Q2 2020 copper production was a new record of 13,635 tonnes,
representing a 25% increase over the equivalent quarter of 2019 and
above Q1 2020.
A total of 3.6 million tonnes of ore were processed with an average
copper head grade of 0.44% and a recovery rate of 85.89%.
In comparison with the same quarter of 2019, throughput increased 39%
while recovery decreased 3%.
Compared with Q1 2020, copper production increased 3% as a result of a
6% higher throughput and lower grades being compensated for by higher
recoveries.
Plant recoveries increased as a result of operational improvements to
the fully commissioned plant despite scheduled maintenance and mandatory
COVID-19 shutdowns during the quarter.
As reported on 30 March 2020, operations at Proyecto Riotinto halted for
five days following the Royal Decree issued by the Spanish government to
increase the national protective measures against COVID-19, affecting
tonnage processed during April 2020 and resulting in lower ore milled
than planned during Q2 2020.
Mining operations continued concentrating on mining ore from the higher
levels of the mine. On a combined basis, ore, waste and marginal ore
amounted to 3.2 million m3 in Q2 2020 versus 2.9 million m3 in Q1 2020.
On-site concentrate inventories at the end of the quarter were
approximately 3,845 tonnes.
Copper prices decreased during Q2 2020 compared with Q1 2020, with an
average realised price per pound of copper payable, including the QPs
closed in the period, of $2.51/lb compared with $2.58/lb in Q1 2020. The
average copper spot price during the quarter was $2.42/lb. The realised
price during the quarter, excluding QPs, was approximately $2.43/lb.
Cash operating costs for Q2 2020 are expected to be within the lower end
of the range of the annual AISC guidance of US$2.20-US$2.30/lb. Further
details on costs will be provided with the Q2 Financial Statements to be
reported in August 2020.
|
Unit |
Q2 2020 |
Q2 2019 |
Q1 2020 |
Full year 2020 Guidance |
Ore mined |
(M tonnes) |
3.2 |
2.8 |
3 |
15 |
Waste mined |
(M tonnes) |
5.7 |
3.6 |
5.1 |
22.7 |
Ore milled |
(M tonnes) |
3.6 |
2.6 |
3.4 |
14.0 – 15.0 |
Cu grade |
(%) |
0,44 |
0.48 |
0,47 |
0.45 |
Cu recovery |
(%) |
85.89 |
88.72 |
82.62 |
84 – 86 |
Cu production |
(tonnes) |
13635 |
10888 |
13229 |
55,000 – 58,000 |
Source:
Atalaya Mining |