Atico Mining Corporation reported income from mining operations of $2.1 million and a net loss of $0.2 million for the second quarter of 2026, alongside production of 2.1 million pounds of copper and 1,465 ounces of gold in concentrate at its El Roble mine in Colombia.

Revenue for the quarter decreased 18% to $17.4 million from $21.1 million in the second quarter of 2025, while net income swung from $2.7 million in the prior-year period. Cash costs per payable pound of copper produced increased to $3.43 compared with $1.73 in Q2-2025 In Q2-2025, cash cost per payable pound of copper produced was $1.73; in Q2-2026, cash cost increased to $3.43 per payable pound of copper.

The company attributed the higher costs to the appreciation of the Colombian peso against the U.S. dollar, alongside increased stope preparation and ground support expenses as mining operations transition to the upper zones of the deposit. Lower gold head grades during the quarter also reduced by-product credits, contributing to a 39% decrease in gold production compared to Q2-2025.

“During the second quarter, we experienced a temporary decrease in gold output alongside a significant appreciation of the Colombian Peso. These simultaneous developments impacted our operational costs and net earnings for the period. While development at the mine continues to advance quarter-over-quarter, we faced operational bottlenecks that temporarily delayed our primary objectives during the quarter. We expect to resolve these challenges and deliver improvements over the first half of the year in the following quarters.”

— Fernando E. Ganoza, CEO and Director

As of June 30, 2026, Atico reduced its working capital deficit to $12.1 million from $20.2 million at the end of December 2025. Long-term loans payable stood at $6.9 million, alongside a $2.7 million long-term arbitration award payable due beyond one year.

Atico maintains a two-project portfolio comprising the El Roble mine in Colombia and the La Plata project in Ecuador, with management targeting an updated reserve report for El Roble in the second half of 2026.

Within the surrounding district, Andina Copper Corporation intersected 504 metres grading 0.48% copper at its Cobrasco project in August 2026.

Read the full announcement: Atico Reports Consolidated Financial Results for the Second Quarter of 2026