Sepon copper, gold on track to meet targets
Sepon copper, gold on track to meet targets
Production at MMG LXML Sepon remains on track for 2012, according to a report on third quarter performance from the mine's majority owner, MMG Limited.
For the three months ending September 30, 2012, Sepon continued to deliver a strong performance, producing 21,427 tonnes of copper cathode.
“Sepon's copper output was above nameplate capacity for the second quarter in a row,” said General Manager Sepon, Rick Watsford.
The annual production guidance for 2012 has been revised upwards from 78,000-82,000 tonnes to 80,000-84,000 tonnes of copper cathode.
Gold production was down by 34 percent compared to the previous quarter, with 11,988 ounces of gold doré produced, as availability of higher grade ore declined. Despite this, increased throughput and the use of higher grade ore earlier in the year have resulted in an increase to annual production guidance from 60,000-65,000 to 68,000-72,000 ounces of gold.
Based on current reserves the oxide gold ore will be exhausted in 2013. However, extensional exploration is being undertaken with the aim of extending the oxide gold treatment. In addition, options for processing primary gold ore are being assessed.
MMG Limited was previously known as Minmetals Resources Limited, with the name change becoming effective on September 6, 2012.
MMG Limited is a mid-tier global resources company which explores, develops and mines base metal deposits around the world. The company is headquartered in Melbourne, Australia, and listed on the Hong Kong Stock Exchange (HKEx Stock Code: 1208).
vientiane times
