Queensland copper producer CuDeco Limited announced another recent milestone with July’s concentrate shipment departing the Port of Townsville for China.
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The shipment left August 1 with 8,620 WMT (draft survey tonnage) loaded to the Vessel MV Rook for transport to China.
This represents the largest single shipment of copper to date and is yet another rolling record as the Rocklands operation moves closer to steady-state nameplate production.
Moisture content of the concentrate is estimated at 9.6%, resulting in 7,792 DMT of concentrate at an average grade of 26.17% Cu and 2.97g/t Au, containing circa 2,039 tonnes of copper and circa 744 ounces of gold.
Based on spot pricing, the gross value of contained metal in this shipment is circa $17.4 million dollars, providing a robust start to the 2018 Financial Year.
CEO Mark Gregory said the shipment met the specification of the buyer, and with concentrate copper grades in the forecast range of 25-30%, also maximised efficiencies.
“Lower concentrate grades increase net costs per tonne of copper metal shipped and reduce revenue payable.,” he said.
“This shipment is getting pretty close to achieving the optimal economic outcome, and represents a very solid start to the new financial year,” he said.
Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
