MAC reports strong production at CSA mine
Australian copper producer Metals Acquisition Corp (MAC) has announced a solid performance at the CSA mine in Cobar, producing 10 159 t during the September quarter. This marks MAC’s second-highest production figure since taking ownership, following a record-setting June quarter.
“This marks another milestone as we produced 21 023 t of copper for the last two quarters. Based on the reserve plan, we expect copper production to increase over the remaining quarter of the year,” commented CEO Mick McMullen.
The company is on track to meet its 2024 production guidance midpoint of 40 500 t, with plans to reach 50 000 t/y by 2026. McMullen noted that MAC had initiated two critical capital projects aimed at boosting production, including the expansion of the mine to encompass QTS South Upper and a ventilation project. These enhancements are slated to come online in the third quarter of 2025 and mid-2026, respectively.
In a further boost, MAC recently completed a successful equity raise of about A$150-million. McMullen highlighted the oversubscribed placement, backed by both new and existing institutional investors in Australia and abroad, as a testament to the high-quality nature of the CSA copper mine and the significant operational improvements achieved over the past year.
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