Ven 17 Juin 2011 10:34
Metorex increase copper and cobalt output at end of 2010
Thursday, 16 Jun 2011
Metorex Mining Limited Group, owners of Chibuluma mine in Zambia, increase copper output from its operations by more than 140% by the end of last year as production of cobalt rose substantially.
According to the report for the 18 months period ending December 31 to 76,409 tonnes while cobalt outturn increase by 488% to 5,123 tonnes respectively in the 18 month period closing the year compared with 12 month period to June 30 year earlier.
The report added that because of various measures undertaken by the company, Metorex Limited increased its production substantially to ensure maximum copper and cobalt output was achieved. At Chibuluma Mine, copper output increased by three percent during the period under review because of various cost saving measures.
The company had during the last six months of 2010 increased output of the metal to 9,008 tonnes during from the 8, 721 tonnes produced during the first six months ending June 30th 2010. All the copper produced for the period was sold to Chambishi copper smelter under contract as the terms were more favorable that international pricing after taking into account the newly imposed export tax on copper concentrates.
Copper head grades decreased during the last 6 months compared to the earlier part of the year because of improved mining performance by the miner, coupled with an improved successful plant debottlenecking process and fewer electrical interruptions experienced from the service provider.
The volume of ore produced through the plant increased by 12% during the period because of improved mining performance. The mine completed the installation of additional on site generating capacity towards the end of the period to minimize the risk of further electrical interruptions at a capital cost of USD 1 million.
Plant recoveries improved by 2% to 92% as management had focused on improving recoveries and numerous intentions, primarily related to ensuring that constant flow through the float plant and improving the crushing mill method which helped improve output. On mine costs per ton milled were well controlled and remained flat at USD 59 per tonne assisted by the increased volumes mined and milled.
Realization charges also decreased by six percent per ton sold following less smelter penalties incurred. Capital expenditure remained relatively constant and amounted to USD 13.3 million as a result of the purchase of new mining fleet vehicles needed in maintain production levels as well as increased capital spend on engineering items required to upgrade the quality of capital equipment at Chibuluma.
Chibuluma commenced with an exploration program aimed at increasing the life of the mine at USD 0.6 million. Mining development remains a large proportion of the capital spending for USD 3.5 million for the current period. The Chibuluma mine increased its cash mining profit by 34% to USD 47.1 million. This was driven off the back of the higher copper production higher copper prices received and cost control.
The average copper price received increased to USD 8 112 per tonne from USD 6 436 per tonne. At Ruashi mine in Democratic Republic of Congo, planned operations of the company improved steadily throughout the period under review with targeted production levels being reached during several months in the last period, except when output was negatively impacted by transformer and rectifier failures which were caused by power supply spikes, damaging electrical equipment inadequately designed and engineered the variable power supply operations environment.
(Filed by Mr Kapembwa Sinkamba SteelGuru Correspondent Zambia)
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU