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August 2016 MODERN MINING17
MINING News
Record quarterly copper
production by FQM
First Quantum Minerals, listed on the TSX, has announced com-
parative earnings of US$38 million and cash flows from continuing
operating activities of US$304 million for the three months ended
June 30, 2016.
During the quarter, FQM – whose assets include the Kansanshi and
Sentinel copper mines in Zambia – set a new record for copper pro-
duction and sales of 131 349 tonnes and 132 030 tonnes, respectively,
surpassing previous records set in the first quarter of the year:
Sentinel recorded a 53 % increase in copper production over Q1
2016, reflecting steady operational and power supply improvements.
For its part, Kansanshi achieved its highest quarterly production since
Q3 2014 due to the increased smelter availability and sulphuric acid
supply from the operation of the Kansanshi smelter.
Commenting on the results, Philip Pascall, Chairman and Chief
Executive Officer, said that all the company’s operations had shown
improvements in costs and efficiency.“The greatest impact was attrib-
utable to Kansanshi, and the operation of its smelter. This provides
the mine with more acid than previously available, and at virtually no
cost. The extra acid helps recovery of mixed and high acid consuming
oxide ores. The combination of higher recoveries, negligible acid cost,
and the lower smelting treatment costs, make a significant difference.
Other aspects of Kansanshi, particularly mining, have also improved
markedly, as they have across the company.” 
Grade reconciliation from underground sampling to the deposit block
model has been good.
Commissioning feed to the plant in February andMarch was primar-
ily sourced from the low grade development stockpiles. During April
and May a small volume of tonnes from underground mining were
introduced along with the low grade development feed. To May 31
this year, 320 297 tonnes were milled at an average grade of 0,74 g/t.
Approximately 5 326 ounces (4E) in concentrate were produced.
Looking forward, tonnes mined are scheduled to increase as key
mining blocks are accessed, developed and stoped. Stoping in bord-
and-pillar mining and long-hole mining has started. The grade of
material feed to the mill is increasing as the proportion of the stoped
tonnes increases relative to development tonnes.
First concentrate was produced in February 2016 with commercial
production expected late in calendar 2016. Initial monthly revenue
from concentrate sales before commercial production will be treated
as a reduction in project capital cost. Cost recoveries to May 31, 2016
from concentrate sales totalled approximately US$4,6 million.
“The construction of the Maseve mine has been completed with
a good safety record and in accordance with designs,” comments R.
Michael Jones, CEO of Platinum Group Metals. “The deposit blocks
that have been accessed for current mining show good grade thick-
ness correlation to the block model. The concentrator plant performs
at or in excess of design capacity and produced concentrate has been
sold. Feed grades to the plant are increasing. Our challenge ahead
is to open stopes and mine an increased volume of stoped material.
Our most important and best grade thickness block in the mine plan
is 90 m ahead of our declines and access and mining is expected in
August 2016.” 
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