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Atalaya Mining PLC on Thursday reported a swing to a third-quarter profit amid mild revenue growth, as operating and administrative costs were reduced by more than a quarter. The Nicosia-based Europe-focused copper producer said in the third quarter of 2023, it swung to a pretax profit of €10.7 million from a loss of €8.2 million a year prior. Revenue climbed 3.7% to €85.4 million from €82.3 million. Notably, operating costs and mine site administrative expenses contracted by 26% to €62.3 million from €84.5 million. Looking ahead, Atalaya Mining for 2023 anticipates achieving the lower end of a copper production guidance range of 53,000 to 54,000 tonnes, albeit still at least 1.4% higher than 52,269 tonnes in 2022. Atalaya Mining shares were 0.7% lower at 307.00 pence each on Thursday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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