MEXICO CITY, Oct 28 (Reuters) - Mining and

transportation conglomerate Grupo Mexico reported

third-quarter net profit rose more than 50%, boosted by higher

sales volumes of molybdenum, silver and zinc even as copper

production fell.

Net profit for the group, a leading copper producer, came in

at $1.29 billion from revenues that jumped 11% to $4.59 billion,

according to a filing on Tuesday, the latter above a $4.41

billion estimate of analysts polled by LSEG.

Earnings before interest, taxes, depreciation, and

amortization for the three months through end-September rose 15%

to $2.51 billion.

Grupo Mexico, controlled by billionaire German Larrea, ranks

among the world's largest copper producers by volume.

It maintained its annual copper forecast of 1.08 million

metric tons, as third-quarter copper production slipped 2.6% to

798,394 tons due to weaker output in Mexico and Peru and a shift

toward molybdenum, zinc and silver.

The mining division posted third-quarter sales of $10.33

billion, up 9.6% from a year earlier on higher molybdenum,

silver and zinc volumes and stronger metal prices.

Although copper sales fell 4.3% from a year earlier,

sales of molybdenum - a metal used to strengthen steel and speed

petroleum refining - grew 7.9%, along with sales of silver and

zinc which grew 19.3% and 7.3%.

The copper producer is looking to decide on investments

for projects in the United States within the next three to five

years.

"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 October, Citigroup ( C/PN )

rejected Grupo Mexico's bid

for its retail unit in the country, known as Banamex,

opting instead to push forward with a previously agreed-upon

deal.

Grupo Mexico surprised the market when it made the

unsolicited $9.3 billion offer for Banamex more than two years

after it had backed away from negotiations.

Analysts had speculated that Grupo Mexico could engage

in a back-and-forth for Banamex. However, the company said it

would

not enter a bidding war

.

In 2023, the company bowed out of the race for Banamex

after talks struggled over tensions with the government of

then-President Andres Manuel Lopez Obrador, leading Citi to opt

to list the unit.