JOHANNESBURG (miningweekly.com) – Continued mining activities at Copper Mountain Mining’s eponymous mine, in southern British Columbia, during October and November, have seen the company achieve an above-average mining rate of 193 550 t/d, against its 174 000 t/d budget.
The TSX-listed miner said in a statement on Tuesday that its yearly production was on track, with year-to-date copper production totalling 76-million pounds of copper, which is slightly ahead of guidance for the year. The company also produced 14.4-million pounds of copper during the months of October and November.
A total of 12.4-million tonnes of material was mined, including 4.4-million tonnes of ore and 8-million tonnes of waste, resulting in a strip ratio of 1.8:1 from its Pit 2 area, the Saddle area, and the newly developed Oriole deposit just south of the mine’s Pit 3. High equipment mechanical availability was also maintained during the quarter, which helped contribute to the above-average mining rates achieved.
Meanwhile, the miner noted that its mill continued to operate above design capacity rates, averaging 42 079 t/d for the months of October and November. Total tonnes milled during the period was 2.6-million, with an operating time of 93.6%.
Copper recovery for the two months averaged 80% as initial oxidised ore from Oriole was starting to be processed through the concentrator. The average grade for the two months was as planned at 0.32% copper.
Further, Copper Mountain noted that gold and silver production from the mine continued to provide a favourable contribution to the operation, accounting for over 20% of the mine revenue.
"The new production records being achieved at the mine have greatly strengthened our operating base and our balance sheet,” said CEO Jim O'Rourke, adding that the recent rise in the copper price was a welcome change and that gold production continued to provide a strong by-product credit.