April 12, 2018 / 6:29 AM / 5 months ago

London-listed miner CAML reports 35 pct jump in core earnings

LONDON, April 12 (Reuters) - Base metals miner Central Asia Metals (CAML) reported a 35 percent rise in 2017 core earnings as copper prices improved, allowing it to raise its dividend.

The London-listed miner said earnings before interest, taxes, depreciation, and amortization (EBIDTA) in 2017 reached $53.8 million, up from $39.9 million a year ago.

The miner bought the SASA mine in Macedonia in September for $402.5 million, which was funded through a combination of debt and equity.

CAML, which mines mainly copper, zinc and lead, reported that net debt jumped to $138.9 million from no debt and net cash of $40.3 million last year.

CAML proposed a final dividend of 10 pence, taking 2017 total payout to 16.5 cents from 15.5 cents a year ago.

Reporting by Zandi Shabalala; Editing by Susan Fenton

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