PERTH (miningweekly.com) – Copper/gold miner Oz Minerals has maintained its production expectations for the full 2019 following a solid third quarter.

The ASX-listed miner on Wednesday reported that copper production for the three months to September reached 24 663 t, compared with the 28 525 t produced in the previous quarter, while gold production increased from 27 072 oz to 30 346 oz in the same period.

“As we enter the final quarter of the year our two major assets are well positioned to achieve their respective schedule, production and cost targets. Concentrate stocks have returned to normal levels following strong sales in the third quarter, with volumes now recovered from the prior quarter,” said CEO Andrew Cole.

Prominent Hill delivered 23 100 t of copper and 28 844 oz of gold during the three months under review, with Cole telling shareholders that the project was expected to end the year well within guidance.

“We have lowered C1 cost guidance for the year and all-in sustaining costs are expected to be at the bottom end of the guided range. However, despite achieving a combined run rate of 3.8-million tonnes a year in July and August, underground ore movement guidance has been lowered to between 3.3-million tonnes to 3.5-million tonnes for 2019.”

Cole noted that ore movement in September was impacted by the Woomera defence activity and isolated stope oversize issues, with the lower underground volumes achieved in the first quarter not likely to be recovered before the end of the year.

At the Carrapateena operation, over 180 000 t of development ore has been stockpiled at the surface, and production drilling has started on the first production level and underground decline development has moved beyond the fifth production level access.

The site is now connected to the grid network and staged energisation of the minerals processing plant is under way.

At Antas, Oz Minerals produced 1 563 t of copper and 1 502 oz of gold during the September quarter, with Cole on Wednesday raising the production guidance for the full year following the cessation of the planned cutback in favour of wall steepening.

“Looking ahead to the end of the year, we are firmly focused on delivering first saleable concentrate at Carrapateena and achieving our forecast production, cost and other targets at Prominent Hill,” he said.