Katanga Mining sold 234,496mt of copper cathode in 2019—an increase of 88,752mt over the previous year when it sold 145,743mt.
Of its total copper cathod sales, the miner sold 63,864mt of the material in In Q4 2019, a substantial increase over the 48,686mt it sold during the same quarter in 2018, and a slight increase over the 60,530mt it sold during Q3 2019.
The company’s copper revenue in 2019 totaled $1.33bn, up from $868mn in 2018. Around $372mn in copper revenues was achieved during Q4 2019, a significant increase from $271mn revenues during the same quarter in 2018, and above the $320mn achieved in Q3 2019.
Katanga’s net loss increased to $923mn in 2019, from $806mn in 2018. The company’s net loss of $238mn in Q4 2019 was less than its $276mn loss during the prior year period, but higher than a loss of $227mn in Q3 2019.
The copper miner’s 2019 adjusted EBITDA at $68mn was substantially below its $215mn EBITDA in 2018. During Q4 2019, the firm’s EBITDA of $39mn, was down from $53mn during the same quarter in 2018, but considerably higher than its $2.2mn EBITDA in Q3 2019.