Sotkamo Silver, a junior mining company based in Sweden, announced improved profitability in its silver mining operations compared to the previous year. Although the company experienced an operating loss of SEK 1 million in the first quarter on a turnover of SEK 85 million, this was an improvement from the loss of 9.7 million kronor on a turnover of 67.2 million kronor in the same period last year. The company’s EBITDA also increased to 17 million kronor from 6 million kronor in the comparison period.
The increase in profitability was attributed to higher silver production volumes and a higher average silver content, as well as the favorable development of the silver price. However, sales of zinc and lead decreased due to lower prices and concentrations. Despite challenges such as inflation and rising costs, Sotkamo Silver maintained its production guidelines and expects profitability to remain strong in the coming years.
To further improve efficiency and profitability, Sotkamo Silver is focusing on operational efficiency and closely monitoring external factors such as metal prices and exchange rates. The company is committed to achieving its production targets and maintaining a high level of profitability in the years to come.