PERTH (miningweekly.com) – Copper/gold producer Oz Minerals has reported an increase in copper production for the three months to September, following the addition of the Antas copper project, in Brazil.
Copper production in the September quarter was up to 31 919 t, up from the 27 131 t produced in the previous quarter, at the Prominent Hill operation, in South Australia, while a further 3 004 t of copper was produced from the Antas operation.
Gold production for the quarter reached 36 601 oz, with Prominent Hill mine producing 34 143 oz and the Antas mine 2 458 oz.
For the year to date, total group copper production reached 86 516 t while gold production reached 95 595 oz.
Oz Minerals MD and CEO Andrew Cole said on Wednesday that the third quarter saw positive progress across the company’s assets and its projects.
“Prominent Hill is expected to achieve the top end of 2018 copper production guidance and the lower end of all-in sustaining cost guidance, extending the consistent, reliable performance established over the past four years. Growth capital expenditure guidance for 2018 has been lowered, primarily due to rescheduling of the Malu paste plant works, which will now commence in the fourth quarter.”
Cole said that construction of the Carrapateena operation remains on track, with the completion of the first raisebore to surface and crusher level development under way.
“We have again lowered project capital expenditure guidance for 2018, following refinements to the timing of procurement activity, which will result in higher cash outflows in the first quarter of 2019. Carrapateena expansion studies continued, with a maiden mineral resource estimate for Fremantle Doctor expected in the fourth quarter.”
Cole said that diamond drilling also continued on the Punt Hill project, with an update on the expansion desktop study due in the first quarter of 2019.
An updated mineral resource for the Nebo-Babel project is also expected during that time.
Looking ahead, Oz Minerals was expecting full-year copper production to be between 106 000 t and 116 500 t, while gold production from Prominent Hill is expected to reach between 120 000 oz and 130 000 oz in the full year.