Chibuluma
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.