Aguas Tenidas Mine
||Spain ( Andalucía Region, Huelva Province) |
||297.51 km 2 total |
||Located in northernmost limb of Iberian Pyrite Belt |
||Volcanogenic Massive Sulphide ("VMS") |
||11 years |
||Copper, Zinc and Lead Concentrates |
2010 Operating Results
(No comparables for the full year 2009, only fourth quarter):
Year ended December 31, 2010
- MATSA processed 1,681,140 tonnes of ores in 2010; 1,173,152 copper and 507,988 polymetallic.
- Produced 88,999 DMT of copper concentrate, 36,196 DMT of zinc concentrate, 6,071 DMT of copper/lead bulk concentrate and 1,179 DMT of lead concentrate. Contained metal production was 20,351 tonnes of copper, 17,323 tonnes of zinc, 229 tonnes of lead and 655,319 oz of silver.
- The Cash Operating Cost was $2.22 per payable pound of copper.
Three months ended December 31, 2010
- MATSA processed 480,786 tonnes of ore in the period versus 360,458 during the fourth quarter of 2009 (increase of 33%).
- Produced 22,295 DMT of copper concentrate (2009 – 20,398 DMT), 15,105 DMT of zinc concentrate (2009 – 2,473 DMT) and 1,179 DMT of lead concentrate (2009 – nil). Contained metal production was 4,933 tonnes of copper (2009 – 5,074 tonnes), 7,209 tonnes of zinc (2009 – 1,218 tonnes), 229 tonnes of lead (2009 – nil) and 151,051 ounces of silver (2009 – 72,141 ounces).
- The Cash Operating Cost was $2.11 per payable pound of copper. Cash Operating Cost in this period began to reflect the impact of the 30% plant expansion as it was positively affected by lower per tonne operating costs and higher production of zinc, lead and silver.
- The primary undertaking for MATSA during 2010 was the project to expand mining and processing plant operations by 30% to allow for an annual operating rate of 2.2Mtpa of processed ores. The expansion was completed at the end of the third quarter of 2010. Major components of the expansion included the purchase of additional mine mobile equipment and acceleration of stope development, and processing circuit expansion, including expansion of both the copper ore and poly-metallic ore circuits to capacity of 3,000 tpd (combined 6,000 tpd), associated electrical upgrades, pumps and piping and installation of a second tailings deep cone thickener.
· Completed the closing of a $50.00 million senior secured, revolving debt facility.
· Received the €10.09 million grant from Junta de Andalucia in Spain.
Conveyor belt and Aguas Tenidas (during construction 2008)