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In the first quarter of 2018, Minera Escondida made a profit of 483 million US dollars. During the same period the previous year, it recorded a net loss of $ 184 million following the strike that affected the company for 44 days in 2017.
The mining company recorded income taxes and specific mining taxes for one year. total of $ 211 million.
On this occasion, the comparison between the first quarter of this year and 2017 is strongly distorted by the 44-day strike of last year, an extraordinary event that had a negative impact on production and caused operating losses of US $ 231 million. 19659003] Another important factor to consider is that the average price of copper for the first three months of the year was US $ 3.16 / lb, which compares favorably with US $ 2.65 / lb. the same period last year. this represents an increase of 19%. This price increase has a positive impact on financial results.
In addition, it should be noted that during this period, thanks to the investment plans, the company operated three mills compared to the two active mills.
Production
Minera Escondida's copper production was 322,721 tonnes, representing 253,296 tonnes of copper contained in concentrates and 69,425 tonnes of copper cathodes.
Costs and Gains / Loss of Operations
Costs (excluding net financial costs) amounted to US $ 1,271 million, an increase of 35% over US $ 941 million for the same period of 2017.
The operations of the operation generated a profit of 731 million dollars. During the same period of the previous year, a loss of $ 231 million was recorded due to the 44-day strike
Revenue from sales
Revenue from sales was 2 $ 001 million in March. During the same period of the previous year, revenues reached US $ 695 million, due to lower prices and mainly due to lower production due to the aforementioned strike
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