Metals processing company Inca One Gold Corporation expects its production will increase over the remainder of this year as its mining partners increase ore deliveries.
The company pointed out in a release issued on Wednesday that an extended rainy season in the South American country, which had delayed deliveries from its mining partners and negatively impacted on Inca One's output in recent months, had come to an end.
"The company is well capitalised and we have excess capacity to make up from lost production from these recent months,” president and CEO Edward Kelly said.
Inca One buys minerals from government-registered, small-scale miners across Peru for processing at its Chala One and 90%-owned Kori One milling facilities in Arequipa, Peru.
Ore deliveries to Inca One's facilities for May had increased by 52% year-on-year to 3 491 t, while throughput was down 6% year-on-year to 2 912 t, as a result of the lag time between receiving and processing the ore.
"Accordingly, we expect throughput to catch up with deliveries in the coming months," the company said.
Gold output for May, meanwhile, was 1 420 oz, compared with the 1 531 oz produced in May 2018.