KONKOLA Copper Mines (KCM) PLC has produced 41,958 tonnes of finished copper in the third quarter of the 2009/2010.
The figure includes 13,641 tonnes from purchased concentrates and is significantly higher than the 25,472 tonnes produced in the third quarter of 2008.
This is according to a statement released to the Times by KCM management.
The statement said the increase was due to the successful ramp-up of the new 300,000 capacity Nchanga Smelter which has now been certified under ISO 9001 for quality.
Production from the Tailings Leach plant fell to 7,922 tonnes compared to 11,263 tonnes of the corresponding quarter in 2008.
This was primarily due to reduction in throughput and declined ore grade from the dam suffered in the period and also partially the result of pipe chockages during the labour unrest of November.
Earnings Before Interest, tax, depreciation and amortisation (EBITDA) in the third quarter was US$36 million compared with a loss of $165 million in the same quarter of the previous year.
The increase in profitability was primarily on account of higher copper prices that averaged $6,643 a tonne in the third quarter which was an increase of 69 per cent over the previous term, allied to lower operating costs.
KCM also reported that the Konkola Deep Mining Project (KDMP) was progressing well with cold commissioning of the rock winder for mid-shaft loading, and all milestones have been achieved on time.
It is expected that commissioning of the MSL station will take place at the end of the financial year 2009/2010 and the full project will be completed by the end of 2012.
The company is now focusing on acquiring the ISO 14001 certification for the environment in March this year and OHSAS 18001 for safety in August.
