atalaya mining plc on wednesday reported a profit drop for the second quarter and raised cost guidance for the full year here is what the owner of the riotinto project in spain had to say copper production was 13386 tonnes in q2 2022 q2 2021 14353 tonnes and 24847 tonnes in h1 2022 h1 2021 28232 tonnes lower production was due to lower grades pit sequencing and lower throughput q1 2022 plant stoppage partially offset by higher recoveries revenues were eur934 million 954 million in q2 2022 q2 2021 eur997 million and eur1797 million in h1 2022 h1 2021 eur1971 million lower revenues were the result of lower concentrate sales volumes and negative provisional pricing adjustments in 2022 compared with positive adjustments in the comparative 2021 periods ebitda was eur147 million in q2 2022 q2 2021 eur520 million and eur414 million in h1 2022 h1 2021 eur994 million the decrease in ebitda was driven by the combination of lower revenues and higher operating costs compared with the periods in 2021 profit after tax was eur118 million in q2 2022 q2 2021 eur323 million or 86 cents basic earnings per share q2 2021 233 cents and eur301 million in h1 2022 h1 2021 eur660 million or 221 cents basic earnings per share q2 2021 481 cents cash costs were 312lb payable copper in q2 2022 q2 2021 226lb and 322lb in h1 2022 h1 2021 215lb with the increase due to lower production volumes and higher costs associated with electricity and other supplies partially offset by the weaker euro as announced on 14 july 2022 atalaya expects 2022 copper production to be 52000  54000 tonnes good operating performance from the plant is expected to continue with full year copper grade and copper recoveries expected to average 040 and 8587 respectively as a result of the elevated prices of electricity and other key consumables the company now expects 2022 cash costs to be 295325lb copper payable and aisc to be 325345lb copper payable these new ranges are based on an assumed electricity market price range of eur150eur175mwh for h2 2022