Minto Metals (TSXV: MNTO) has released its production results for the first quarter of 2022. The company currently produces copper from the Minto mine located within the Selkirk First Nation's Territory in the central Yukon.
Payable copper production increased by 70.7% over the same quarter in 2021, for a record 9.1 million pounds. Ore tonnes produced totalled 238,979 dry metric tonnes, a 37.0% increase from prior year period, and mill feed was 237,239 dry metric tonnes, an 11.7% increase. Overall head grade at the Minto mine was significantly higher at 1.8% copper, compared to the 1.2% copper realized in Q1 2021.
"We eliminated our underground mine contractor and started to self perform mining operations for the first time in Minto's history in January 2022," said Chris Stewart, president and CEO of Minto Metals. "This transition combined with Covid-19 caused some manpower challenges for us in January, but we worked through that and delivered a record quarter of production hitting our copper pound targets in January and February and then finished up in March with our best results ever."
The Minto mine started out as an open pit operation in 2007, and was later supported by an underground operation beginning in 2014. To date, approximately 500 million lb. of copper have been produced from the Minto mine.
Mine operations are now entirely underground, and includes a process plant to produce high-grade copper, gold and silver concentrates. All supporting infrastructure associated with a remote location in Yukon.
The Minto mine was previously held by Capstone Copper, which placed it under temporary care and maintenance in October 2018. Minto Metals' parent company Pembridge Resources bought the asset in June 2019 and restarted mining operations four months after in October of that year.
More details can be found at www.mintomine.com.
April 18, 2024
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