Minmetals Resources (01208) announced that in the first quarter of 2024, total copper production (electrolytic copper plus copper concentrate contains copper)...
According to Zhitong Finance App, Minmetals Resources (01208) announced that in the first quarter of 2024, total copper production (electrolytic copper plus copper concentrate containing copper) was 671,000 tons, a decrease of 3% over the same period last year. Las Bambas copper production declined by 4%, mainly due to lower mineral processing grades. This is due to the fact that during the development of the fifth phase of the Ferrobamba mine, the low-grade section needed to be mined first according to the mining sequence in order to enter the higher grade section in the third and fourth quarter, while consuming low-grade stocks of ore. Kinseever's production fell 6% from the same period last year due to a decrease in reliance on high-cost, high-grade third-party ores, and increased mining and supply at the Sokoroshe II mine. Furthermore, for the first time, the report included Khoemacau's production data, which contributed 1,075 tons of production over a period of nine days starting March 23.
Total zinc production was 592,000 tons, up 93% from the same period in 2023, when Dugald River stopped production for 34 days after the fatal incident, while Rosebery's production was affected by bushfires and insufficient labor supply.