The tin concentrate output from Peruvian San Rafael mine has started showing signs of stabilization. The cumulative output during the initial five months of the year totaled
LIMA (Scrap Monster): The latest statistics released by the Peru’s Energy and Mines Ministry indicate that tin production at Minsur’s San Rafael mine has started to stabilize.
The country’s only tin mine reported 1,622 tonnes of concentrate output during May this year. Although the monthly output is considerably down by 14.3% when matched with May 2014, the output has managed to remain stable around 1,650 tonnes during the past several months.
The combined tin output during the initial five-month period of the year was down by 13.8% when compared with Jan-May 2014. The output during January to May this year totaled 7,852 tonnes.
According to Minsur’s quarterly production report, the net revenue from tin operations had fallen drastically during Q1 2015. The tin production by Peruvian operations had plunged nearly 31% during the quarter, when compared with the previous year. The net revenues from operations had dropped 43% to $105.2 million. The stock optimization program implemented in 2014 had resulted in lesser tin production during the quarter. The scheduled plant maintenance shut down at the San Rafael mine also led to sharp drop in ore treated during the quarter. Further, Minsur reported significant decline in head grade ore quantities.
The company believes that the recent decline in ore grades has stabilized. Further, it expressed confidence in achieving the projected production target of 20,000-22,000 tonnes in 2015.
Minsur is a Peru-based mining company engaged in the extraction, foundation and refining of tin and copper. It is also involved in the exploration for new minerals deposits, with a focus on gold, silver, lead, and zinc ores.
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