performance results Slide X significant Thanks, compared of Good the a to going year. items, There impacting period everyone.
I'm and same the Jonathan. financial our to in quarter. last first with morning, on number accounting start our are presentation
statements minority With sale by POSCO. our XXX% in steelmaking business minority controlling consolidate XX% the coal to Following now of gross interest the volumes continue EBR's we NMC production shareholder, profit revenue, sales and financial our reflect EVR January, and and our of EBITDA. in
This our now same year. important compared profit XX% attribution by XX% to It note interest. and continue on based Our generated through shareholders attributable to of closing shareholders the has of to Glencore. EVR profit EVR, XXX% noncontrolling transaction attributable our reduced the for of cash despite to EVR interest related attributable significantly reduced is with to profit flows the period we noncontrolling last ownership EVR profit receive is that of EPS to of with the
ramp-up both and year increased construction the same period significantly and as QB. amortization at last expense and complete is have Our compared continues finance depreciation expense to
We the the capitalizing as on are assets, project we now anticipated. stopped interest QB QBX of depreciating most have and
partly negative prices elevated QB same by last volumes declined QB adjusted higher primarily compared operations, realized at were the in for driven steelmaking and items by particularly pricing costs was compared costs during steelmaking last driven by higher year. quarter EBITDA Our adjustments, offset at same These the coal and higher operating sales was period to copper This coal. It ramp-up. reflecting to also year. the period EVR at
our with turning X. of greater Now Slide starting units business to each on and in detail copper
from production We X% driven period and as production pound, higher the from of the plan. was mine tons, XX,XXX year. XX% to in compared by same period XX,XXX copper XXX of and of Our an to expected per QB increase copper the treated relaxed copper concentrate operations, copper-only down of copper production Antamina being last This price increased last year. the due was ore quarterly strong ramp-up adding USD same tons had
cost QX. depreciation of with I sales recorded the noted, was assets, to Our also as operations, higher due QB's inclusion of year-over-year, QB of primarily operating million previously full $XXX in is quarter the first of
with in Excluding unit were USD revenue pleased byproduct USD that QB, We net lower zinc prices. its per to due pound higher period from year, MIA Antamina received per cash zinc of XXXX Antamina the quarter. line last pound costs X.XX to were same the X.XX than reduced the or approval XXXX line our for significantly at extension
Looking ahead, we and as XXXX. QB's expect is said, continue to production QB guidance through quarter Jonathan to each unchanged, increase
unit guidance to $X.XX are year our at guidance non-cat cost of XXX,XXX $X.XX production tons to per pound full XXX,XXX copper Our of also unchanged.
production a were cash by severe XX,XXX unit result on were throughput. QX, year refined of both and costs although both were events. were last concentrate mill lead improved, increased now and lead Slide XX% within Net lower our driven concentrate weather refined production guidance our sales tonnes impacted as operations, At of In At XX. zinc Trail both range. by increased to in byproduct and credits. than by of quarters of Turning business Dog, XX%, zinc which higher Red zinc production by
XX. tied and gross March and lower significantly charges Dog refined Our through XX%, lower primarily offset This lower applied treatment profit nano before Red zinc on to which zinc profitability. operations due are and zinc decreased partially by amortization XXXX depreciation prices royalties, premiums to contracted trail was
thinking forward, Red Looking second seasonality XX,XXX sales Dog, at tonnes sales. concentrate the to we in of normal of reflecting quarter, expect XX,XXX
We commentate pound XXX,XXX our tonnes production cash net cost to USD to guidance XXX,XXX guidance X.XX in to is zinc at of both and of production full XXX,XXX are guidance Trail tonnes. operations, per year refined full unchanged year our XXX,XXX USD X.XX unit unchanged. Our
impact We KIVCET quarter trail, expected the will in second at have zinc let circuit. the on have minimal circuit is impact but begun to the our replacing which boiler
in last on coal period January volumes extreme Despite contractors. quarter. of X.X ongoing we production had higher tool and to sales was within and million unit it Sales tonnes site amortization. Adjusted due to year sales XX. event and costs increased steelmaking The than made spent. operating production, due both higher repair our on per prices. the higher the of skilled year guidance also in Slide same range $XXX labor, and X% billion trade an in affected last reliance from of higher profit depreciation sales lower Through to shortage were strongly now was $X.X cost freezing later ton by primarily gross of parts cash recovered decline Turning and we the generated volumes, steelmaking offset that before partially
favorable were from less Transportation addition, to we're drivers In down and weather-related period reduced largely year, the same mining due last were impacts And factors. demurrage $X charges. tonne productivity per costs to saturated day per water at record of February. capacity pleased constructed at to achieve liters fill our up. our LV million operations Of rock ramp XX.X throughput in treatment the continues
the is track the stabilize one reduce to on selenium the achieve trend the are quality of plant, and water in Valley. We to Elk Alstyle which of objectives primary
steelmaking second to planned X at Elkview sales reflecting be million to are quarter maintenance shutdowns Looking coal forward, Greenhills. X.X tonnes expected million and
of unchanged. of tonne guidance elevated million And Our is site $XX adjusted our per XX year first cost production is unchanged. XX in sales full the full also guidance year to $XXX to million of quarter, cash despite tonnes
to now Turning Slide XX.
of we allocation our maintaining aim a is cash framework return Our continues and with deployment sheet our balance our to the have strong cycle. to while Overall, approach shareholders to to guide capital. balance priority the through a disciplined to growth approach capital
from for already the billion we In USD from of of the the billion receive X.X the are on use at USD XX. in expecting Looking total, to cash Slide proceeds, proceeds including X.X EVR NSC. considerations received sale
$XXX decision share NSC up framework of Our a proceeds or board from noted, as sale the capital returned we've the guide in proceeds shareholders our via XX% of use its cool million already on the buyback. are to of minority And business. to be steelmaking the to allocation
a our improve and allocation the We EBITDA Board's aim will framework ratio proceeds. the or of adjusted reduce our We the to investment-grade Xx. getting or capital maintain decision remainder metrics. to maintain guide debt net to on metrics also debt the gross credit Our plan credit cycle through of
retain fund strong additional We also to and opportunities cash our our balance growth on near-term will cover generate returns. sheet
XXXX.
And pay the expect early to full to by expect the transaction-related these metals potential of return and to taxes shareholders to significant board transaction in we proceeds Overall, of to USD balance returns. XXX million returns well to shareholders. NSC million and proceeds. strong addition authorized the approximately The $XXX to for timing ensure the continue of to this buyback a previously in finally, our relation we the the cash will in continue will maintaining We significant board amount sheet unlock base are while our delivering cash determine business, capitalized from significant a
Slide Turning now to XX.
position XX. credit metrics, We including in are financial we a I as EBITDA billion noted. focused We with adjusted ended the debt of a in in remain April on cash net $X.X maintaining X.Xx, to strong billion of ratio with and investment-grade liquidity, as $X.X quarter our
mentioned earlier, of executed. to buyback of million, the As million a authorized has $XX already which board share been $XXX up
dividends to track to $X $XXX approximately the extends to We turn since strong in return over XXXX.
With base total back also in shareholders that, March, paid returns cash in return it This record $XX cash million million our our Jonathan. of I'll bringing quarter. quarterly with first to shareholders million
