A CAT hauling truck at the Phu Kham Copper-Gold Operation
(KPL) Phu Bia Mining (PBM) has reported excellent financial, production and safety outcomes for 2016.
The Phu Kham Copper-Gold Operation produced 22,571 tonnes of copper in concentrate in the fourth quarter, not only its best ever result, but also contributing to a full year’s production of 89,187 t; a 12 per cent increase from 2015 production.
The company also produced 20,353 ounces (oz) of gold and 141,733 oz of silver in the year’s final quarter, to bring full year production to 89,657 oz of gold and 535,198 oz of silver.
The C1 cash cost of US$1.11/lb and all-in sustaining cost (AISC) of US$1.63/lb also improved over the year.
At the Ban Houayxai Gold-Silver Operation, production records of 26,735 ounces of gold and 206,614 ounces of silver were achieved in the December quarter with full year production totaling 127,825 oz of gold, up by 6 per cent from 2015, and 1,101,393 oz of silver. Higher ore grades combined with an increase of ore mined and processed were the basis for these improvements.
Favourable C1 costs of US$455/oz gold and AISC costs of US$694/oz excelled past projected results for the year.
In addition to these strong production outcomes, the company also witnessed improvements to safety performance by achieving an exceptional 21 months without a lost time injury (LTI) at the Phu Kham Operation.
Phu Bia Mining Chairman Mr Chanpheng Bounnaphol said that the company delivered its strongest ever annual production and operating cost results.
He also stated that “2016 was another year of milestones and excellent results for Phu Bia Mining. “We have aligned our ability to deliver exceptional safety, production and cost outcomes year-on-year.”
Despite the backdrop of ongoing commodity price volatility in 2016, Phu Bia Mining was able to achieve excellent production results, exceeding targets for the previous year.
Looking ahead to 2017, the company expects to raise its targets for safety, production and cost-efficiency over the year to come.