Capstone Copper Reports Strong Q1 Earnings Driven by Record Production
Capstone Copper achieved an adjusted EBITDA of USD329.1 million for Q1, a 83% increase from the previous year, attributed to record production and rising metal prices. This marks a sixth consecutive quarter of record EBITDA for the company.
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Capstone Copper produced 47,960 tonnes of copper in the first quarter, up from 40,875 tonnes the previous year, with a cash cost of USD2.66 per pound. Adjusted net income for shareholders reached USD94.8 million or 12 cents per share, a significant increase from USD8.1 million in the prior year.
Operating cash flow increased to USD217.9 million, compared to USD166.1 million year-on-year. The growth in earnings reflects strong performance amidst higher copper, gold, and silver prices, which may impact future investment and operational strategies in the mining sector.
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