CXO announced that it will temporarily suspend mining operations at the Grants open pit mine while continuing to process the established ore inventory. This approach will reduce the cash cost of Finniss project operations and generate revenue from the inventory ore. It expects to resume operations as market conditions improve. Start mining. As of December 31, 2023, CXO had approximately 280,000 tonnes of ore in stock available for processing until mid-2024 without the need for further mining. CXOs also expect discretionary spending, including research, exploration and corporate costs, to decrease.
Pilbara Minerals mentioned Our improved shutdown cycle has also proven successful, and as we enter the second half of the year, we have now taken the next step of implementing quarterly factory shutdowns, which is a significant improvement from the shutdowns of more than a year ago. However, the recovery rate for the quarter was 65.9%, compared with 66.6% in the previous quarter. We continue to work on strategies to improve recovery rates, such as ore sorting, which we expect to improve in the second half and into FY25.
About the cost. Our unit costs for the quarter were in line with our guidance of $639 per ton of ore. As we enter the second half of fiscal 2024, we are comfortable with our unit cost guidance. While supporting expanded production activities, we continue to implement operational productivity improvements that will result in improved unit costs in the second half of the year.
IGO said that the target for FY24 has been reduced by 100,000 tons, and CGP 3 is still progressing as planned.
WES proceeds as planned and reduces production based on short-term market conditions
After Albemarle added tooling and technical levels to its sales statistics, it said the sales would grow by 10-20% in 2024. Taliesin also assumed full production in the second half of the year, but the caliber was still unclear.
AMG said that our costs are very low, but the ramp-up target for the second phase is set very low.
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