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Nyrstar beats H1 profit estimates on higher zinc prices, mining resurgence

Published 2017-08-02, 01:41 a/m
© Reuters.  Nyrstar beats H1 profit estimates on higher zinc prices, mining resurgence
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BRUSSELS, Aug 2 (Reuters) - Zinc producer Nyrstar NYR.BR on Wednesday reported a core profit above estimates for the first half of 2017, aided by higher zinc prices and a resurgence in profitability at its remaining mining operations.

Nyrstar has sold all of its mines in South America, but it has invested in its North American raw material assets and will restart operations at a Canadian site in August 2017.

The company said zinc prices CMZN3 in the first six months of the year were about 50 percent higher than in the same period last year.

For the group as a whole, core profit rose 23 percent in the first half of 2017 to 111 million euros ($131.27 million), more than the 107 million euros expected in a Reuters poll.

The company said it remained cautious about a falling U.S. dollar in the second half of the year.

($1 = 0.8456 euros)

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