Minsur’s individual Q3 results, released at the end of October, reveal a 25% improvement in refined tin production from its Pisco smelter to 5,182 tonnes, and a 5% increase in tin-in-concentrate production from the San Rafael Mine to 5,114 tonnes, compared to Q3 2015.
The increased performance was explained both by lower production in September 2015, due to scheduled maintenance carried out at the Pisco smelter, and also the commissioning of the company’s new Ore Sorting plant during Q3 2016, which is treating low-grade ore stockpiles at the San Rafael Mine.
For the year-to-September, output from San Rafael fell 3%, while refined tin production from Pisco rose 4% to 14,550 tonnes, relative to the same period of 2015. A fall in head grades from 2.09% for the first 9 months of 2015 to 2.04% in 2016 has been offset by a 24% increase in the volume of ore treated at the mine to 945,919t.
The Q3 cash cost of production from San Rafael, per tonne of ore treated, fell 45% year-on-year to US$66. This reduction was mostly due to the inclusion of 257,103 tonnes of stockpiled ore treated using the new ore sorter, alongside 191,587 tonnes sourced directly from the mine treated through the main processing plant. The ore stockpile currently being utilised is expected to be depleted by 2017, with an increase in costs likely at this time. The cash cost per tonne of refined tin in Q3 also fell 12% YoY to $7,569 due to the increased production and cost savings at the plant.
Minsur will release consolidated results for its operations in Peru and Brazil on 14 November.