Kansanshi Copper Output Up By 12 Per Cent.

FIRST Quantum Minerals (FQM) recorded 12 per cent increase in copper production in 2012 second quarter due to higher sulphide ore grades processed at Kansanshi Mine and higher set from the expansion of oxide circuit.

According to the FQM report on operational and financial results for the three and six-month periods ended June 30, 2012, total production for the last quarter rose to 71,543 tonnes from 64, 587 tonnes recorded for the same period in 2011.

The overall copper production was 11 per cent higher than the second quarter in 2011 on increased throughput and grade.

In the period under review the sales revenue increased to US$722.3 million from US$ 660.0 million as a result of nickel revenue from Ravensthorpe, higher copper and gold sales volumes, offset partially by the impact of lower copper prices.

The on-going mine pit development work at Kansanshi increased the availability of sulphide ore and allowed for the reconfiguration of sulphide and mixed circuits in May 2012.

Commenting on the results, FQM president, Clive Newall, said the circuit capacity for suphide and mixed ore treatment was now approximately 12 tonnes per and 6.5 tonnes per annum respectively.

Sulphide ore grade processed improved significantly from quarter two in 2011 due to the exposure of additional sulphide ore faces at target grades.

Mr Newall said in the second quarter of 2012, the temporary interchanged sulphide and mixed circuits had offsetting variances in the throughput in comparison to the second quarter of 2011.