https://www.engineeringnews.co.za

Capstone improves Q2 output as mines bounce back

13th July 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – Shareholders rewarded Canadian copper producer Capstone Mining on Wednesday, pushing its TSX-listed stock up some 11% following the Vancouver-headquartered company reporting improved second-quarter production results.

Copper output rose 15% quarter-over-quarter in the three months ended June, hitting 24 000 t of red metal, compared with 20 900 t in the first quarter. That brings the year-to-date total to 44 900 t.

At Capstone’s Pinto Valley mine, in Arizona, throughput averaged 58 700 t/d for the quarter, setting a quarterly throughput record as well as achieving a new monthly throughput record in May of 60 300 t/d. Grade, recoveries and production were according to plan for the quarter.

At Cozamin, in Mexico’s Zacatecas state, grade and recoveries were on point, with throughput continuing ahead of plan on ongoing improvement in mine production and mine development.

At Minto, in Canada’s Yukon Territory, production for the quarter was impacted by mine sequencing changes to support a mine life extension into 2020. Throughput continued higher-than-planned, but head grade and recoveries were lower than expected owing to a higher percentage of partially oxidised ore feeding the mill from the Area 2, Stage 3 openpit and underground mining running slightly behind schedule.

Capstone expects to be within the range of 2017 consolidated production guidance of 94 000 t of copper. Minto and Cozamin are expected to complete the year on, or above plan, largely offsetting Pinto Valley's first quarter deficit.

Capstone's stock closed up C$0.05 a share at C$1.05 each.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 
Craig Miller Technical Services (CMTS)
Craig Miller Technical Services (CMTS)

CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.056 0.848s - 140pq - 2rq
Subscribe Now