New Century production drops 4%, realised zinc prices up 12%
Yesterday New Century (ASX:NCZ) touted a 70% increase in quarterly adjusted EBITDA to A$22.4 million from A$13.2 million September quarter.
The operating cash margin from receipted sales was A$12.7m for the quarter and an average realised quarterly zinc price of US$1.19/lb, up 12%.
Weather played havoc on mining operations dropping production 4% quarter-on-quarter.
"Zinc metal production of 32.4kt for the quarter (vs 33.6kt September quarter), with reduced operating hours and operational instability caused by significant wet season rain events and persistent power supply interruptions from the Mica Creek power station in Mt Isa, as it transitioned to permanent shutdown at the end of 2020 after 60 years’ of operations," said the company in a news release.
The Century mine began open-pit production in 1999. During its 16 years of operation, Century was one of the largest zinc mines in the world, producing and processing an average of 475,00tpa zinc concentrate and 50,000tpa lead concentrates at Lawn Hill, according to a description on the company's website.