https://www.miningweekly.com

Brazilian assets start to deliver for Oz

17th October 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Copper/gold producer Oz Minerals has reported an increase in copper production for the three months to September, following the addition of the Antas copper project, in Brazil.

Copper production in the September quarter was up to 31 919 t, up from the 27 131 t produced in the previous quarter, at the Prominent Hill operation, in South Australia, while a further 3 004 t of copper was produced from the Antas operation.

Gold production for the quarter reached 36 601 oz, with Prominent Hill mine producing 34 143 oz and the Antas mine 2 458 oz.

For the year to date, total group copper production reached 86 516 t while gold production reached 95 595 oz.

Oz Minerals MD and CEO Andrew Cole said on Wednesday that the third quarter saw positive progress across the company’s assets and its projects.

“Prominent Hill is expected to achieve the top end of 2018 copper production guidance and the lower end of all-in sustaining cost guidance, extending the consistent, reliable performance established over the past four years. Growth capital expenditure guidance for 2018 has been lowered, primarily due to rescheduling of the Malu paste plant works, which will now commence in the fourth quarter.”

Cole said that construction of the Carrapateena operation remains on track, with the completion of the first raisebore to surface and crusher level development under way.

“We have again lowered project capital expenditure guidance for 2018, following refinements to the timing of procurement activity, which will result in higher cash outflows in the first quarter of 2019. Carrapateena expansion studies continued, with a maiden mineral resource estimate for Fremantle Doctor expected in the fourth quarter.”

Cole said that diamond drilling also continued on the Punt Hill project, with an update on the expansion desktop study due in the first quarter of 2019.

An updated mineral resource for the Nebo-Babel project is also expected during that time.

Looking ahead, Oz Minerals was expecting full-year copper production to be between 106 000 t and 116 500 t, while gold production from Prominent Hill is expected to reach between 120 000 oz and 130 000 oz in the full year.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION