Straits bumps copper expectations
PERTH (miningweekly.com) – Following record production during the March quarter, copper miner Straits Resources has upped its output expectations for the full year, from 27 000 t to 28 500 t.
During the three months under review, the Tritton copper mine, in New South Wales, produced a record 8 352 t of copper. This was up from the 7 904 t produced in the previous quarter, and the 6 302 t produced in the previous corresponding period.
The miner told shareholders that the increased production was supported by higher copper grades mined from the Larsen deposit, at the North East mine, while copper grades at the main Tritton mine were also good as a result of the mine stoping sequence progressing through higher grade orebody.
Straits processed 404 168 t of ore during the quarter, and noted that the continued debottlenecking of the plant had allowed the processing plant to stay ahead of mining capacity.
The processing plant was shut down for a period of four-and-a-half days during the month of March, for a regular reline of both the semi-autogenous grinding and ball mills.
C1 unit cash costs for the quarter increased slightly to A$2.22/lb, up from the A$2.20/lb reported in the previous quarter, owing to an increase in treatment charge and refining charge costs, as a result of timing of copper shipments. This was partially offset by lower mining costs and the higher copper production.
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