BASE METALS

Rambler lifts Ming milling rate

Copper-gold miner reports improved performance at Newfoundland mine

Staff reporter
 Ming copper-gold mine in Newfoundland, Canada

Ming copper-gold mine in Newfoundland, Canada

That was 13% up on the previous quarter and the highest level of concentrate for nearly four years.

Rambler said year-to-date mill throughput of 211,090t at an average 1.36% copper and 0.59gpt gold had it on tracked for its guided 400,000-450,000t at 1.3-1.5% copper. SP Angel in London said average gold grades were below the guidance range of 0.7-0.9gpt, but "we estimate that precious metals represent only around 15% of overall revenue".

"Given the productivity improvements in the mine, which have provided access to better grade material in both the Lower Footwall Zone and the Ming massive sulfide deposits, we are now turning our attention to increasing the overall feed grade delivered to the mill," Rambler CEO Andre Booyzen said.

A new tailings disposal facility, capable of sustaining processing rates "in excess of 1,400t/day" is expected to be operational ahead of schedule by the end of this month, giving Rambler scope to continue its continuous improvement program. The mill achieved a new one-day record throughput of 1,493t on July 22.

"This last quarter's mine and mill performance has demonstrated effectiveness of the focus on continuous improvements that were started in late 2018 and still continue," Booyzen said.

"We will keep improving mining production and the average grade of ore produced so that saleable copper production continues to increase."

Rambler shares (LSE: RMM) got to 1.74p this week after opening Monday at 1.35p. After dipping to 1.27p Thursday the shares were up 7.8% Friday at 1.37p, capitalising Rambler at about £20.35 million.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.