New Century achieves record zinc production

Matt Canavan (right) at the Century mine with Patrick Walta recently.

New Century Resources has set a new standard at the Century zinc mine in Queensland, achieving record quarterly production at the end of last year.

The company produced 7 per cent more zinc in the December quarter to hit a record 28,123 tonnes of zinc metal, with cash costs of $US0.96 ($1.87) per pound.

New Century has experienced a 135 per cent increase in quarterly metal production since the December quarter of 2018.

Its zinc concentrate graded 49.1 per cent zinc and silver content reached 162 grams per tonne in concentrate.

New Century still aims for 19 per cent additional metal production through continued recovery, driven by available plant capacity and stability.

The company also continued to execute its planned ramp up to 12 million tonnes a year capacity over the 2020 financial year.

It achieved an average mining rate of 8.3 million tonnes over the December period, increasing to around 8.9 million tonnes in the March 2020 quarter.

New Century stated that completion of equipment refurbishment was imminent for the ramp up.

The final rougher circuit upgrade is due for tie-in and commissioning in late February, approximately three weeks ahead of schedule.

New Century has however been impacted by the continued “dour zinc market conditions” in the December period, decreasing its total receipts from customers by 7 per cent to $42.2 million.

It has sold 100 per cent of concentrate to date, with sales continuing to be booked out more than a quarter in advance.

New Century has delivered 25 shipments to 10 different smelters across three continents.

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