Canada-based Capstone Mining produced 47.8mn lbs of copper in Q1 ending March, up by 35pc from the prior-year quarter. Copper sales in the period surged by 62pc to 49.2mn lbs.
Production in Pinto Valley was up by 36pc to 36.4mn lbs from the prior year quarter. Cozamin’s production was 11.4mn lbs, up 31pc.
Consolidated production rose on PV3 Optimization Phase 1 projects and one-way ramp-up in production at Cozamin. Production rise at both mines was a result of higher throughput, better grades, and recovery.
Revenue in Q1 was at $204.1mn, up almost 190pc from the prior-year quarter. Net income in Q1 was $127mn, compared to a net loss of $21.9mn in same period last year.
Capstone Mining has two producing mines, Pinto Valley copper at Arizona and Cozamin copper-silver mine in Zacatecas State, Mexico.