OZ MINERALS expects to produce 110,000 tonnes of copper and up to 205,000 ounces of gold from its Prominent Hill mine this year, after exceeding production targets last year. Total copper production last year was 112,171 tonnes and gold production 196,400 ounces.
In the December quarter, Prominent Hill produced 25,185 tonnes of copper, down from 26,841 tonnes in the September quarter.
Gold production in the December quarter was a record high of 54,128 ounces, up from 51,451 ounces in the September quarter.
OZ Minerals said it achieved record copper and gold prices in the three months to December 31. ”Cash costs of US43.5¢ per pound for the quarter and US46.4¢ for the year place Prominent Hill in the first quartile of global producers,” the company said.
It said open-pit ore mining rates were expected to remain steady this year. ”In 2011, ore milled throughput is planned to increase to 9.6 Mtpa (million tonnes per annum), which, with lower grades of copper ore mined and recoveries at current levels, will see production of between 100,000 tonnes and 110,000 tonnes of copper maintained.”
OZ Minerals said underground construction was on track for first ore in the first quarter of next year.
AAP
