Q3 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.