Business
Capstone Mining 2013 First Quarter Production Results
First quarter production of 18.6 million pounds of copper in concentrates VANCOUVER, Apri...
About this update from Capstone Copper Corp.
[{"type":"text","content":"\n\n\n\n\n\nFirst quarter production of 18.6 million pounds of copper in\n concentrates\n\n\nVANCOUVER, April 11, 2013 /CNW/ - Capstone Mining Corp. (\"Capstone\")\n (TSX: CS) today announced its operating results for the three months\n ended March 31, 2013 of its two operating mines, Cozamin and Minto.\n Combined production totalled 18.6 million pounds of copper in\n concentrates, with additional by-products of zinc, silver, gold and\n lead.\n\n\n\n\n\n\n\nQ1 2013 Production\n\n\n\n\n \n\n\nCopper in concentrates\n(thousands of pounds)\n\n\nCash cost(1)\n(US$/pound)\n\n\n\n\nCozamin\n\n\n10,142\n\n\n$1.06\n\n\n\n\nMinto\n\n\n  8,444\n\n\n$2.50\n\n\n\n\nTotal\n\n\n18,586\n\n\n$1.72\n\n\n\n\n\n\n\n\"Both operations ran well during the first quarter,\" said Darren Pylot,\n President and CEO of Capstone. \"At Minto, our first quarter production\n and costs were better than planned as we successfully accommodated the\n pit wall failure that affected the fourth quarter of 2012. At Cozamin,\n we were impacted in February by water shortages; however we quickly\n secured additional water supplies and expect to make up any production\n shortfall in the second quarter.\"\n\n\nOperational Highlights\n\n\n\nProduction of 18.6 million pounds of copper contained in concentrates.\n\n\n\n\nBy-product production of 4.9 million pounds of zinc, 402,272 ounces of\n silver and 937,000 pounds of lead in concentrates. Final gold\n production is not available since assaying is conducted off-site, but\n is estimated at approximately 3,500 ounces for the quarter.\n\n\n\n\nAt Cozamin, production was negatively impacted by the ongoing drought\n conditions in Central Mexico that affected water supplies in February. \n Additional short and long term sources of water were secured, and\n during March the mill operated at throughput rates which are expected\n to have production back on plan by the end of the second quarter.  The\n copper grade was lower than expected because of a delay in mining the\n high grade 11C block. The area required more ground support, but mining\n has resumed in this block.  The zinc and lead grades were higher than\n planned, primarily as a result of mining in alternate zones while\n ground support work was taking place.\n\nDespite the lower production at Cozamin, costs on a per pound basis were\n in line wit...