Equinox announces 37% rise in copper production

Equinox announces 37% rise in copper production
By Mutale Kapekele
Fri 09 Apr. 2010, 04:00 CAT

Equinox Minerals, the holding company of Lumwana Mine has announced a 37 per cent increase in copper production in the first quarter of this year as compared to the same period in 2009.

In a statement released by Equinox Vice President Kevin van Niekerk yesterday, Lumwana Mine is said to have improved its production and mined material by 70 per cent in preliminary production.

“Production for Q1-2010 totalled 30,471 tonnes (67 M lbs) of copper in concentrate, a 37 per cent increase when compared with the corresponding 2009 period,” Niekerk stated.

“The Company also reported significant improvements in every area of production relative to Q1-2009 with both total material mined and ore mined improving by about 70 per cent.”

He stated that Equinox was pleased with the result as they were achieved at the time when the country was experiencing heavy rains.

“Following on from the steady production growth through 2009, the Q1-2010 results are particularly pleasing as they were achieved during the wettest part of the year, reflecting a solid continuation of mine and mill ramp up at Lumwana,” he stated.

“These results establish a sound base for Equinox to meet its full year 2010 guidance of 135,000 tonnes (300 Mlbs) of copper.”

Equinox president and chief executive officer Craig Williams stated that the first quarter results were “solid for the team, reflecting the continuation of ramp up and placing us on track to deliver production targets for 2010 of 135,000 tonnes of copper in concentrate."