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The Volcan mining company reported net income of $ 17.9 million in the second quarter of 2018, an increase of 14.7% over the same period of 2017, said Credicorp Capital today. hui.
The financial company noted that the positive effect of higher prices zinc (+ 20.7% yoy), lead (+ 12.2% yoy) and copper (22.0% in GA) were partially subtracted by negative net adjustments and a decline in production; and again, no third-party concentrate was purchased.
"The Ebitda of $ 81.6 million (+ 10.9% YoY) coincided with our expectations with a margin of 38.8% (we were expecting 38.9%) as we were anticipating Non-recurring costs related to the suspension of Animon and Islay "[Credicorp]
also indicated that the lower production cost (efficiency of Chungar and Alpamarca), the lack of concentrates third and lower ore processed by Chungar contributed to a decrease in the COGS indicator.
Consolidated unit cost was reduced by 1.6 percent year on year to $ 47.8 per metric tonne as expected.
"Despite lower production, overall costs remain low.The EBITDA margin (Earnings before interest, taxes, depreciation and amortization) continues to record solid performance," said Credicorp.
] More in Andina
?? Quellaveco: This is what you need to know about the copper megaproject that started today https://t.co/PYQDOixjn1
– Agencia Andina ( @Agencia_Andina) July 26, 2018
(END) MDV
] Published on: 26/07/2018
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