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Antalya Mining profit falls as lower copper prices bite

By BFN News | 10:00 AM | Tuesday 07 April, 2020


Antalya Mining reported a fall in profit as revenue was hurt by falling copper prices. In 2019, pre-tax profit fell to €37m from €41m on-year as revenue slipped to €187m from €189m. Copper production rose 6.7% to 44,950 tonnes from 42,114 tonnes on-year, reflecting the positive impact of the expansion project at Proyecto Riotinto, which was completed and commissioned on budget at the end of the last year. Copper prices fell 7.5% to US$2.73 per pound on-year. Looking ahead to 2020, the company guided production within in a range of 55,000 to 58,000 tonnes of copper, targeting an improvement on 2019 production. Cash costs and all in sustaining costs (AISC) was expected to range from US$1.95/lb to US$2.05/lb and from US$2.20/lb to US$2.30/lb, respectively. At 10:00am: (LON:ATYM) Atalaya Mining PLC share price was +4.5p at 102.5p Story provided by StockMarketWire.com

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