Thompson Creek battles lower production
29th Jun 2012
JUNE 29 – US-based miner Thompson Creek Metals is facing production reverses in Q2 2012 from a pit wall failure at its giant Thompson Creek molybdenum mine in Idaho and below-budget performance at the Endako mine in British Columbia, Canada.
The company says a previously reported wall slough blamed on seasonal run-off at the Thompson Creek Mine is expected to reduce Q2 production to about 2.5Mlb compared to Q1’s 3.4Mlb. Cash costs of production will also be impacted.
A revised plan to mine higher grade ore in H2 should enable it to maintain full year production at 16Mlb.
At the Endako mine (Thompson Creek 75%, Sojiko Corporation of Japan 25%), external experts have been called in to address the failure of the new mill facility to meet design specifications and the below budget ore grade during the June quarter.
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