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Revenue
 6 Months Ended
Jun. 30, 2023
Revenue  
Revenue

6.Revenue

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Six months ended 30 June

US$ thousand

    

2023

    

2022

Sale of commodities – Copper

 

17,929

 

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Sale of commodities – Silver

 

647

 

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Total

 

18,576

 

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Revenue is derived principally from the sale of commodities, recognised once the control of the goods has transferred from the Group to the customer. Products of the Group may be provisionally priced at the date revenue is recognised. There was no impact on revenue recognised due to changes in the pricing of copper for the sales recognised since the acquisition of CMPL. As at 30 June 2023, the Group had 2,330 payable copper metal tonnes of provisionally priced copper sales subject to final pricing over the next several months. The average provisional price per tonne of these provisionally priced sales subject to final pricing is $8,551. Impact of provisionally priced sales is accounted under IFRS 9 Financial Instruments (IFRS 9). Final settlements are recognised within revenue.