PERTH (miningweekly.com) – ASX-listed copper miner Altona Mining has increased its full-year production guidance following a record September quarter.
The miner on Tuesday reported that its Outokumpu project, in Finland, had produced a record 3 381 t of copper equivalent, compared with the 2 262 t produced in the three months to June.
Copper in concentrate production reached 2 677 t during the three months under review, while gold in concentrate was reported at 2 934 t. The increased results were driven by higher grades for both copper and gold during the quarter, as well as an increase in the volume of ore milled.
During the quarter, Altona sold 11 006 t of copper concentrate, compared with the 8 428 t sold in the three months to June.
As a result of the increased production, Altona has predicted that full-year copper production would increase from the previous estimate of between 7 600 t and 8 400 t of copper, to between 8 000 t and 8 800 t of copper, and its gold production from between 8 000 oz and 9 000 oz, to between 8 400 oz and 9 200 oz.
Cash cost forecasts for the full year have also been lowered to between $1.60/lb and $1.75/lb.