Metals X cuts tin forecasts at Renison
PERTH (miningweekly.com) – Base metals miner Metals X has lowered the production expectations at its 50%-held Renison tin project, in Tasmania.
The miner on Wednesday said that production of tin concentrate is now expected to reach between 7 000 t and 7 400 t in the 2019/20 financial year, down from the previous estimate of 8 000 t to 8 500 t.
Furthermore, all-in sustaining costs for this period are also expected to increase to between A$18 200/t and A$19 100/t, up from the previous guidance of between A$17 000/t and A$17 500/t.
The lower output and higher costs are attributed to lower ore grades from the Lower Federal area, and delayed stoping from Area 5, Metals X told shareholders.
An optimisation study for Area 5 is progressing with geotechnical, mine design, ventilation and backfill studies well progressed in conjunction with life-of-mine evaluation across the whole operation. The completion of the study is planned for March next year, and will provide detailed input in the life-of-mine schedule, allowing for production guidance for the subsequent years, Metals X said.
A metallurgical improvement programme is also progressing, with improvements in metallurgical recovery being reported.
Meanwhile, Metals X noted that the care-and-maintenance implementation at its Nifty copper mine is progressing as planned, with 85% of the staff and concentrators now being off-site.
Metals X halted operations at the Western Australian mine earlier this year following a review of the mine, which continued to perform below expectations.
A strategic review process for the mine started in late November, considering all the strategic options for the Nifty mine, with an update on the progress of this review scheduled for February next year.
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