résultat 3eme trim 2012 fqm

<<

ggaultie

Messages: 121

Inscription: Lun 7 Sep 2009 19:01

Message Mer 31 Oct 2012 23:09

résultat 3eme trim 2012 fqm

<<

ggaultie

Messages: 121

Inscription: Lun 7 Sep 2009 19:01

Message Mer 31 Oct 2012 23:12

Kansanshi expansions, Zambia

DEVELOPMENT ACTIVITIES

Kansanshi expansions, Zambia

The multi-stage Kansanshi plant upgrade to an annual production capacity of 400,000 tonnes of copper continued in Q3 2012. The stage one oxide circuit expansion to 7.2 Mtpa was completed in Q2 and optimized during Q3 2012. The benefit of this expansion is expected during Q4 2012 once acid supply is increased with the operation of the fifth acid plant.

Progress on the stage two oxide capacity expansion to 14.5 Mtpa continued with civil works nearing completion and structural installation underway. Completion remains on target for the first half of 2013. Acid supply will dictate the rate of oxide treatment until the smelter is commissioned in mid-2014, however the output of the five acid plants as well as the current volume of acid that can be externally sourced will allow for interim treatment rates of approximately 10 Mtpa.

In the medium term, some of Kansanshi's mining areas for oxide ore are characterized as high grade, high acid-consuming ore. Currently the supply of sulphuric acid from the acid plants requires the import of sulphur at high costs. Consideration will be given to withholding the high grade, high acid-consuming ore from production until acid is available at minimal cost from the Kansanshi smelter. In this event, the capacity of the oxide expansions and fifth acid plant may not be fully exploited.

The second phase of the 400,000 tonne annual production capacity expansion project is a proposed expansion of the sulphide treatment facilities by construction of a new section of plant capable of treating up to 16 Mtpa of sulphide ore. Initial board approval has been granted to allow design work to commence along with ordering of long-lead equipment. Construction of this new plant is planned to commence in 2013. Full project commitment is expected in Q4 2012 following completion of the resource definition drilling program, which is necessary for detailed mine planning.

Copper smelter project, Zambia

Kansanshi's concentrate is currently treated at smelters in Zambia, however, existing domestic smelting capacity will be insufficient to process the substantial increase in production resulting from the Kansanshi expansion and the Sentinel project. The new copper smelter is designed to process 1.2 million tonnes of concentrate to produce over 300,000 tonnes of copper metal annually. The smelter is expected to also produce 1.0 million tonnes of sulphuric acid as a by-product at a low cost which will benefit Kansanshi by allowing the treatment of high acid-consuming oxide ores and the leaching of some mixed ores. The additional acid is also expected to optimize the expansion of the oxide leach facilities and allow improved recoveries of leachable minerals in material now classified and treated as mixed ore.

Detailed design works on the smelter are well progressed and all major equipment packages have been ordered. On site, earthworks construction is approximately 65% complete and concrete pouring is underway. Structural and mechanical installation will be commencing in early 2013. The project is scheduled for construction completion in mid-2014 followed by commissioning and ramp up.

Sentinel project, Zambia

A mineral resource and reserve estimate for the Sentinel copper project was released in March 2012. An estimated measured and indicated resource of 1,027 Mt at 0.51% copper grade, containing 5.2 Mt of copper has been delineated, inclusive of an estimated recoverable proven and probable mineral reserve of 774 Mt at 0.50% copper grade, containing 3.9 Mt of copper. The life of mine strip ratio is anticipated to be 2.2:1 and the estimated mine life is in excess of 15 years.

The project is expected to produce up to 280,000 to 300,000 tonnes of copper in concentrate annually.

Project construction activities ramped up in early Q2 2012 following approval from the Company's Board of Directors. Significant progress has been made to date including; advancement of detailed design engineering, completion of process plant earthworks, construction of a concrete batch plant with over 7,800 cubic metres of concrete poured and 1,250 tonnes of structural steel fabrication completed.

The key construction activities for the remainder of 2012 and into 2013 include; arrival of structural and mechanical packages at site, construction of the tailings storage facility, commencement of tender packages for the 330kV transmission line and substation, delivery of first mining fleet and commencement of pre-operating mining works including the installation of in-pit crushing and completion of housing for over 200 staff. The Company will continue project development with an ongoing commitment to social responsibility within the complete license area.

Project capital costs are estimated at approximately $1.7 billion with project completion expected during 2014.

Exploration

Exploration programs continued at a high level in most districts with major drilling campaigns active at Trident and Kansanshi. The Company has recently entered into two new joint ventures in Peru and Turkey which are both focused on early stage copper and gold porphyry opportunities.

Trident Exploration

At Trident 10 drill rigs are active split between Enterprise resource drilling and regional target testing within the Trident license area. The resource definition drilling over the main Enterprise deposit was completed during Q3 2012 and geological modelling and resource estimation on the main Enterprise resource should be finalized in Q4 2012. Resource drilling has now moved on to the adjacent Enterprise Southwest prospect which has now been broadly delineated but requires better definition for resource classification.

Several regional targets were drill tested during the quarter. The best target to date is at 'Bream', approximately 20 kilometres ("km") northeast of Enterprise, where low grade copper mineralization has been intersected in several holes.

Kansanshi

At Kansanshi 14 core rigs continued operating on the project divided between incremental resource and reserve additions immediately around the existing pits and the district exploration program. These programs are designed to provide enhanced definition of longer term oxide and sulphide resource potential as well as to test the ultimate extents of the mineral system.

Several exploration drill rigs are focused on the final phase of resource drilling on the Southeast Dome which is nearing completion with the final resource estimation in process. Further rigs are working on completing large scale regional cross sections and new targets northwest and southeast of the current pits.

A large scale magneto-telurics ("AMT") geophysical survey has been completed over much of Kansanshi during the period. The majority of the survey has been very successful in effectively mapping the broad architecture of the 'Greater Kansanshi Dome'. In combination with the regional drill transects this AMT survey will allow the delineation of smaller scale structural domes that are now known to focus mineralization into the presently defined deposits at Kansanshi. Several new targets are already apparent that will be drill tested.

Five rigs are active on resource development drilling around the Kansanshi pits and continue to report vein intercepts beyond the current reserve area, particularly around the North-West pit. These areas continue to add incremental additions to the significantly increased Kansanshi resource and reserve position.
<<

Laf1986

Messages: 4998

Inscription: Jeu 30 Juil 2009 19:54

Message Mer 31 Oct 2012 23:29

Re: résultat 3eme trim 2012 fqm

Excellents résultats

Coûts en baisse, augmentation forte de la production, smelter finit mi 2013, augmentation à 400 000 tonnes fin d'année 2012?
<<

LesCrozes

Avatar de l’utilisateur

Membre d'honneur

Messages: 5910

Inscription: Jeu 14 Mai 2009 16:23

Message Ven 2 Nov 2012 11:55

Credit Suisse Optimistic on First Quantum Minerals

Analyst Actions: Credit Suisse Optimistic on First Quantum Minerals; Maintains "Outperform", TP at $27.50
Posted 11/1/2012 12:46 PM

3Q12 FD EPS $0.23. "Results compare to our estimate of $0.21 and consensus of $0.25. Compared to our EPS, higher copper sales (77.4Kt vs. our 69.5Kt) and gold sales (48.9Koz vs. our 39.2Koz) were partially offset by unit costs and income taxes."
Kansanshi delivers solid operating qtr. "Total copper production of 84.1Kt was better vs. our estimate of 74Kt, largely due to higher sulphide ore throughput and higher oxide grades at Kansanshi. The full benefit of Kansanshi oxide expansion is expected to be realized in 4Q12, coinciding with the commissioning of the fifth acid plant. Copper cash costs came in at $1.44/lb (Credit Suisse estimate: $1.23/lb) on higher acid costs at Kansanshi and lower gold credits at Guelb. Nickel production was in-line at 9.9Kt. Through 3Q12, total copper, gold, and nickel production are tracking at 77%, 75%, and 70%, respectively, of the mid-point of full-year targets."
Guidance better: "Production guidance was revised higher for copper to 285-295Kt copper (from 270-290Kt previously) and for gold to 175-190Koz (from 170-190Koz previously). Nickel production guidance remains unchanged. Copper cash cost guidance was revised down to $1.50/lb copper (from $1.55/lb) while nickel cash costs at Ravensthorpe were also revised down to $6.20/lb (from $6.50/lb). Capex guidance was revised up to $1.5Bln (from $1.2-1.4Bln)."
Catalysts: "We believe a number of milestones over the next 6-12 months will reinforce our view of the FM growth story, including: Enterprise resource estimate (4Q12); Kevitsa 10Mtpa expansion environmental approval (1H13); and Kansanshi 14.5Mtpa expansion commissioning (1H13)."
Valuation: "Maintain Outperform. Our TP of C$27.50 is based on a 50/50 weighting of 1x our NAVPS of C$24.35 and 5.5x FY13/14 EV/EBITDA."


Read more: http://community.nasdaq.com/News/2012-1 ... z2B3dN6VjG
Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU

Retourner vers About Kansanshi - First Quantum Minerals

Powered by phpBB - Designed by Vjacheslav Trushkin for Free Forums/DivisionCore - Traduction par: phpBB-fr.com