HomeBase MetalsFirst Quantum reports 14% production increase

First Quantum reports 14% production increase

First Quantum’s
Kansanshi mine in
north-west Zambia
 
London, England — MININGREVIEW.COM — 21 July 2009 – First Quantum Minerals Limited “’ a growing mining and metals company engaged in mineral exploration, development and mining in Africa “’ reports that its copper production of 92 600 tonnes for the second quarter of 2009 reflects a 14% increase over the 81 000-tonne output in the equivalent period of 2008.

Revealing this in a statement issued here, the company pointed out that copper production for the first six months of 2009 had totalled 182 100 tonnes “’ an increase of almost 17% on the 156 600 tonnes produced in the first half of 2008.

In a breakdown of production for the first half-year, Kansanshi rose to 121 200 tonnes, Frontier to 43 600 tonnes, and Guelb Moghrein to 17 300 tonnes.

Stockpiles of copper concentrate at 30 June 2009 decreased to approximately 36 500 tonnes “’ Kansanshi 33 800 tonnes, Frontier 2 600 tonnes and Guelb Moghrein 100 tonnes “’ from the 31 March 2009 level of 37 700 tonnes. Stockpiles at Kansanshi rose in the quarter as the company temporarily suspended export shipments from the mine while awaiting the government waiver of the 15% concentrate export levy. The waiver was given on 18 May 2009, and export shipments were re-started soon thereafter.

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