Namibia: Weatherly delivers first copper cathode in Q1 2016 at Tschudi
Friday, 15 April 2016 18:17
Mining company Weatherly International delivered during the first quarter of 2016, 4,442 tons of copper cathode at its Tschudi mine in Namibia, 4% above the mine’s nameplate production rate of 17 000 t/yr . It achieved this production in December 2015 and studied various options to boost this capacity.
CEO of Weatherly, Craig Thomas who said his firm is pleased with the consistent production performance while adding that fluctuations in Namibian dollar to American dollar exchange rates helped keep production costs lower than expected. During the first quarter, production costs were at 3429$/t below guidance of the $4250/t to $43250 for the year.
Moreover, the firm declared it recorded during the March quarter an average sale price of $4742/t and the second quarter’s production forecast at about 4,250 tons, had been pre-sold to Orion Mine Finance at $4912/t.
Weatherly International has a strong presence in the Namibia’s copper industry. Its portfolio includes asides the Tschudi mine, the Otjihase and Matchless mines.
Louis-Nino Kansoun
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