By Carolina Curiel (ScrapMonster Author)

February 18, 2016 07:01:06 AM

LIMA (Scrap Monster): Minsur has reported sharp drop in refined Tin production at its Peruvian mines during 2015. However, the yearly output is in line with the production guidance for 2015, it noted.

The company’s refined Tin output from Peruvian operations dropped nearly 17% to 20,224 tonnes in 2015. This is when matched with the previous year. The output during the last quarter of the previous year witnessed rise of 2%. The refined Tin output during Q4 2015 totaled 6,300 tonnes.

The company’s output from San Rafael mine declined sharply by 16% over the previous year to 19,511 tonnes. The drop in output is primarily attributed to lower average tin head grades of 2.05%, compared to 2.48% Sn in 2014. The output during the last quarter of 2015 fell 18% over the previous year to 5,129 tonnes. The head grades fell from 2.48% Sn in Q4 2014 to 1.97% Sn in Q4 2015. However, the company has managed to keep the cash costs mostly unchanged over the year through increased operational efficiency and drastic cost savings. The renegotiation of terms with contractors also helped to offset the counter effect of lower tin grades.

The company had earlier guided that its refined Tin production for 2015 will remain in a range between 20 kt and 22kt. According to ITRI, the San Rafael mine has managed to keep the cost of production at globally competitive levels in 2015. It expects the company to be able to maintain the current production levels, mainly on account of its investment in a new ore sorting plant.