JOHANNESBURG (miningweekly.com) – ASX-listed Australia-based miner Western Areas’ mine production for the June quarter has exceeded its financial year guidance of 27 000 t by producing 27 607 t of nickel.
The increase was driven by record yearly production for the Spotted Quoll mine, in the Forrestania region. Mill production was similarly strong, setting a new full-year record, with the June quarter the best for the year, despite a five-day shutdown associated with Western Power grid upgrades.
The company has also progressed a range of organic growth initiatives in line with previously outlined objectives at its Cosmos and Western Gawler projects.
On the corporate front, a A$75-million capital raising through a combined placement was completed to strengthen the balance sheet, enabling the company to remain debt-free and have the flexibility to fund responsible growth capital.
Western Areas MD and CEO Dan Lougher said on Thursday that despite a challenging nickel price environment, the company’s operations remained resilient, with positive operating cashflow and a workforce continuing to drive innovation and productivity improvements across the business.
Edited by: Mariaan Webb
Creamer Media Senior Deputy Editor Online
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