Mercuria eyes equity in African assets, new metals boss says
“You will see us very present in Africa and putting our money where our mouth is in respect of the Copperbelt,” Kostas Bintas said.
Lundin Mining announced on Monday the return to full production rates at its Chapada copper and gold mine in northern Brazil.
The company withdrew its 2020 production, cash cost and capital expenditure guidance for Chapada in September, after a power outage caused damage to all four of the operation’s SAG and ball mill motors.
“Return to full processing capacity was achieved following the installation of the remaining repaired motor on the ball mill on December 20, 2020,” Lundin said in a press release.
“The processing plant achieved approximately 35% of nameplate capacity while operating only the SAG mill and throughput further improved mid-November with the installation of a single motor on the ball mill.”
Production of both copper and gold have already achieved the lower bound of the 2020 guidance range of 45,000-50,000 t of copper and 80,000-85,000 oz of gold from the mine.
“Chapada is well-positioned to deliver 2021 guidance having used the opportunity to accelerate maintenance, build run of mine ore stockpile and advance waste removal and development activities,” Lundin said.
Midday Monday, Lundin’s stock was up 0.3% on the TSE. The company has a C$7.6 billion market capitalization.
