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Quarterly production up - PanAust

29th October 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed copper and gold miner PanAust has increased its gold production during the third quarter ended September, as quarterly records for ore processing and recovery rates were posted at its Phu Kham operation, in Laos.

During the quarter under review, PanAust's gold production increased to 47 186 oz, compared with the 44 804 oz produced in the three months to June.

At Phu Kham, gold production increased 27% quarter-on-quarter to 20 442 oz, with copper in concentrate production up 11% on the previous quarter to 17 124 t.

Phu Kham processed a record 4.8-million tonnes of ore during the quarter, substantially above the design rate, as the plant processed softer ore types.

The ramp-up of the increased recovery project was also completed during the quarter, leading to quarterly records of copper and gold recovery.

At the Ban Houayxai gold/silver operation, also in Laos, PanAust produced 26 764 oz of gold and 152 831 oz of silver.

PanAust noted that for 2013, the company’s production outlook remained unchanged, with between 62 000 t and 65 000 t of copper in concentrate expected, and a precious metals production of between 160 000 oz and 175 000 oz of gold, along with some one-million ounces of silver.

Gold production would likely be towards the top-end of the guidance, after PanAust announced a revised life-of-mine plan for its Ban Houayxai operation, which would see full-year production at 10% higher than the assumption for the production guidance, at around 110 000 oz.

Edited by Creamer Media Reporter

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