By JAMES KUNDA
–
THE last quarter ended June 30, 2014 saw Kansanshi Mining record a
three per cent drop in the production of gold, on account of lower
grade of gravity recoverable metal in the stockpiled tailings.
Announcing its unaudited condensed interim consolidated financial
statements for the second quarter of 2014, global mining giant First
Quantum Minerals (FQM) said production of gold at Kansanshi fell to
41,760 ounces from 43,117 ounces in the same period of 2013.
FQM president Clive Newall said gold production was three per cent
lower than in the second quarter of 2013 as a result of a lower grade
of gravity recoverable gold in the stockpiled tailings.
He said gold sales, however, showed some improvement on the second
quarter of last year with the company selling 43, 784 ounces of the
metal in the second quarter of 2014 compared to 38,991 ounces.
Mr Newall said Kansanshi Mining recoded an improvement of four
per cent in copper production from 63,962 tonnes in the second quarter
of 2013 to 66,296 at June, 30, this year.
‘‘Overall copper production was four per cent higher compared to the
same period of 2013 due primarily to the higher volume of oxide ore
milled,’’ he said.
During the period under review, Kansanshi successfully pursued the
objective of reducing the level of concentrate inventory by processing
increasing volumes of oxide ore.
Regarding the company’s outlook for the full year 2014, Mr Newall said
it was expected that copper production would be between 255,000 and
270,000 tonnes, while gold would be between 150,000 and 160,000 ounces.
He said following another successful switching of operating circuits
in late quarter two of 2014 to treat mixed ore through the higher
throughput sulphide milling circuit, de-bottlenecking and optimization
under higher throughput conditions is being undertaken.
“This is in line with a focus on concentrate quality improvements
which form part of the objective to reduce concentrate inventory ahead
of the ramp-up of the first phase of the copper smelter complex’’.
‘‘Projects to increase installed gravity recoverable gold extraction
capacity are in progress, with additional machines installed and in
the commissioning phase. Commissioning is expected to be completed in
the third quarter 2014,’’ he said.
