Peru's Condestable raises 2006 copper concentrate output 13%
Source: BNamericas
metalsplace.com
Peruvian copper miner Condestable posted net income of 22.1mn soles (US$6.92mn) in 2006 versus 11.8mn soles in 2005, thanks to 13% higher output, Condestable reported in a statement to the Lima stock exchange.
However, the copper miner earned just 1.42mn soles in profits during the last quarter of 2006 compared to 4.75mn soles year-on-year.
Total revenues came to 95.6mn soles in the fourth quarter and to 370mn soles for all of 2006 compared to 66.1mn soles in 4Q05 and 183mn soles in 2005.
Operational costs rose to 29.0mn soles in 4Q06 versus 24.5mn soles, and to 98.6mn soles from 76.5mn soles.
Production
Condestable increased its ore treatment rate by 14% to 4,110t/d in 2006 from 3,616t/d the year before, ramping up copper concentrate output by 13% to 69,082t in 2006 from 60,912t the previous year.
In refined red metal output, Condestable churned out 17,958t last year versus 15,922t, as the company increased recovery rates to 90.2% in 2006 form 89.2% in 2005.
Condestable also produced 161,218oz of fine silver in 2006, up 5.68%, the statement said.
Lastly, the company churned out 21.7% more gold last year at 13,825oz.
Condestable operates the Mala mine in central Peru's Lima department, where an expansion is underway to lift throughput to 5,500t/d by 2008. |
