PERTH (miningweekly.com) – ASX-listed Tiger Resources on Thursday told shareholders that copper cathode production during 2016 was expected to reach between 26 000 t and 28 000 t.
This was compared with the 26 151 t delivered in 2015.
Cash operating costs for the full year were expected to reach between $1.34/lb and $1.42/lb, while all-in sustaining costs were expected to reach between $1.56/lb and $1.65/lb.
“This is a new era for the company and the guidance reflects efforts to streamline the business and cost reduction to achieve the planned activities and production for 2016,” said Tiger interim CEO Mike Griffiths.
Tiger in July last year committed to the debottlenecking of the Kipoi solvent extraction and electrowinning plant, in the Democratic Republic of Congo, to increase the nameplate capacity of the plant from 25 000 t/y to 32 500 t/y.
To date, design works for the tank leach have been completed, and all long-lead items have been ordered, while site works have started for the tank leach and the additional electrowinning cells.
Some $25-million would be spent during 2016 on this project.
Meanwhile, Tiger has also conducted vigorous cost cutting and an efficiency drive, which resulted in site-based personnel being reduced by 38%, while the headcount at the Perth head office was reduced by 33%.
Edited by: Creamer Media Reporter
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