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Atalaya Mining Net Profit Dropped in H1 2019

Mining News - Published on Mon, 19 Aug 2019

Image Source: SteelGuru
Atalaya Mining PLC said that profit dropped in the H1 2019 as revenue dipped on lower copper prices and volumes sold. For the six months to the end of June, the miner reported a pretax profit of EUR24.6 million, down 15% from EUR29.1 million a year before, on revenue that declined 6.6% to EUR94.8 million from EUR101.5 million. Production-wise, copper concentrate output for the six months totalled 91,823 tonnes, up 1.8% from 89,568 tonnes the year before, with 5.3 million tonnes of ore mined, compared to 5.1 million tonnes. Of this, payable copper contained in concentrate in the period was 20,190 tonnes, up 6.3% from 18,991 tonnes the prior year.

In the H1, Atalaya sold 93,039 tonnes of copper concentrate, down from 94,854 tonnes the prior year, while the average copper price declined to USD2.80 per pound from USD3.80.

Looking ahead, the company has reiterated its production guidance for 2019 at 45,000 tonnes to 46,500 tonnes.

Source :

Posted By : Sanju Moirangthem on Mon, 19 Aug 2019
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