China’s refined copper exports double to record on surplus
Shipments more than doubled to 157,751 tons in June from May, well above the previous all-time high of 102,000 tons in 2012.
First Quantum Minerals of Vancouver has offered an update on progress at the Cobre Panama copper mine as it made 25 tonnes of copper during the first quarter of this year. The project is on track to deliver between 140,000 and 175,000 tonnes in 2019. About 80% of total output will occur in the second half of the year, as the mill ramps up to its annual capacity of 72 million tonnes by the end of this year.
Also at the mine site, First Quantum has completed, and begun commissioning the power plant. In the mill the first train is finished and commissioned with ore. The No.1 and 2 semi-autonomous grinding (SAG) mills are underway as is similar work on three ball mills.
“We are now realizing the benefits of good design and quality assurance in construction. It is especially rewarding to see our plans for environmental management functioning as intended, and the meaningful partnerships we have built with local communities are already playing an integral role in the operation of Cobre Panama,” First Quantum chairman and CEO Philip Pascall said.
First Quantum also has producing mines in Turkey, Mauritania, Zambia, Spain, and Finland. Together these operations produced 145,358 tonnes of copper and 45,929 oz. of gold in Q1 2019. The all-in sustaining cost was $1.72 per lb. of copper and the realized price per pound sold was $2.74.
(This article first appeared in the Canadian Mining Journal)
