Prominent Hill meets production targets – Oz Minerals
PERTH (miningweekly.com) – ASX-listed metals miner Oz Minerals said on Wednesday that full year production from its Prominent Hill operation, in South Australia, had delivered on expectations during 2013.
The miner reported on Wednesday that copper production reached 73 365 t during the full year ended December, which was within the upper half of the guidance of between 70 000 t and 75 000 t, while gold production of 128 045 oz was within the stated guidance of between 120 000 oz and 130 000 oz.
In the three months to December, Oz produced 18 119 t of copper and 37 060 oz of gold, compared with the 17 390 t of copper and 28 117 oz of gold produced during the previous three months.
Oz Minerals ascribed the higher copper production in the December quarter to increased ore from the Malu openpit and Ankata underground operations, as well as higher recoveries and higher mill grades.
Increased gold production during the quarter resulted from increased gold ore in the mill feed.
The increased production at the Malu openpit mine came despite previously reported challenges at the operation, as an attempt to maximise ore production during the first part of 2013 led to inefficiencies within the pit.
A number of measures were currently being undertaken to ensure the most efficient and productive use of mining equipment to maximise the value of the remaining life of the pit.
Oz Minerals suffered shareholder backlash at the end of last year after the company revealed a lower-than-expected 2014 production forecast. For the full year, the miner was expected to deliver between 75 000 t and 80 000 t of copper, and it maintained its gold forecast at between 130 000 oz and 140 000 oz.
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