Oz Minerals lifts copper production forecast
PERTH (miningweekly.com) – Copper/gold miner Oz Minerals has flagged a 30 000 t increase in copper production over the next two years, but gold production is will be lower than previously thought.
The miner on Monday maintained its copper output guidance for 2017 at between 105 000 t and 115 000 t, but increased its guidance for 2018 and 2019 to between 90 000 t and 100 000 t each.
This is up from the previous guidance of 85 000 t to 95 000 t for 2018, and 65 000 t to 75 000 t for 2019.
Meanwhile, gold production expectations have declined from the previous estimate of between 125 000 oz and 135 000 oz of gold during 2017, to between 115 000 oz and 125 000 oz.
For the longer term, gold production expectations have declined from the previous 140 000 oz to 150 000 oz targeted in 2018 and 150 000 oz and 160 000 oz in 2019, to between 120 000 oz and 130 000 oz for both years.
Meanwhile, Oz Minerals on Monday reported that copper production for the December quarter had increased slightly to 29 758 t, from 28 756 t in the previous quarter. Gold production increased to 32 205 oz, from 28 466 oz in the September quarter.
“The actions we’ve taken in the last 12 months in executing our strategy have positioned us strongly for the year ahead and beyond,” said CEO Andrew Cole.
“Prominent Hill demonstrated its operating discipline delivering on copper guidance in the face of a major state-wide power outage, which resulted in 15 days of lost production during the second half of 2016.”
In addition to meeting production targets, Oz Minerals also extended the mine life of Prominent Hill following a 40% increase in the project’s underground reserve. The project’s life has now been extended to 2028.
Comments
Research Reports
Projects
Latest Multimedia
Showroom
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
