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Urgent Need for Massive New Copper Supply To Come Online in the Near Future if There Is To Be Any Hope of Achieving the Goal of Net-Zero Emissions by 2050

  • Copper production guidance for 2022 remains within the range of 110,000 to 150,000 tonnes while 2022 gold production guidance has been revised from a range of 135,000 – 165,000 ounces to 150,000 – 170,000 ounces.
    • Q2’22 Copper production of 30.6 thousand tonnes of copper in concentrate, a decrease of 17% vs Q2’21 and a slight increase of 1% vs Q1’22
    • Q2’22 Gold production of 47.6 thousand ounces of gold in concentrate, a decrease of 58% vs Q2’21 and a decrease of 20% vs Q1’22
  • Expenditures on property, plant and equipment for 2022 are now expected to be approximately $140 million to $170 million for open-pit operations due to further schedule changes impacting the timing of spend and lower deferred stripping as a result of mine plan changes resulting in a higher proportion of ore mining compared to waste removal. This is compared to the Company’s previous guidance of $155 million to $185 million.
  • Capital expenditures on the…

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