MiningHive

Tiger Achieves 2013 Production Guidance at Kipoi Copper Project

Australian-listed Copper producer Tiger Resources Ltd (ASX: TGS) has announced that it has achieved its 2013 production guidance of 41,000-43,000 tonnes of copper-in-concentrate at the Company’s Kipoi Copper Project in the Democratic Republic of Congo (DRC).

Highlights:

  • Production of 41,255 tonnes of copper-in-concentrate for 2013 calendar year - more than 4,000 tonnes above original guidance of 37,000 tonnes
  • 2014 production guidance for HMS plant at Kipoi is 39,000t of copper at cash cost $0.30/lb of copper produced
  • Company on track to start producing copper cathode in Q2 2014 from Stage 2 SXEW plant

Heavy Media Separation Plant

The Company produced 41,255 tonnes of copper for the 12 months to 31 December 2013 at the Stage 1 heavy media separation (HMS) plant at Kipoi. During the December quarter, Tiger carried out necessary maintenance work on the HMS plant. The work included replacing the liners on the primary crusher, the secondary crusher and the double deck screens.

MD "Extremely" Satisfied

Tiger’s Managing Director Brad Marwood said he was delighted with the 2013 performance of the Kipoi plant.

“For the plant to achieve our updated production guidance of more than 41,000 tonnes – exceeding our initial guidance by more than 4,000 tonnes – is extremely satisfying and is testament to the commitment of our staff on the ground as well as our management team.”

“The HMS has been operating well above nameplate capacity for most of 2013”.

2014 Production Guidance

Tiger’s 2014 production guidance for the HMS plant at Kipoi is 39,000t of copper in concentrate, up 85% from the original guidance of 21,000t. The HMS plant’s average operating cash cost for 2014 is forecast to be $0.30/lb of copper produced.