Minmetals released its interim financial results yesterday, both the company's commodity prices and sales fell in the first half of this year, and the revenue falling 14% to $1.1914 billion from a year earlier. A net post-tax loss of $182.7 million, an increase of 150% over the same period last year, a net post-tax loss of $73 million over the same period last year; pre-tax depreciation profit, a decrease of 41% to $383.6 million over the same period last year; and a net debt increase of $69.6 million due to the impact of the epidemic on the operating cash flow of the company.
The cooper stock of Las Bambas mines was about 0.038 million tons by the June 6th, the shipment of stock will continue to 2021 at the current speed. The annual production guidelines of the Las Bambas mines have been withdraw. The output guidance of electrolytic copper of kinsevere mines remains unchanged at 68-75000 tons, and the zinc production in dugald river and rosebery mines is expected to be between 22.5-245000 tons. Minmetals resources are optimistic about the second half of the year as commodity prices have rebounded strongly in recent months.
The cooper production of Las Bambas mines declined 29% to 1.31698 million tons in the first half year. The revenue declined 17% to $751.2 million year-on-year due to the commodity price and metal sales fell. The output guidance of electrolytic copper of Kinsevere mines increase 26% to 36.505 tons year-on-year due to the increase of mineral concentration and ore grade. As the production and sales volumes increase, in the first half the year, the revenue of the mines increase 12% to 198.5 million tons year-on-year. Zinc production increase 6% to 79,177 tons in the first half of the Dugald River, but the revenue fell 26% to $120.9 million from a year earlier, affected by falling metal prices. Zinc production fell 14% to 33894 tons in the first half of the Rosebery year, and metal production was affected by the decline in mineral dressing and ore grade. Operating income fell 16% to $119.4 million from a year earlier, mainly prices and sales. Partly offset by increased by by-product income from gold and silver.