Cupru Min posts 35.8 pct revenue increase in 2017

Georgeta Gheorghe 04/01/2018 | 11:23

Cupru Min has posted a 35.8 pct revenue increase in 2017, based on preliminary data on the financial and production indicators. The company also recorded a 55 percent equity increase and an operating revenue increased by 34 percent.

In 2017, the volume of stripping made in the Rosia Poieni quarry recorded a 137 increase, which leads to a mining mass of 1,725,000 tons. Yields at the stripping investment  were even higher, accounting for 146.7 percent of the volume of 2016.

This led to a sharp growth in production in 2018.Out of the 38,300 tons of copper concentrate there were obtained 8010 t of pure copper compared to 7,800 in 2016 at a volume of 37,846 t of concentrate. It is for the first time in the history of the company when the share of 8000 tons of copper is exceeded.

According to a statement by the company, a decisive moment for the future development of the company was the successful organisation of the international tender for the sale of copper concentrate, under conditions of transparency and world-recognized standards. The procedure offered the company a two-year advantageous contract that generates over USD 10 million in revenue on top of the value of the previous contract and a commercial relationship with one of the world’s giants of copper. In 2017 the company also invested in the first stage of the technological process – scraping, ore extraction and transportation and will launch this year the second phase, the upgrading of the Flotation Section of the Plant.

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