Minsur’s Q3 consolidated results, released yesterday, reveal that refined tin output from its Brazilian subsidiary, Taboca, rose 16% YoY to 1,742 tonnes during the quarter. The increase was largely due to completion of hydroelectric plant repairs at the Pitinga mine and brings Minsur’s total refined tin production in Brazil and Peru to 6,924 tonnes for Q3.
The impact of repairs to the hydroelectric plant was most notable in the year-on-year increase in tin-in-concentrate production from the Pitinga mine In Q3, which rose 63% to 1,911 tonnes. The increase was a compounded effect of higher tin head grades of 0.21% (up from 0.19%) and a 47% rise in treated ore to some 1.7 Mt. The reduced reliance on power from diesel generators had a positive impact on net-of-by-product cash costs, which fell 6% to US$16,574 in Q3 compared to the same period of the previous year. NbTa alloy production saw a negligible rise to 454 tonnes.
Taboca’s refined tin production during the first 9 months of 2016 was just 1% higher than over the same period of 2015 and means Minsur’s Brazilian operations are on track to meet refined tin production guidance of 6,000 to 7,000t for the year
