Mining News: Northern Neighbors: Higher grade ore is boosting copper output at Minto Mine

Capstone Mining Corp. July 26 reported that strong mill throughput and recoveries resulted in better than planned second-quarter copper production at its Minto Mine in the Yukon Territory. Mining continues to advance in the Minto North pit, with higher than 2 percent copper grades reaching the mill by early June, resulting in significantly higher production planned for the second half of the year. Capstone’s 2016 guidance to produce 108,000 metric tons of copper from its Pinto Valley, Cozamin and Minto mines remains unchanged. However, the production distribution by mine is expected to be different than originally guided, with outperformance at Pinto Valley and Minto expected to make up for an anticipated shortfall at Cozamin for the year. “Improved mill reliability and consistency at Pinto Valley has demonstrated its upside potential, and Minto is set up to access the high grades at Minto North, positioning us well for strong second half performance,” explained Capstone President and CEO Darren Pylot. The Minto Mine is now expected to produce 28,000 metric tons of copper this year. This Yukon operation produced 6,093 metric tons of copper in concentrates during the second quarter at a C1 cash cost of US$1.70 per pound of payable copper produced. Capstone’s three mines produced 27,200 metric tons of payable copper at a C1 cash cost of US$1.51/lb.

-Shane Lasley