Chibuluma

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Laf1986

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Inscription: Jeu 30 Juil 2009 19:54

Message Mer 9 Sep 2009 12:42

Chibuluma

Metorex viennent de publier leurs résultats trimestriels, à la suite quelques élements


The Chibuluma mine performed well and increased its annual production by 9% for the year to 15 940 tons of copper.
Le prix de la tonne produite est à 2700 dollars

Quarterly commentary
Chibuluma copper production was 3% higher than the previous quarter and increased to 3 979 tons mainly as a result of the higher head grades.
The June 2009 production month was an all time record for Chibuluma with 1 600 tons of copper produced. However, mining production tonnage
at 133 977 tons was 2% less than previous quarter due to limited face availability on the 411 metre level which was still being established early on in the quarter. In addition there was a regional power supply interruption totalling three and a half days caused by a failure of an incoming transformer in April 2009.
508 metres of capital development was achieved, but was 37 metres less than the previous quarter, primarily for the same reasons as above.
The mill head grade showed an improvement on the previous quarter to 3,3% copper (3,1% copper) as a result of mining from the 411 metre
level horizon.
Saleable tonnage of copper in the fourth quarter amounted to a record of 4 049 tons. Concentrate was despatched to Chambishi Copper Smelter
(“CCS”) in Zambia and exported to Republic House under an export exemption until the new contract was concluded with the local smelter. From June 2009 to December 2009, all concentrate production will be sold to CCS.
Chibuluma achieved an average copper price of US$4 235 per ton during the quarter and this, along with higher production sales and tight cost
control led to a 64% increase in mining profit before depreciation. The total cash cost was US$2 671 per ton of copper sold.
Capital expenditure increased over the previous quarter, due primarily to timing of production machine rebuilds.
The improvement of copper grade with the increased depth will continue to support the current copper production levels. The opening of the
411 metre level has also improved the flexibility for both mining and back filling cycles. Chibuluma should produce an estimated 4 200 tons of
copper in the September 2009 quarter.
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Message Mer 9 Sep 2009 15:41

Metorex's profit dives, to sell non-core assets Wed Sep 9, 2

Metorex's profit dives, to sell non-core assets
Wed Sep 9, 2009 1:08pm GMT


JOHANNESBURG (Reuters) - Profits at South African miner Metorex fell 81.8 percent in its last fiscal year, hit by a sharp drop in commodity prices, and the company said it would sell non-core assets to improve liquidity.

Metorex said headline earnings per share -- excluding a 2.3 billion rand impairment charge -- dropped to 24 cents in the year to end-June from 132 cents in 2008.Headline EPS is the main profit gauge in South Africa and strips out certain one-off, non-trading and financial items.

Metorex said it spent 1.5 billion rand during the year on capital expenditure, mainly due to its expansion projects, down from the 2 billion rand spent the previous year.

Metorex, which is aggressively expanding its Zambia and the Democratic Republic of Congo mines, also said its copper output rose by 23 percent to 31,207 tonnes in the year to end-June, boosted by increasing output from its Ruashi mine, and said production would rise further.

"Copper production is expected to increase during the next quarter due to higher grades at Chibuluma and the continued ramp-up at Ruashi," the company said in a statement.

Ruashi copper output is forecast to be 5,400 tonnes for the quarter ending September, while cobalt production will average 560 tonnes, the company said.

Metorex said it had improved its liquidity through increased production, higher commodity prices and the sale of some non-core assets.

Production at the Vergenoeg mine of fluorspar, which is used in smelting, dropped by 15 percent on the back of lower demand. It expects an output of 38,000 tonnes of acidspar in the September quarter.
« L'aventure n'existe pas. Elle est dans l'esprit de celui qui la poursuit, et dès qu'il peut la toucher du doigt, elle s'évanouit pour renaître bien plus loin, sous une autre forme, aux limites de l'imagination. »
( Pierre Mac Orlan )

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