VED Q3 results
Copper - Zambia
During Q3, the integrated copper cathode production was 34,000 tonnes, 21% higher than the corresponding prior period. This was primarily on account of improvement at the Nchanga operations with higher production at the open pits and higher throughput at the tailings leach operations. We continue to work on further improving operational efficiencies across all operations.
Integrated copper production during the nine month period was 100,000 tonnes, 8% higher than the corresponding prior period. During the same period, the total copper production including custom operations was 169,000 tonnes.
Mined metal production for Q3 and the nine month period was 26,000 tonnes and 73,000 tonnes, higher by 18% and 22%, respectively, as compared with the corresponding prior periods.
EBITDA in Q3 was $143.4 million, significantly higher compared with $35.6 million in the corresponding prior quarter on account of higher LME prices, higher volumes, and lower operating costs.
Work at the Konkola Deep Mining Project, the new concentrators at Nchanga and the CRO project continues to progress on schedule.