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MMG Kinsevere builds on record performance during third quarter

16 Oct 2014 03:00 PMMedia Release

An ongoing focus on sustainably increasing mill throughput enabled MMG Kinsevere to build on recent performance records during the third quarter.

Kinsevere produced 17,177 tonnes of copper cathode during the quarter to set new quarterly and year-to-date production and sales records. Year-to-date, Kinsevere has produced 50,727 tonnes of copper cathode – 11% more than during the same period in 2013.

The results were driven by higher sustainable mill throughput with 22% more ore processed when compared to the previous quarter.  Average grade was 3.7%, highlighting the quality and consistency of the Kinsevere ore body.

Kinsevere General Manager Miles Naude said that MMG expected to produce 63,000 – 68,000 tonnes of copper cathode at the operation in 2014.

“A strong performance year-to-date has positioned Kinsevere well to achieve its 2014 production guidance.”

Mr Naude said that the operation also further reduced its reliance on higher cost diesel generated electricity during the quarter.

“Working with local and neighbouring country power providers has led to improvements in the availability of lower cost grid sourced power.

“As a result, electricity sourced via diesel generation accounted for approximately 28% of power requirements during the third quarter, down from approximately 40% during the first half of 2014.

“We will continue to work closely with energy providers to further improve the availability of grid-sourced electricity.”

Exploration

In accordance with its growth strategy, MMG continued to progress exploration on its newly acquired tenements within a 50 kilometre radius of Kinsevere.

MMG is a global resources company which explores, develops and mines base metals deposits around the world. It is one of the world’s largest producers of zinc and also produces a significant amount of copper and lead.

MMG acquired the world-class Kinsevere copper mine, located in Katanga Province, in 2012.

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