to revive these overlooked classics. 'Cocktails like these aren't often found on menus. 'So, I wanted to feature them for our guests. 'Alongside the disco classics, I've also added several of the bar's signature creations,' she said. A retro yet sophisticated vibe exuded from the bar of this new Kuala Lumpur F&B hotspot. The bar's design has masterfully blended rustic charm with an industrial aesthetic in homage to the city's history as a tin-mining hub. Vibe Check. A close-up view of towering Kuala Lumpur skyscrapers provided a striking contrast to the otherwise tranquil and comfortable space, perfect for meaningful engagement and intimate conversations. The Classic Disco Hits section of the cocktail menu highlighted six iconic disco-era creations: the Blue Hawaiian, Paradise, El Diablo, Brandy Alexander, The Godfather, and Midori Sour. The Brandy Alexander, for instance, was similar to a 'spiked milkshake' due to its rich, sweet profile. Mixed with Hennessy VS, crème de cacao and cream, this thick, foamy drink is topped with grated nutmeg for added aromatics. Guests can also enjoy something refreshing like the Midori Sour, a concoction of Midori Melon Liqueur, Belvedere vodka, lemon, lime and soda. As for the bar's signature cocktail menu, aptly named Retro Remixes, it showcased Carissa's innovative approach to mixology. 'I like adding a bit of fun to it and something that would appeal to Gen Z. Brandy Alexander. 'One of them is the Vibe Check which I wanted to be relaxing and fun; imagine a drink that is like enjoying a bubble bath,' she said. This orangey drink, a blend of Tanqueray London Dry Gin, Aperol, orange and lemon, was topped with an Asam Boi Espuma to reflect the bubble bath concept. It also came with a cute rubber duck on the side of the glass. Citrusy and refreshing, this sweet drink offered a delicate aroma of local favourite assam boi. Another highlight, Tropic Like It's Hot, has been playfully named after Snoop Dogg's song Drop It Like It's Hot due to the phonetic similarity. 'It's also a twist on the Blue Hawaiian cocktail to which I've added Sarawak langkau, or distilled rice wine. 'Then, it's topped with pineapple juice and spiced Blue Curaçao,' she said. Disco Beans and Cognac Dreams. Served on a mini float, the potent langkau added a rich flavour to this tropical, rum-based drink. The cocktail was effortlessly enjoyable and its presentation was spot on. For those who prefer a spirit-forward drink, there's the Disco Beans and Cognac Dreams cocktail. Mixed with Tia Maria coffee liqueur, crème de cacao, and coffee-infused Hennessy VS, Carissa described it as 'Espresso Martini's cooler cousin'. This creamy cocktail had strong coffee flavours while the shot of cognac added complex depth. Visitors can also try other signature drinks like the Big Fizz Energy cocktail, a mix of pandan-infused Belvedere vodka, Midori Melon Liqueur and Limonata soda. Tropic like It's Hot. There's also the Nutty Heist which features peanut butter-infused Johnnie Walker Black Label, Lagavulin 16 years and gula melaka. For those who prefer a sober night, there are zero-proof drinks available. The Jack-O-Jack is a delightful combination of jackfruit, banana, milk, pandan, sago and gula melaka, while the Butterfly Hana mixes butterfly pea-infused jasmine green tea, lemon juice, lavender, vanilla and soda. Food options are plentiful to accompany your drinks. Consider ordering the Larb Gai Quesadilla which comes with Thai-marinated chicken, mint yoghurt, sriracha, guacamole and Monterey Jack cheese. Other quesadilla choices include lamb kofta, beef rendang, tiger prawn and mushroom, each served with different condiments. @21 ROOFTOP BAR, Level 21, Hyatt Centric City Centre Kuala Lumpur, Jalan Sultan Ismail, Kuala Lumpur. (Tel: 03-9388 1234) Business hours: 4.30pm to midnight (weekdays), 11am to midnight (weekends). This is the writer's personal observation and is not an endorsement by StarMetro.
Irish Examiner
17-05-2025
- General
- Irish Examiner
Michelle Darmody: How to bake semifreddo — an affogato in cake form
This is an affogato in cake form, a delicious blend of strong, dark espresso paired with the cool, velvety softness of ice cream. In fact, it is technically not ice cream, but very similar, made with a blend of whipped cream, eggs, and sugar. You do not have to make a custard base or churn it as it freezes; you simply combine the beaten eggs, whipped cream, sugar and whatever flavouring you choose. The combination of ingredients keeps it smooth when frozen. The air added while making the dessert also gives it that semi frozen feel which is echoed in its name, which means 'half-cold'. Contrary to the name, the dessert is, in fact, fully frozen. The ability to slice and serve rather than scoop makes it an ideal summer dessert. The base is optional but adds a firm layer that makes it into more of a cake-like structure, but it works equally well without the base. Originally, versions were laced with sweet Italian liqueurs and served at New Year's Eve celebrations. It is still popular in Italy and is now served around the world with all manner of additions from chopped nuts to fruit and, of course, chocolate. Semifreddo recipe by:Michelle Darmody This is an affogato in cake form Servings 10 Preparation Time 15 mins Cooking Time 6 hours 0 mins Total Time 6 hours 15 mins Course Baking Ingredients For the base 100g butter melted 200g chocolate digestive biscuits, crushed For the semifreddo layer 4 eggs, separated 20ml strong espresso coffee 1 tbsp coffee liqueur, like Kahlua or Tia Maria 90g golden caster sugar 300ml cream To decorate 50g dark chocolate 100ml cream, whipped to stiff peaks Method To make the base, stir the finely crushed biscuits with the melted butter and set aside to cool completely. Line a 2lb loaf tin with cling film. Beat the egg whites until stiff peaks form and set aside. Beat the egg yolks with the espresso, liqueur, and sugar in a separate bowl until thick. Whisk the cream until it forms stiff peaks. Fold the cream into the egg yolk mixture. Fold in the egg whites. Line the top with the 'base' and pack it down. Cover this with the edges of the cling film and place into the fridge. It will take about six hours or overnight to freeze. Remove the semifreddo from the tin and gently peel off the clingfilm. Place with the biscuit base side down on a serving dish and top with the whipped cream for some extra decadence. Gently shave the chocolate into curls with a potato peeler and sprinkle on top. Baker's tips Make sure to leave extra clingfilm when lining the tin so you can cross it over the top of the dessert. The clingfilm can leave a wrinkled texture on the surface of the semifreddo. Removing the clingfilm before allowing the dessert to soften will reduce the risk of leaving marks on the surface. Also topping it with some cream and chocolate shavings makes it look and taste more decadent, but it also helps to hide any imperfections. Use eggs that are at room temperature rather than straight from the fridge. Cold eggs will not whisk as well. Overmixing instead of folding in the egg whites and the cream can lead to deflation and can make your semifreddo hard and dense. Keeping as much air as possible will make sure the consistency feels creamy and soft and will give it its signature half-melted, smooth texture. To remove the semifreddo from the tin, tug on the plastic to loosen it then run a butter knife around the inside of the tin, peel back the top of the cling film and invert the dessert onto your serving plate. The semifreddo will keep for up to four weeks in your freezer. Because it is made in a different way to ice cream it does not have as long a storage time. You can slice it straight from the freezer with a knife dipped in boiling water or you can allow it to thaw slightly before serving. It is nice to put your serving plate into the freezer before turning the dessert out onto it. This recipe uses raw eggs, so may not be suitable for all diners. It is best made with very fresh eggs. There is uncooked alcohol in the dessert so it is not suitable for children. Three delicious variations Orange semifreddo In place of the coffee liqueur and espresso, use the zest of two oranges and either 20ml of orange juice or an orange liqueur like Grand Marnier. Cherry black forest gateau In place of the espresso and coffee, add 30ml of a cherry liqueur such as Kirsch. Top the whipped cream layer with some maraschino cherries before adding the chocolate shavings. Marsala and dried fruit In place of the espresso and coffee, use 40ml of marsala. It is also nice to add a mixture of dried fruit. I like to have a colourful combination of apricots, prunes, golden raisins and mixed peel, all chopped. Add 150g of the fruit combination and soak them in the marsala before adding the swollen fruit and the remaining marsala to the mixture. Read More Michelle Darmody: How to bake profiteroles and the mistakes to avoid
