South 32 reports copper equivalent production decreased by 13%

South 32 Production Summary reports Sierra Gorda payable copper equivalent production decreased by 13% (or 8.6kt) to 55.4kt in the nine months ended March 2024 as higher plant throughput delivered by the de-bottlenecking project (annualised rate of 48.6Mtpa, 100% basis), was more than offset by lower planned copper grades, and lower molybdenum recoveries in the current  phase of the mine plan.

FY24 production guidance remains unchanged at 78.7kt payable copper equivalent (copper 67.0kt, molybdenum 0.8kt, gold 22.5koz and silver 550koz), with higher copper grades expected in the June 2024 quarter, consistent with the mine plan.

Sierra Gorda progressed the feasibility study for the fourth grinding line expansion, which is expected to deliver an increase in plant throughput to approximately 58Mtpa (100% basis). The feasibility study and a final investment decision by the joint venture partners is now expected in H1 FY25.