Trevali has raised its 2021 guidance for zinc and lead to 330-360mn lbs and 45-50mn lbs, respectively, which is higher than actual levels reported in FY2020.
The base metal mining company, headquartered in Canada, reported its FY2020 preliminary production levels with zinc and lead down from the previous year, but levels in Q4 have improved relative to prior year. In 2020, zinc production was down 25pc to 313mn lbs while lead production was down 40pc to 30mn lbs compared to the previous year.
In Q4 2020, zinc production was at 104.8mn lbs, up 42pc from a year ago and lead was up 53pc from the prior year to 13mn lbs.
The company has decided to restart the Caribou operations which will lead to higher costs in H1 2021 cond half. Focus will be on exploration activities to extend mine lives of Perkoa, Rosh Pinah and Santander after being largely suspended in 2020.
Trevali, in a statement, said they are well positioned for the positive upside in zinc market. Despite the several challenges in 2020, the year ended at a solid footing according to Ricus Grimbeek, President and CEO of Trevali.