Sotkamo Silver, a junior mining company based in Sweden, reported improved profitability in its silver mining operations compared to the previous year. Despite experiencing an operating loss of SEK 1 million on a turnover of SEK 85 million in the first quarter of the year, the company saw an increase in silver production and maintained its production guidance for the year.
The increase in profitability was attributed to higher silver production volumes, a higher average silver content, and the favorable development of the silver price. However, sales of zinc and lead decreased due to lower prices and concentrations. The company’s EBITDA also increased to 17 million kronor from 6 million kronor in the comparison period.
Sotkamo Silver is committed to improving efficiency and profitability further by closely monitoring external factors such as metal prices and exchange rates. The company is focused on achieving its production targets and maintaining a high level of profitability in the years to come.