NEW YORK Capstone Mining Corp.s copper concentrate production fell 11.8 percent in the second quarter compared with the same year-ago period, according to the company.
The Vancouver, British Columbia-based company produced a total of 19.32 million pounds of copper in the three months ended June 30 at its two minesthe Cozamin copper-silver-zinc-lead mine in Mexicos central state of Zacatecas and the Minto copper-gold-silver mine in Canadas Yukon territoryat a cash cost of $1.70 per pound. In the second quarter of 2012, the company produced 21.91 million pounds of copper at a cash cost of $1.36 per pound.
Despite the drop, both mining operations broke mill throughput records, Capstone president and chief executive officer Darren Pylot said in a statement July 11.
"At Cozamin, we were able to completely make up for the first-quarter production shortfall and ended the quarter with production back on plan," he said. "At Minto, year-to-date production is on plan, and we are adding resources to ensure we catch up mining from the pit wall failure that occurred in the fourth quarter of 2012."
The company had slowed production to reinforce the pit wall (amm.com, Oct. 11).
Minto produced 7.2 million pounds of copper concentrate in the second quarter compared with 9.77 million pounds a year earlier, while Cozamins production dipped slightly to 12.12 million pounds from 12.14 million pounds in the same comparison.