LONDON (Alliance News) - Copper and gold producer Rambler Metals & Mining PLC said on Wednesday it achieved a rise in production in the third quarter of 2018, particularly in copper through an increased focus on resolving production bottlenecks.
For the three months to the end of September, Rambler produced 4,478 dry metric tonnes of concentrate at the Ming gold-copper mine in Canada, up from 3,614 dry tonnes for the same period the year before and 3,643 dry tonnes the prior quarter.
Copper production in saleable dry metric tonnes rose by 26% year on-year to 1,266 tonnes from 1,004, and 29% quarter-on-quarter from 978 tonnes. Gold production in saleable ounces grew by 10% to 1,020 ounces from 930 ounces the year before, but dropped by 15% from 1,199 ounces the prior quarter.
Average grades in copper rose to 29.4% from 28.9% a year before and 28.0% in the second quarter. However gold grades fell by 10% year-on-year to 8.09 grams per tonne from 9.00 grammes, and down 25% from 11.24 grammes in the second quarter.
"As noted in June, the company commenced a productivity improvement initiative in the mine, with assistance from a third-party consultant, aimed at resolving mine production bottlenecks and increasing mill feed. The twenty-four week initiative is focused on productivity and efficiency improvements in three main areas: mine planning, mine operations and mine mobile equipment maintenance," said Chief Executive Officer Norman Williams.
"As the company continues embedding change at the operations, productivity improvements are anticipated to support achievement of sustained production targets," Williams added.
Shares in Rambler were untraded on Wednesday at 3.05 pence.
