TSX-listed Katanga Mining’s gross loss for the second quarter ended June 30, widened to $94.8-million, from $92.5-million in the quarter before, owing to lower realised copper prices, which were offset by lower processing costs.

The lower processing costs were owing to lower material milled in KTC and lower production levels at the company’s Luili project, as well as a decrease in provisions relating to slow-moving and obsolete stock.

Openpit mining costs, meanwhile, remained consistent at $29.7-million during the quarter, while KTC’s processing costs decreased to $22.7-million.

Refinery costs at Luili decreased to $132.8-million, from $150.2-million, while royalties and transportation costs increased to $124.4-million during the period.

The latter, the company said, increased owing to higher copper revenues and sales tonnes.

Further, cash flows from operating activities before changes in working capital decreased to $26.5-million used in the second quarter, from the $27-million in the first quarter, Katanga said on Wednesday.

This decrease in cash flows during the second quarter was driven principally by a decrease in revenue owing to lower realised copper prices.

However, the period saw changes in working capital cash outflows increasing to a $73.2-million outflow in the second quarter, from an outflow of $27.3-million in the prior quarter, and resulted primarily from a lower decrease in prepaid expense and other current and non-current assets, as well as an increase in inventories and a decrease in accounts payable and accrued liabilities, partially offset by a lower increase in receivables.

Cash outflows from investing activities decreased to $85.3-million during the period, from $170.9-million in the first quarter, and largely reflected the underlying costs of expansionary capital expenditures in the respective periods, Katanga explained.

Cash inflows from financing activities, meanwhile, decreased to $115-million in the second quarter, from $260-million in the first quarter.