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PanAust improves production across the board

PanAust improves production across the board

Photo by Bloomberg

23rd January 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Metals miner PanAust has reported a production increase over all its commodities for the full year ended December, with copper production up 2.5%, gold production up 35% and silver production up 55%.

During the year under review, copper production rose 64 885 t, while gold production came in above guidance at 183 769 oz and silver production jumped to 955 357 oz.

PanAust reported that the full-year production was driven by a strong quarter, with its Phu Kham mine, in Laos, delivering 18 524 t of copper in concentrate, a 9% quarter-on-quarter increase.

The Ban Houayxai gold/silver operation delivered a record 32 933 oz during the last quarter, along with 226 151 oz of silver.

The processing rates at Ban Houayxai continued to exceed the nameplate capacity of four-million tonnes a year, despite a greater proportion of hard transitional ore being milled. Gold and silver grades during the quarter also increased, which led to the record production performances.

PanAust told shareholders that in 2014, the company was expecting to deliver between 65 000 t and 70 000 t of copper in concentrate, between 160 000 oz and 165 000 oz of gold, and some 1.2-million ounces of silver.

Edited by Creamer Media Reporter

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