SHANGHAI, Jul. 21 (SMM) - Yunnan Copper Co. announced July 14 its net profit in the second quarter of 2016 increased 1,200% to 1.25 million yuan due to improving TCs of copper concentrate and surge in precious metals prices, chinastock.com reports.

TCs of copper concentrate rose from Q1’s $82.5 per tonne to $102.5 per tonne in Q2, a rise of 24.24%. The company, mainly uses imported ore, also benefited from yuan’s devaluation from early April.

It produced 100,000 tonnes of gold each year, and enjoys ultra-low cost.Besides, copper prices stopped falling in Q2, also helping increase its profit. 

Its profit in the first half of the year, however, was down to 10-13 million yuan, because of falling copper and copper sulfate prices as well as growing interest rate expenditure.

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