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Minto Mine production tops expectations

 

Last updated 7/19/2015 at Noon



Capstone Mining Corp. July 14 said copper production at its Minto Mine continued to exceed expectations during the second quarter and is now projected to top guidance for annual production.

For the quarter ended June 30, Minto produced 4,141 metric tons of copper in concentrate and cathode, nearly identical to first-quarter production.

Capstone said ore from Area 118 underground continued to run significantly above model grades and enhanced mining practices resulted in lower dilution than budgeted.

Further unplanned ore production came from the Area 2 Stage 2 pit above the water storage level.

The Yukon Water Board issued a draft water use license on May 29, and is now in the process of issuing the final license.

While awaiting the license, Capstone continues to process underground and stockpiled ore.

The company's three mines - Minto; Pinto Valley, Arizona; and Cozamin, Mexico - produced 21,100 metric tons of copper during the second quarter.

Capstone's 2015 production guidance of roughly 90,000 metric tons of copper remains unchanged, however the distribution by mine is expected to be different than originally guided, with outperformance at Minto expected to make up most of an anticipated shortfall at Cozamin for the year.

 

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