Lower grades impact Panoramic production
PERTH (miningweekly.com) – Nickel miner Panoramic Resources has reported a 22% decline in nickel production and a 19% decline in copper production for the December quarter, compared with the previous three months.
Nickel-in-concentrate production at the Savannah operation, in Western Australia, declined from 1 342 t to 1 042 t during the December quarter, while contained copper declined from 855 t to 695 t.
Despite higher mined tonnage from the Savannah operation, both nickel and copper grades declined during the quarter, resulting in the lower production.
Unit cash costs for the quarter were also negatively impacted by the declining grades, with operating cash costs increasing from A$9.74/lb to A$12.76/lb.
Panoramic earlier this week downgraded its full year production expectations to between 5 200 t and 5 600 t of contained nickel, between 3 400 t and 3 700 t of contained copper, and between 280 t and 320 t of contained cobalt.
This compared with the previous guidance of between 7 000 t and 7 500 t of contained nickel, between 4 500 t and 5 000 t of contained copper, and between 400 t and 450 t of contained cobalt.
The decrease in production expectation was driven by lower production volumes in the second half of the financial year, driven by revised mining contract equipment mobilization timing and forecast personnel ramp-up, as well as further revised scheduling for mining activities at the Savannah remnant ores.
The ASX-listed miner is currently working to bring the Savannah North project on line, with first stoped ore planned for the March quarter of this year.
Comments
Research Reports
Projects
Latest News
Showroom
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
