HomeBase MetalsFQM sets quarterly copper production record

FQM sets quarterly copper production record

Bwana Mkubwa sulphuric
acid plants with
storage tanks in
the foreground
London, England — MININGREVIEW.COM — 16 October 2008 – First Quantum Minerals Limited (FQM) – an emerging mining and mineral company and one of the faster growing copper producers in Africa – has set a new quarterly record for copper production in the third quarter of 2008.

A statement released in London revealed that the company had achieved a record output level of 82 200 tonnes for the quarter ended 30 September 2008. The new record exceeds the production levels of the same quarter of 2007 by 22 600 tonnes – close to 40%, and the second quarter of 2008 by over 1 200 tonnes.

Total production for the first nine months of 2008 amounted to 238 793 tonnes.

The FQM statement pointed out its major producer in the third quarter had been Kansanshi mine in north-west Zambia with 53 400 tonnes, followed by Frontier in the Democratic Republic of Congo (DRC) with 18 700 tonnes. Guelb Moghrein in Mauritania produced 8 500 tonnes and Bwana Mkubwa in Zambia 1 600 tonnes.

Stockpiles of copper concentrate at the end of the third quarter totalled approximately 19 900 tonnes of copper in concentrate (Kansanshi 14 300 tonnes, Frontier 3 900 tonnes and Guelb Moghrein 1 700 tonnes) – a decrease of over 30% or 8 800 tonnes from the June 30, 2008 level of 28 700 tonnes.