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The paralysis of operations in the mines Animón and Islay Unity Chungar is the main explanation for the reduction of the production of the company Volcan mining during the second quarter of 2018.
In its most recent report, the company indicated that it had decided to suspend the mining operations twice Animón and Islay Unity Chungar to ensure compliance with its safety standards in both underground mines.
These stops totaled almost four weeks. But, later, both mines resumed normal operations.
In this sense, the mining company explains that the suspension of activities in these mines is the main explanation for the reduction in the tonnage of extraction and consolidated treatment in the second quarter. 2018, further declines were observed in Yauli for the reformulation of mining plans and Alpamarca .
In addition, he added that the production of zinc, lead, silver and copper decreased 13, 8%; 13.2%; 4.9%; and 8.5%; respectively, compared to the second quarter of 2017.
NET VOLCANO PROFITS
Credicorp Capital reported that the mining company Volcano one of the world's leading producers of zinc lead and silver, posted net profits of $ 17.9 million in the second quarter of 2018, up 14.7% from the same period of 2017. [19659008] "Profits reached US $ 17.9 million (14.7%) and were quite close to our expectations, differing only in actual tax expense of 49.6% (49% in Q2 2017), higher than 43.1% expected, "said the financial company, According to the Andina agency.
He pointed out that the positive effect of higher prices of zinc (20.7%), lead ( 12.2%) and copper (22%) were partially subtracted by net negative adjustments and a decrease in and again no third-party concentrate was purchased.
Likewise, Credicorp pointed out that Ebitda of 81.6 million US dollars (10.9%) coincided with expectations with a margin of 38.8% (we were expecting 38.9%), as they anticipated non-recurring costs related to the suspension of Animon and Islay .
He explained that the lower cost of production (by the efficiencies of Chungar and Alpamarca ), the absence of third-party concentrates and processed ore Chungar contributed to a decrease in the indicator COGS . Consolidated unit cost was reduced by 1.6% to US $ 47.8 per metric ton as expected
"Despite lower production, overall costs remain low." Margins Ebitda (Profit before interest, taxes, depreciation and amortization) continues to record a solid performance, " Credicorp declared .
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