Skip to Content
Global News Select

Canada's Copper Mountain Mining: Weaker U.S. Dollar Hurt Revenue — Currency Comment

By Paulo Trevisani


A weakening U.S. dollar hurt Copper Mountain Mining Corporation's second-quarter results, the company said Monday.

The Vancouver, Canada-based mining company reported a non-cash unrealized foreign exchange loss of 417,000 Canadian dollars ($319,000), compared to a gain of C$14.5 million Canadian dollars in the second quarter of 2020, "primarily related to the company's debt that is denominated in U.S. dollars," Copper Mountain said in a statement.

The company reported C$142.1 million in second-quarter revenue, up from C$91.1 million a year earlier.

"The increase in revenue is primarily due to higher metal prices and metal sales which were somewhat offset by lower United States to Canadian dollar foreign exchange rates," the company said.

Copper Mountain also reported a C$1.4 million revenue loss due to foreign currency translation adjustment, compared to a C$4.2 million gain a year earlier.

The Canadian dollar traded at C$1.2516 per dollar on March 31 and strengthened to C$1.2287 per dollar on June 30, according to FactSet.


Write to Paulo Trevisani at


(END) Dow Jones Newswires

July 26, 2021 13:56 ET (17:56 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.