Canada’s Copper Mountain Mining produced 51mn lbs (23,151mt) of copper in H1 2021 and has lifted its output guidance range by 5mn lbs.
The company now expects its annual production range of the red metal to be between 90-100 mn lbs compared with 85-95mn lbs forecasted this April, according to its earnings release on Jul 26. Copper Mountain’s Ball Mill 3 ramp-up is on schedule and is expected to increase ore throughput to 45,000mt per day as against 40,000mt.
The miner’s copper production climbed by 44pc from January-June 2021 compared to 35,564mn lbs during the same period last year. Output was also 41pc higher at 25.5mn lbs in Q2 2021 versus 18mn lbs during the same quarter last year.
The company’s sales of the red metal increased by 34pc in H1 2021 to 49.2mn lbs from 36.7mn lbs. Copper sales for Q2 2021 stood at 21.7mn lbs, a 15pc rise from 18.9mn lbs during the prior year quarter.