January 26, 2011 / 1:31 PM / 7 years ago

UPDATE 1-Capstone Mining says Cozamin output lags expectations

* Says production hit by shutdown in main ore-haulage ramp

* Cozamin, Minto produce 18.9 mln pounds in Q4

Jan 26 (Reuters) - Capstone Mining Corp CS.TO said combined production from its Cozamin and Minto mines totaled 18.9 million pounds in the fourth quarter.

However, output at the Cozamin copper mine in Mexico came in less than expected.

For the last five weeks of the year, mine and mill production for Cozamin came in at less than half of plan due to stability assessments being carried out in the high grade avoca area, the copper producer said.

Avoca mining, which involves opening of very large cavities, costs less than traditional techniques.

Production was further hampered by a shutdown in the main ore haulage ramp due to repair work, it said, adding production will not return to plan levels until late February.

The Vancouver-based company, which has estimated 2010 production of 78-80 million pounds, still expects to produce 80-85 million pounds of copper in 2011.

Capstone is scheduled to report its 2010 financial results on March 14. (Reporting by Bhaswati Mukhopadhyay in Bangalore)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below