LONDON (Reuters) - London-listed miner Kazakhmys (>> Kazakhmys plc) posted a more than 35 percent drop in first-half core profit on Thursday, as higher copper output failed to offset the impact of falling prices and rising costs.
Kazakhmys, the world's 10th-largest copper miner, reported group core profit, or earnings before interest, tax, depreciation and amortisation (EBITDA), at $438 million (281 million pounds) from $679 million.
Including the miner's share of Kazakh rival ENRC (>> Eurasian Natural Resources Corporation), EBITDA fell to $714 million.
ENRC is in the final stages of a buyout that will take the group private. Kazakhmys said it would book an impairment of $823 million related to the sale of its share in the miner.
(Reporting by Clara Ferreira-Marques; editing by Kate Holton)