THE BOURSE WHISPERER: Altona Mining has produced the first copper concentrate at the company’s Outokumpu project in Finland.
The company has been able to ramp up the concentrate grades quickly to the design grade of 24 per cent copper.
24% copper concentrate accumulating in the concentrate shed at the Luikonlahti processing plant. Source: Company announcement
Altona said this was a positive for the project as low grade feed is being used for commissioning of the Luikonlahti processing plant.
The concentrate has met the company’s expectations in that it is clean with no penalty elements.
Commissioning is now continuing using higher grade feed of 1.0 per cent to 1.5 per cent copper.
Managing Director, Dr Alistair Cowden said
“We are now a producer!,” Altona Mining managing director Dr Alistair Cowden exclaimed in the company’s announcement to the Australian Securities Exchange.
“I am very proud of the team in Finland.
“To reach first production seven months after starting plant refurbishment is a great achievement.
“This is a significant milestone for the project following closely after achieving first production from the Kylylahti mine”.
The company said it expects to commence trucking concentrate deliveries the 400 kilometre journey to New Boliden’s Harjavalta smelter in south-western Finland this month.
This should result in first revenues being received in March.