Phu Bia Mining Reports Excellent Start To 2019 | Lao Tribune

Phu Bia Mining Reports Excellent Start To 2019

(KPL) Phu Bia Mining has recorded strong results across all key business metrics during its March quarter 2019.

The Phu Kham Copper-Gold Operation produced 19,820 tonnes (t) of copper in concentrate at a C1 cost of US$1.14/lb after precious metal credits from 19,403 ounces (oz) of gold and 115,792 oz silver.

An all-in sustaining cost (AISC) of US$1.50/lb was also achieved. The Ban Houayxai Gold-Silver Operation produced 33,120 oz gold and 253,631 oz silver during the three months to 30 March 2019.

A C1 cost of US$504/oz after silver credits and an AISC of US$644/oz gold were achieved at the Operation. In addition to the strong production and cost outcomes, during the quarter, Phu Bia Mining’s parent company PanAust also recorded its lowest Group total recordable injury frequency rate (TRIFR) since records commenced in 2008.

The 12-month rolling TRIFR as at 30 March 2019 was 0.22; significantly lower than the International Council of Mining and Metals average TRIFR of 3.94.

Phu Bia Mining Chairman, Mr Chanpheng Bounnaphol said the first quarter’s strong results are underpinned by the company’s continued commitment to improve production, safety and costs. During 2019, our focus will remain on embracing safety as a core value, improving workforce safety behaviours, and on visible safety leadership. With such a strong start to 2019, Phu Bia Mining will look to replicate and improve on this quarter’s outcomes throughout the year, Mr Chanpheng said.

Source: Lao News Agency