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Highlights
- FY24 saw a 43.5% YoY increase in Imperial Metals’ revenue, reaching CAD 494.4 million, driven largely by the Mount Polley mine
- Income from mine operations turned positive in FY 2024, rising to CAD 161.2 million from a loss of CAD 13.5 million in FY 2023
- Imperial Metals achieved a significant turnaround in income before taxes, reaching CAD 111.6 million in FY24, compared to a loss of CAD 62.2 million in FY23
- The company posted a net income of CAD 106.3 million in FY24, reversing a net loss of CAD 36.7 million in the prior year
- Red Chris is set to increase copper and gold production in FY25, with a 50% boost in gold output compared to FY 2024 levels
Imperial Metals Corporation (TSX:III) is a Vancouver-based mining company. The company’s principal properties in British Columbia include the wholly owned Mount Polley and Huckleberry copper mines, a 30% interest in the Red Chris mine.
In the financial year 2024 (FY24), the company experienced a remarkable 43.5% YoY increase in total revenue, reaching CAD 494.4 million compared to CAD 344.5 million in FY23. This growth was largely driven by the Mount Polley mine, which generated CAD 301.5 million in revenue from copper concentrate, up from CAD 233.3 million in the prior year, reflecting a significant CAD 68.2 million increase.
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