Savannah restart keeps delivering for Panoramic

31st January 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia


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PERTH ( – Base metals miner Panoramic Resources has reported its highest production at its Savannah operations, in Western Australia, since operations were restarted.

Concentrate production in the three months to December were up by 13% to 20 274 t, with contained nickel up 14% to 1 524 t, contained copper up by 2% to 830 t, and contained cobalt up by 21% to 105 t.

Concentrate shipments during the quarter increased by 48%, to 23 801 t, containing 1 755 t of contained nickel, 996 t of contained copper and 128 t of contained cobalt.

C1 costs for the quarter fell by 1% on the previous quarter, to A$11.81/lb, while all-in sustaining costs (AISC) also fell by 1% to A$13.71/lb.

“The ramp-up of underground mining activities at Savannah was a particularly pleasing achievement and supported record plant throughput and concentrate production in the quarter. With a workforce fully established and improving safety performance, our staff and business partners can be proud of the improved performance this quarter,” said Panoramic MD and CEO Victor Rajasooriar.

“Minimising the impact of cost escalation is a big focus for our team in the quarters ahead. Our business is in good shape and we look forward to delivering on our ramp-up plan with a target of improved production again next quarter.”

For the full 2023, Panoramic has set a production target of between 6 600 t and 7 100 t of nickel, between 4 100 t and 4 500 t of copper, and between 400 t and 500 t of cobalt, at a C1 cost of between A$11/lb and A$11.50/lb, which was higher than the original estimate of between A$7.30/lb and A$8.30/lb, reflecting the higher costs for fuel, freight, labour, consumables and lower by-product metal prices.

AISC for 2023 are estimated at between A$16-million and A$20-milion, lower than the previous estimate of between A$20-million and A$28-million, driven by the redeployment of a jumbo in the second half based on underground development at Savannah North being ahead of schedule.

Edited by Creamer Media Reporter



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