Pucobre H1 profit surges 79% to $100.7m on copper rally

Chilean miner's bottom line benefits from record metal prices, even as EBITDA contracted, highlighting margin pressure across the sector.

By Handelsavisen Newsroom · Automated 2026-07-30 07:58 UTC · 1 min read

Chilean copper producer Pucobre reported a 79% increase in first-half net profit to US$100.7 million, driven by record-high copper prices that have sustained a bullish trajectory in industrial metals markets.

The result underscores the continued profitability tailwind for miners operating in the current commodity cycle, even as operational metrics show signs of strain.

The results arrive as copper futures maintain their upward momentum, having risen more than 5% since the beginning of July.

Despite the surge in net income, the company's EBITDA fell during the period, signaling that underlying operational cash generation did not keep pace with the headline profit growth.

This divergence suggests that the profit jump was likely supported by non-operational factors or accounting adjustments rather than pure volume or margin expansion, a nuance traders should weigh against the broader sector rally.

The results arrive as copper futures maintain their upward momentum, having risen more than 5% since the beginning of July.

The metal's strength has been a key driver for mining equities, with peers such as Grupo México also reporting sharp profitability accelerations in the second quarter.