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PanAust reports solid March quarter

29th April 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Copper miner PanAust has reported a solid quarter of production at its Phu Kham operation, in Laos, while the nearby Ban Houayxai operation suffered from lower gold production.

During the three months to March, PanAust produced 18 123 t of copper in concentrate at Phu Kham, compared with the 18 524 t of copper in concentrate produced during the previous quarter.

The Phu Kham operation reported a quarterly ore milling record, which partly compensated for the scheduled lower copper head grade. Quarterly records were also set for the total tonnes of material mined, as well as the total tonnes of waste mined.

At the Ban Houayxai gold/silver operation, PanAust produced only 23 356 oz in dore during the quarter under review, compared with the 32 933 oz produced in the previous quarter.

During the quarter under review, a new bench mining sequence was established at Ban Houayxai, resulting in the lower gold production, as well as higher cash costs of $711/oz, compared with the $533/oz in the previous quarter.

PanAust noted that the higher costs for the quarter masked an underlying improvement in unit mining and processing costs, resulting from productivity improvements.

Gold production at Ban Houayxai was scheduled to improve in the following quarters, while costs would be reduced.

For the full year, PanAust was targeting output of between 65 000 t and 70 000 t of copper in concentrate, and between 160 000 oz and 165 000 oz of gold, along with around 1.2-million ounces of silver.

Edited by Creamer Media Reporter

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