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OZ Minerals boosts Q3 copper, gold output YOY

OZ Minerals Ltd.'s third-quarter production totaled 31,919 tonnes of copper and 36,601 ounces of gold, improving from the year-ago output of 28,880 tonnes of copper and 29,264 ounces of gold.

The company's Prominent Hill mine in South Australia produced 28,915 tonnes of copper and 34,143 ounces of gold in the reporting quarter, according to an Oct. 17 release.

The third-quarter operational results take into account Antas' gold and copper production. In July, OZ Minerals completed the acquisition of Avanco Resources Ltd., which owns the Antas copper-gold mine in Brazil.

The C1 cash costs in the quarter totaled 82.2 U.S. cents per pound.

Shipments of concentrates totaled 66,009 dry tonnes in the quarter, containing 26,314 tonnes of copper, 31,657 ounces of gold, and 157,503 ounces of silver.

This compares with concentrate shipments of 63,720 dry tonnes, containing 30,008 tonnes of copper, 29,893 ounces of gold and 205,895 ounces of silver, in the year-ago quarter.

OZ Minerals is on track to meet the top-end of its full-year copper production forecast for Prominent Hill of between 100,000 and 110,000 tonnes.

The company maintained its fiscal 2018 gold production guidance at between 120,000 to 130,000 ounces, while full-year C1 cash costs are expected to range between 75 cents to 85 cents per pound.