Alphamin raises full-year production guidance
JSE-listed Alphamin Resources’ contained tin production for the third quarter was 5 190 t, up 26% from the previous quarter’s 4 106 t, the company points out in an operational update for the period.
The comparative quarter, ended June, was impacted on by the temporary cessation of operations related to security concerns and the phased restart from April 15.
The company says that, throughout the third quarter, processing facilities continued to perform well, with overall plant recoveries averaging 76% during the quarter, almost on par with the previous quarter’s 77%.
Alphamin expects to produce about 5 000 t of contained tin during the final quarter of the financial year.
Together with the production of 13 566 t for the nine months ended September 30, full-year production will be higher than the initially guided 17 500 t.
Alphamin has, therefore, raised its full-year production guidance to between 18 000 t and 18 500 t.
Meanwhile, contained tin sales increased by 12% quarter-on-quarter to 5 143 t for the third quarter.
The company reports that there has been an increase in the number of security events on the border between the Massisi and Walikale territories in the North Kivu province of the Democratic Republic of Congo.
Its mine is located in a remote area about 200 km away from these events and at this time, the company continues to operate within guidance parameters.
However, as a result of the ongoing security risks in the area, the operating risk profile remains elevated and a sustained advance closer to the mine location could result in mining operations being affected, Alphamin warns.
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