Inmet Mining Corporation (TSX:IMN) is pleased to announce its production by operating mine for 2012, and production and cash cost objectives for 2013.
Jochen Tilk, Inmet President and CEO commented "We are pleased to have met the upper end of our 2012 production guidance and thank our operations and employees for their contributions."
Production results and 2013 outlook
In 2012, we produced 111,700 tonnes copper and 66,300 tonnes zinc. Las Cruces production in 2012 increased by more than 60% to 67,700 tonnes from 42,100 tonnes in 2011. Over the last nine months ended December 2012, Las Cruces averaged design capacity output. Our forecast range this year allows for planned maintenance downtime and for allowances as we gradually introduce higher throughput rates. Cayeli copper and zinc production in 2012 were both above our original objectives, and reflected higher grade stopes in production as well as strong throughput. We expect zinc production in 2013 to decline by roughly 10% as zinc grades trend more toward reserve grade at Cayeli and Pyhasalmi. The continuing emphasis on operational excellence that has characterized Cayeli and Pyhasalmi paid off again in 2012, both in production results and safety results, with Pyhasalmi going 794 days without a Lost Time Injury.
We will include more outlook discussion when we announce our fourth quarter and year end results on Thursday, February 21, 2013 after the close of trading. We will conduct a live audio webcast and conference call discussing the results on Friday, February 22, 2013 at 8:30 a.m. Eastern Time. The call will be hosted by Jochen Tilk, President and Chief Executive Officer.