December 14 (SeeNews) - Hamburg-based copper producer Aurubis said its Bulgarian plant generated a profit of 176.5 million euro ($208.7 million) for the financial year 2016/2017 ending on September 30.
"The previous [fiscal] year had been affected by the major shutdown and the associated optimization of capacity at the Pirdop site, which had a positive impact in the current fiscal year. In addition, we were able to achieve significantly higher refining charges for copper scrap in a good supply environment. We were also able to benefit from an advantageous input mix as well as good availability for copper concentrates," the company said in its annual financial report.
In 2016/2017, the Bulgarian plant's throughput of 1.3 million tonnes was significantly above the previous year’s figure of 1.0 million tonnes.
In April and May of 2016, Aurubis successfully completed a 44 million euro 54-day large-scale maintenance works at its site in Pirdop.
Aurubis Bulgaria imports 70% of its copper concentrate and exports 70% of its output.
Aurubis Bulgaria is the country's largest exporter. It employs more than 830 people.
($ = 0.8455 euro)