WINDHOEK: Weatherly International reported a strong increase in copper production during the first quarter of its 2012/2013 fiscal year.
During the company’s fourth quarter, which ran to 30 September 2012, output was 6 499 tonnes of concentrate, up from 5 605 tonnes in the previous three months.
In its quarterly operations’ and production update for the month of September 2012 issued on its website on Friday, Weatherly’s Chief Executive Officer Rod Webster described the production as “very encouraging”.
“Both grades and recoveries have been strong across the quarter, and these levels of production should be improved upon again in the current quarter, with unit costs reducing accordingly.
This will put the company in a strong position in the lead-up to the funding of the Tschudi project,” he was quoted as saying.
Another highlight for the company is that the central operations produced 572 tonnes of copper in concentrate in September this year.
Webster said the Tschudi feasibility is progressing well, with an expected delivery date before the end of the year. The review of the Tschudi feasibility study is continuing, and is seeing positive results from the redesign and optimisation work commenced in the previous quarter.
The company’s Matchless mine also continues to perform well, maintaining targeted production levels during this period.
At the company’s Otjihase mine, new working areas are permitting additional flexibility to the operations, and this is resulting in improved production performance at the mine, added Webster.
Weatherly International also has a 25 per cent stake in an Alternative Investment Market-listed company, China Africa Resources (CAF), which is currently focused on the development of the lead and/or zinc project at Berg Aukas in northern Namibia.