Capstone Mining produces 22,000 t Cu in Q3
Capstone Mining Corp. produced 22,000 tonnes of copper in the third quarter of 2017. The company expects to reach the low end of its production guidance range of 94,000 tonnes of copper.
CAPSTONE MINING Corp. has released production results for the three and nine months ended Sept. 30, 2017. Combined production totalled 22,000 and 67,000 tonnes of copper in the third quarter and year-to-date periods, respectively, with additional byproducts of zinc, molybdenum, lead, silver and gold.
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“Cozamin once again outperformed in the third quarter, partially offsetting lower production at Pinto Valley and Minto,” said Darren Pylot, president and chief executive officer of Capstone. “As we enter the fourth quarter, all operations are on track and we expect to achieve the low end of our guided production range for the year.”
• At Pinto Valley, production was below expectations due to throughput disruptions caused by electrical outages in August and a second one in September. Remediation work on the affected circuit will be completed in October; however, the plant is operating normally on a temporary repair. Additionally, focus in the quarter shifted from throughput maximization to overall mill optimization.
• Copper production at Cozamin exceeded expectations, driven by higher throughput. Mine development continues to advance ahead of schedule, increasing production flexibility at the operation.
• At Minto, production for the quarter continued to be impacted by mine sequencing changes to support the previously announced mine life extension. Underground mining was halted for six weeks in order to upgrade the emergency response capacity in the
current stoping areas while development to the Minto East deposit continued. Partially oxidized ore from the Area 2, Stage 3 open-pit and low-grade stockpiles supplemented the mill feed during the quarter to offset the resulting underground ore shortfall, causing lower head grade and recoveries than originally planned. Operating outlook Capstone expects to reach the low end of the range of 2017 consolidated production guidance of 94,000 tonnes (plus or minus 5 per cent) of copper.
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Erika Flores condensed this news release (email@example.com).
George Leslie Brack, Robert Joseph Gallagher, Jill Veronica Gardiner, Soon Jin Kwon, Kalidas V Madhavpeddi, Dale Canfield Peniuk, Darren Murvin Pylot, Richard Norman Zimmer
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