New Century's output drops
PERTH (miningweekly.com) – Zinc miner New Century Resources has reported a 4% drop in production from its namesake project in Queensland, during the quarter ended December.
The miner on Friday announced that zinc production for the three months to December had reached 32 400 t, down from the 33 600 t produced in the September quarter, with reduced operating hours and operational instability caused by significant wet season rain events and persistent power supply interruptions from the Mica Creek power station, as it transitioned to permanent shutdown at the end of 2020.
Despite the drop in quarterly production, New Century reported a peak daily production of 477 t of zinc metal, which was set during the quarter.
C1 costs for the quarter were also 12% higher at $0.95/lb, owing to the increased wet season management costs and lower metal feed to the plant, while all-in sustaining costs were up by 13%, to $1.08/lb.
“Despite operational challenges within the December quarter, New Century has continued to deliver solid production, underpinning the best operational cashflow quarter since restarting operations at the Century mine in 2018,” said MD Patrick Walta.
“This is particularly pleasing when combined with the recently announced successful reduction in estimated rehabilitation costs for the Century mine, with New Century rehabilitation activities to date delivering a A$14.1-million reduction in financial assurance.”
Meanwhile, New Century also reached a shipping milestone during the quarter under review, marking its 500 000th tonne of concentrate shipped.
Looking at the full 2021, the company has set a production guidance of between 140 000 t and 160 000 t, at a C1 cost of between $0.65/lb and $0.75/lb.
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