Minsur S.A. Announces Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Production Guidance for the Year 2018
For the nine months, the company reported net revenue of $514.6 million compared to $503.6 million a year ago. Operating income was $139.3 million compared to $145.8 million a year ago. Profit before income tax was $141.5 million compared to $131 million a year ago. Net income was $94.1 million compared to $84.3 million a year ago. Adjusted net income was $36.8 million compared to $54.8 million a year ago.
For the quarter, the company reported tin production 6,515 tons compared to 6,620 tons a year ago. Gold production was 24,405 ounces compared to 23,123 ounces a year ago. Ferro Niobium and Ferro Tantalum productions was 1,062 tons compared to 818 tons a year ago.
For the nine months, the company reported tin production 18,333 tons compared to 18,284 tons a year ago. Gold production was 74,048 ounces compared to 75,427 ounces a year ago. Ferro Niobium and Ferro Tantalum productions was 2,942 tons compared to 2,021 tons a year ago.
These results are above the original forecast and allowed to increase full year 2018 production guidance to the following: tin (24,000- 25,500 tons), gold (95,000 -105,000 ounces), and ferroalloys (3,500-4,000 tons).