Yunnan Copper Profit Falls 31.27% in First Half, with Copper Ore Output down

SHANGHAI, Aug. 26 (SMM) - Yunnan Copper Co.’s net profit belonging to its listed shareholders was 10.72 million yuan in the first half of this year, a drop of 31.27% year-on-year, SMM reports.

The company’s profit posted a sharp decline due mainly to falling prices for refined copper and sulfuric acid, financing strategy adjustment, yuan’s devaluation and increasing financial cost.

Its mines produced 24,985 tonnes of copper in H1 2016, down 8.66% year-on-year, completing 46.92% of annual target. Refined copper production was 277,809 tonnes to complete 51.45% of annual.

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