Phu Bia Mining Company’s Phu Kham Copper-Gold Operation expects to produce and export 90, 000 tonnes of copper in concentrated form this year.
The plan was disclosed by Government Relations Manager Manilath Arounlangsy at the Phu Kham Copper-Gold Operation Office on May 31.
Phu Kham produced 89,187 tonnes of copper, 89,657 ounces (oz) of gold and 535,198 oz of silver last year, said Ms Manilath.
Since 2008, Phu Kham Copper-Gold Operation has been producing copper and precious metals in concentrate, mined from 55 million tonnes of mineral ore per year and producing 18.5 million tonnes of crushed ore per year for export to smelters mainly in China and India.
The Phu Kham Copper-Gold Operation is a considerably large and high-standard plant, which uses modern equipment and technology. It is located in Xaysomboun province, approximately 140 km from Vientiane capital.
Phu Kham is PanAust’s flagship operation and the significant cash flow generated by its operations has supported PanAust’s growth while contributing to a strong balance sheet.
The Phu Kham Copper-Gold Operation has so far produced 22,751 tonnes of copper in concentrate at a cost of US$1.15/lb after precious metal credits from 19,790oz of gold and 139,644oz of silver. An all-in sustaining cost of US$1.63/lb copper was achieved.
Overall copper recovery averaged more than 82 percent for the quarter. Quarterly pay-metals in concentrate sales totalled 18,717t of copper, 16,221oz of gold and 127,332oz of silver.
Annual copper in concentrate production at Phu Kham is expected to peak between 85,000 and 90,000t in 2018 and 2019 before subsequently declining with ore grade. No further development capital is currently expected to maintain these levels. Gold in concentrate is expected to generally range between 70,000oz and 80,000oz per annum.
Ms Manilath added that the Phu Kham Copper-Gold Operation always considers high safety standards and a good work environment an important priority.
Currently, the company has created over 30,000 jobs in the province, and contributed to supporting government and community development, especially in education, health, infrastructure, agriculture and microfinance.
Source: Lao News Agency