Message Jeu 31 Jan 2013 09:39

Q3 zambia

Copper - Zambia





Q3

Q2

Nine months period

Particulars (in'000 tonnes, or as stated)

FY2013

FY2012

% change YoY

FY2013

FY2013

FY2012

% change YoY

Mined metal

40

34

17%

45

126

109

15%

Copper - Total

52

51

3%

61

162

153

6%

Integrated

41

37

10%

47

124

105

18%

Custom

11

14

(16%)

14

38

48

(20%)



Mined metal production was 17% higher at 40,000 tonnes in Q3, as compared with the corresponding prior period. The increase during the quarter was driven by higher primary copper production at the Nchanga Tailings-Leach Plant. Production at Konkola was stable with mine dewatering and development activities progressing as planned. Compared to the preceding quarter, Q2 FY2013, mined metal production was lower due to the seasonal effect of monsoons and the winding-down of the Chingola Open Pits D&F contract.



Total production of copper cathodes was 3% higher at 52,000 tonnes in Q3. Integrated production was 10% higher at 41,000 tonnes in Q3, in line with mined metal production during the quarter. Custom smelting was lower in Q3 due to limited availability of the appropriate blend of copper concentrates.



EBITDA in Q3 was $36.4 million as compared with $67.7 million in the corresponding prior period mainly on account of higher waste stripping and lower ore production at the Nchanga open pits, increased royalty rates and the impact of changes in wage and currency regulations.



At the Konkola Deep Mining Project (KDMP), waste hoisting from the bottom-shaft loading level of the new shaft#4 is progressing as planned. Ore hoisting is expected to commence during the first half of FY2014.