Stable production, higher price boosts Alphamin's third-quarter Ebitda
TSX-V- and AltX-listed Alphamin Resources achieved earnings before interest, taxes, depreciation and amortisation (Ebitda) of $38.3-million for the quarter ended September 30, compared with the Ebitda of $35.4-million reported for the second quarter of this year.
The increase in Ebitda came on the back of stable production and sales volumes and a higher tin price.
The company, which operates the Mpama North mine, in the Democratic Republic of Congo (DRC), produced 3 104 t of tin in the third quarter and sold 3 111 t of tin. Output and sales were in line with that of the second quarter.
The tin price averaged $26 557/t, compared with $25 587/t in the second quarter.
Meanwhile, work on Mpama South, which will increase Alphamin's output by 60%, continues.
A total of 2 448 m of underground development at Mpama South has been completed to date, of which 988 m was achieved in the third quarter.
The Mpama South adit is expected to connect with the Mpama South underground workings by early November.
The year-to-date development metres at Mpama South are in line with the company’s updated two-year underground mine plan to achieve the targeted tin production expansion from the 2024 financial year.
This will require about 1 200 m of underground development to be completed during the fourth quarter of this year.
Alphamin says the erection of the new processing facility is progressing well, but poor road conditions and the impact of a damaged bridge have delayed container deliveries by about three weeks.
As a consequence, the commissioning of the new processing plant may be delayed to January/February 2024, it states.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.
VISIT SHOWROOM
Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
