New Century maintains output
PERTH (miningweekly.com) – Base metals producer New Century Resources has reported another solid quarter of production from its namesake zinc mine, in Queensland.
During the three months to September, New Century produced 33 633 t of zinc metal, which was down 2% on the previous quarter’s 34 363 t, with the company telling shareholders on Wednesday that production growth during the quarter had been hampered by mechanical issues in the ball mill circuit and a planned major maintenance shutdown.
Sales revenue for the quarter was up 38% on the June quarter, to A$74-million, while C1 costs also increased by 7%, to $0.85/lb. All-in sustaining costs for the quarter were also 7% higher, at $0.96/lb.
“New Century achieved solid operational cashflow and zinc metal production for the September quarter. It is particularly pleasing to see the strong quarterly exit rate, with recoveries and production rising due to resolved mechanical issues within the ball mill circuit,” said MD Patrick Walta.
“The company continues to focus on increasing metal production and lowering unit costs, which will drive further growth in earnings before interest, tax, depreciation and amortisation and cashflow in the December quarter and beyond.”
Walta said that the company saw opportunity for further improvement in the zinc price, with demand set to return in countries other than China as a result of infrastructure-focused stimulus packages in response to the Covid-19 economic downturn.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation