By Robb M. Stewart
Centerra Gold said Monday it now expects gold production this year will be near the low end of its target, while copper output is tracking toward the mid-point of its forecast following lower-than-planned production in the first quarter.
On production:
The Toronto-based mining company said its Mount Milligan mine in British Columbia produced 33,215 ounces of gold and 13.4 million pounds of copper in the first three months of the year, as a result of lower plant throughput caused by a planned mill maintenance shutdown as well as material handling issues during the winter months.
Centerra said sequencing of mining phases during the quarter also resulted in lower-than-expected ore grades and differences in the ore-waste transition zone that impacted feed grades and metal recoveries.
In February, the company said it was targeting total gold output of 160,000 to 170,000 ounces and copper production of 60 million to 70 million pounds for 2023. Mount Milligan produced 189,000 ounces of gold and 74 million pounds of copper in 2022.
Write to Robb M. Stewart at [email protected]
Read the full article here