Production at First Quantum’s Kansanshi mine in Zambia will this year be at the lower end of the guidance.
After a difficult beginning to the year, First Quantum Minerals made substantial progress during the second quarter.
This momentum has paved the way for the corporation to meet its 2023 production goals, albeit at the bottom of its guidance range.
It said production at Kansanshi is anticipated to be at the lower end of the forecast range of 130 000 t to 150 000 t for copper and 95 000 oz to 105 000 ounces (oz) for gold.
Second quarter copper production at Kansanshi increased by 5,974 tonnes from the previous quarter to 34,657 tonnes while that of gold was 16,346 oz.
First Quantum said changes in mining fleet deployment over the previous six months have allowed the operation to open up mining areas and rely less on low-grade ore reserves.
Meanwhile, the total amount of copper that was produced in the second quarter from the company’s three operations was 187 175 tonnes (t), which is a rise of 35% compared to the output in the first quarter.
The quarterly output rise was related to an improvement in grades at Cobre Panamá in Panama, Kansanshi, and Sentinel in Zambia, as well as an increase in throughput at Cobre Panamá and Sentinel.
"During the second quarter, Sentinel reached its greatest monthly production of the year in May, while Cobre Panama and Kansanshi accomplished the same feat in June," said company chief Tristan Pascall.
First Quantum’s overall output forecast of 350 000 t to 380 000 t of copper and 140 000 oz to 160 000 oz of gold remains unchanged.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
