JOHANNESBURG (miningweekly.com) – Panoramic Resources, which produces nickel in Western Australia and also owns gold and platinum group metal assets, said on Wednesday that it had increased its quarterly nickel production by 18% in the three months ended June and that full-year output had exceeded its guidance.
The ASX-listed mining company produced 5 537 t of nickel in concentrate in the June quarter, which was an 18% increase on its output in the March quarter. Production for the full year was 19 479 t of nickel in concentrate, which exceeded its April guidance, but was slightly below its record result of 19 741 t in the 2012 financial year.
The nickel division’s costs dropped sharply by 15% to A$5.28/lb, including royalties, which Panoramic attributed to the “outstanding” production performance of both its nickel mines, as well as the cost-saving initiatives announced late last year.
The company is forecasting 2014 nickel output to be in the range of 19 000 t to 20 000 t.