South America region
Peru
Cerro Corona
|
|
|
Sept
2012 |
|
June
2012 |
|
|
Gold produced |
- 000’oz |
41.3 |
|
39.8 |
|
|
Copper produced |
- tonnes |
8,868 |
|
9,234 |
|
|
Total equivalent gold |
- 000’ eqoz |
82.7 |
|
84.9 |
|
|
Total equivalent gold sold |
- 000’ eqoz |
82.7 |
|
81.2 |
|
|
Yield - gold |
- g/t |
0.8 |
|
0.8 |
|
|
- copper |
- % |
0.6 |
|
0.6 |
|
|
- combined |
- g/t |
1.6 |
|
1.6 |
|
|
Total cash cost |
- US$/eqoz |
474 |
|
482 |
|
|
Notional cash expenditure |
- US$/eqoz |
829 |
|
708 |
|
|
NCE margin |
- % |
52 |
|
48 |
|
|
Gold price * |
- US$/oz |
1,636 |
|
1,617 |
|
|
Copper price * |
- US$/t |
7,648 |
|
7,956 |
|
* Average daily spot price for the period used to calculate
total equivalent gold ounces produced.
Gold produced increased from 39,800 ounces in the June
quarter to 41,300 ounces in the September quarter. Copper
production decreased from 9,234 tonnes to 8,868 tonnes.
Equivalent gold produced decreased by 3 per cent from
84,900 ounces in the June quarter to 82,700 ounces in the
September quarter. This decrease was as a result of less
tonnes milled during the September quarter, due to the harder
material processed in the September quarter and the lower
copper price relative to the gold price (price factor) during the
quarter. The September quarter price factor was 4.67
compared with 4.92 in the June quarter.
Concentrate with a payable content of 42,090 ounces of gold
was sold at an average price of US$1,644 per ounce and
8,760 tonnes of copper was sold at an average price of
US$7,045 per tonne, net of treatment and refining charges.
Total equivalent gold sales amounted to 82,700 ounces for the September quarter, compared with 81,200 ounces in the
June quarter.
Tonnes mined increased from 4.10 million tonnes in the June
quarter to 4.37 million tonnes in the September quarter due to
changes in the mine schedule. Ore mined increased by 8 per
cent from 2.03 million tonnes to 2.19 million tonnes. Gold and
copper yields were similar to the June quarter at 0.8 grams
per tonne and 0.6 per cent respectively.
Ore processed decreased from 1.67 million tonnes to 1.57
million tonnes. Gold head grade increased from 1.13 grams
per tonne to 1.26 grams per tonne and gold recovery
decreased from 68.4 per cent to 67.9 per cent. Copper head
grade remained constant at 0.68 per cent, with copper
recovery increasing from 84.7 per cent to 86.1 per cent.
Operating costs, including gold-in-process movements,
increased from US$35 million (R282 million) in the June
quarter to US$37 million (R302 million) in the September
quarter, mainly due to an increase in tonnes mined, repairs at
the process plant and an increase in statutory workers
participation in profits. Total cash cost decreased from
US$482 per equivalent ounce to US$474 per equivalent
ounce mainly due to the increase in ounces sold during
September quarter.
Operating profit increased from US$76 million (R615 million)
in the June quarter to US$107 million (R881 million) in the
September quarter, mainly as a result of higher revenue due
to price adjustments resulting from higher forward metal
prices.
Capital expenditure increased from US$21 million (R165
million) in the June quarter to US$25 million (R206 million) in
the September quarter. The higher expenditure was due to
on-going construction activities at the tailings facility.
Notional cash expenditure increased from US$708 per
equivalent ounce in the June quarter to US$829 per
equivalent ounce in the September quarter. This increase was
attributable to higher operating costs and capital expenditure
as well as lower equivalent ounces produced. The NCE
margin increased from 48 per cent in the June quarter to 52
per cent in the September quarter due to the higher gold price
partly offset by the higher NCE in the September quarter.
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