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MMG Kinsevere delivers standout production during first half 2015

MMG Limited released its second quarter 2015 production results today, with Kinsevere delivering standout copper cathode production during the first half of the year.

Kinsevere produced a further 19,053 tonnes of copper cathode during the second quarter, contributing to total first half production of 39,095 tonnes – 17% higher than during first half of 2014.

Kinsevere General Manager Miles Naude said that the operation’s continued standout performance was due to its ongoing asset utilisation program.

“Our second quarter performance was driven by a 26% increase in mill throughput, which helped to offset lower grades as we progress through the Kinsevere mine plan.

“We have been able to further sustainably increase mill throughput at Kinsevere due to the ongoing success of our asset utilisation program, which has led to current efficiency, power usage and other improvements.

“Critically, these operational improvements have been achieved and sustained without capital expenditure and we continue to perform well above nameplate capacity of 60,000 tonnes per annum.”

Kinsevere mined 29% less ore during the first half 2015 compared to the first half 2014 as it drew down on stockpiles built up during the operation’s ramp up. Under the mine plan, mining rates will return to normal rates in 2016.

Given its first half performance, MMG has increased copper production guidance for Kinsevere by 3,000 tonnes. MMG now expects to produce 70,000 – 75,000 tonnes of copper cathode at Kinsevere in 2015.

During the first half of 2015, Kinsevere sourced approximately 29% of its power requirements from diesel-generated electricity – down from 40% during the same period in 2014.

MMG commenced its 2015 field exploration program during the second quarter, with progress made on exploration tenements within a 50 kilometre radius of Kinsevere’s current operations. Drilling and further field activity was also undertaken on a copper target within the region.