Tiger smashes production records at Kipoi

Tiger Resources Ltd said it produced a record 4,422t of copper concentrate in June from its Kipoi copper mine in the Democratic Republic of the Congo.
The output is 47% above the plant’s nameplate capacity and 10% higher than the previous monthly record of 4,007t achieved in March, Tiger said.

Tiger managing director Brad Marwood said: “As we proceed deeper into the Kipoi Central deposit the rock becomes stronger with higher contained copper content. We find increasing production performance with better recovery, better concentrate grades, and lower costs.”

The Australian-listed company said it also broke its quarterly production record with output for the three months to June 30 totalling 11,116t.
Last month, Tiger upped its annual production guidance for 2013 from 37,000t to between 41,000t and 43,000t.
Tiger said it expected the higher production to be sustained in 2014 following upgrades to the Kipoi’s processing plant, which increased materials handling and improved separation of concentrate from waste rock.

The company said operating costs should also be reduced for the remainder of the year as it has increased waste mining to maintain production.
Last month it forecast average operating cash costs of US$0.48/Ib.
Tiger’s shares closed more than 2% up in Sydney today (July 3) at A$0.19/share (US$0.17/share).

 

Check Also

Siloed Approach to World’s Environmental and Social Challenges Risks Achievement of UN’s SDGs

According to Barrick Gold Corporation President and Chief Executive Mark Bristow, the achievement of the …