First Quantum sets 2013 copper output guidance at up to 330 000 t
JOHANNESBURG (miningweekly.com) – London- and Toronto-listed miner First Quantum Minerals anticipated its copper production to reach between 302 000 t and 330 000 t in 2013, after recording a 16% year-on-year increase in copper production to 307 115 t in 2012.
The marked increase was boosted by a yearly production record at the company’s Kansanshi copper-gold mine, in Zambia, as well as by the contribution from its Kevitsa copper-nickel mine, in Finland, which reached commercial production in August 2012.
First Quantum also expected to produce between 40 000 t and 45 000 t of contained nickel in 2013, after producing 36 759 t in 2012, which included tonnages from the Ravensthorpe mine, in Australia, which had its first full year of production, as well as production from Kevitsa.
Further, gold production was forecast to reach between 190 000 oz and 215 000 oz in the year ahead. This was on the back of a 15% year-on-year production improvement to 201 942 oz recorded in 2012.
Improved gold production for the year was as a result of gold circuit enhancements at Kansanshi, which yielded higher recoveries, and the first contribution from Kevitsa.
FOURTH QUARTER PRODUCITON
Total copper production improved by 26% to 84 918 t in the fourth quarter of 2012, compared with 67 316 t in the fourth quarter of 2011, owing to higher sulphide grades and higher throughput as a result of the continued expansion of the oxide circuit at Kansanshi, higher throughput rates at Guelb Moghrein and the contribution from Kevitsa.
Total nickel production also increased by 78% to 10 096 t in the last quarter of the year, compared with the 5 666 t produced in the fourth quarter of 2011, boosted by a full quarter of commercial production at the Ravensthorpe and Kevitsa operations.
Gold production rose 48% to 64 383 oz in the fourth quarter, compared with the 43 524 oz achieved in the 2011 equivalent quarter, with higher grades and recovery rates at Kansanshi together with the contribution from Kevitsa.
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