Canada-based Atico Mining produced 5.5mn lbs of copper in September quarter (Q3) from the year prior. Lower processed tonne in Q3 resulted in a 3pc dip in copper production.
The company announced their Q3 results on November 19 reporting income from mining operations at $5mn and net income at $1.9mn for the September quarter. The company anticipates a stronger fourth quarter on the back of selling two concentrate shipments and strong metal prices.
In Q3, the company sold one concentrate shipment yet reported strong results, said Fernando Gonoza, CEO and Director of Atico Mining. Q4 is likely to be more robust and would reflect a very strong second half of 2020.
Sales for Q3 increased by 47pc to $14.1mn compared to Q3 2019. Copper contributed approximately 83pc to the total sales.
Atico Mining operates El Roble in Colombia, a high grade copper and gold mine with a plant processing capacity of 1,000mt a day. The company’s other mine, La Plata is a gold rich mine but has tiny amounts of zinc, copper and lead too.