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Hillgrove expects more from Kanmantoo

20th January 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Copper miner Hillgrove Resources is expecting to produce between 5 400 t and 5 600 t of copper in concentrate during the quarter ended January, as production from the new owner-operator model ramped up further.

During the third quarter ended October, the Kanmantoo operation delivered 4 306 t of copper in concentrates.

Hillgrove MD and CEO Greg Hall said on Monday that two new excavators had been purchased for use at the Kanmantoo operation, with the first already operating in the Kavanagh pit.

“The arrival and commissioning of these excavators will provide both improved productivity and lower costs by allowing a further ramp-up in the volume of tonnes moved from the mining pits, in line with the company’s long-term mine plan.”

Hall said that this would see production benefits leading to improved cash flows and profits from Kanmantoo.

The company has also taken advantage of the currently high copper price and the low Australian dollar by conducting additional hedging for the first half of 2015.

As such, the company has entered into contracts to deliver 2 280 t of copper concentrate at a weighted average price of A$8 291/t.

Edited by Creamer Media Reporter

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