{"id":5674,"date":"2024-02-11T23:15:51","date_gmt":"2024-02-11T23:15:51","guid":{"rendered":"https:\/\/economicherald.net\/?p=5674"},"modified":"2024-02-11T23:15:51","modified_gmt":"2024-02-11T23:15:51","slug":"first-concentrate-at-kanmantoo-hillgrove-resources-a-minted-copper-producer-once-again","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=5674","title":{"rendered":"First concentrate at Kanmantoo: Hillgrove Resources a minted copper producer once again"},"content":{"rendered":"<p>\u00a0<\/p>\n<p><strong>First copper produced from revived Kanmantoo mine in South Australia<\/strong><br \/>\n<strong>Production and output to increase over the coming months<\/strong><br \/>\n<strong>65% reduction in electricity costs achieved<\/strong><br \/>\n<strong>Growth to be underpinned by consistent exploration and development activities<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong><em>Special Report<\/em><\/strong><strong>: In a milestone achievement for Hillgrove Resources, the company has been reinstated as an Australian copper producer after producing first concentrate from its Kanmantoo underground operation in South Australia.<\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/hillgrove-resources-hgo\/\" target=\"_blank\" rel=\"noopener\"><strong>Hillgrove Resources (ASX:HGO)<\/strong><\/a> completed the final critical path activities <a href=\"https:\/\/stockhead.com.au\/resources\/hillgrove-readies-first-stope-ahead-of-copper-production-at-kanmantoo-next-year\/\" target=\"_blank\" rel=\"noopener\"><strong>required to enable stoping<\/strong><\/a> in December, paving the way for the production to resume from the historical Kanmantoo copper mine, just 55km from Adelaide.<\/p>\n<p>From 2010 to 2020, HGO operated a series of open pits at Kanmantoo, producing ~173,000t of copper and ~55,000oz of gold before the 3.6Mtpa process plant and tailings storage facility were placed on care-and-maintenance.<\/p>\n<p>Underground development started in mid-2023 following a period of exploration and economic studies to determine the next best move for the project.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Plant commissioning and future growth<\/strong><\/h2>\n<p>Commissioning of the plant and production have now been achieved as HGO positions itself as one of the few copper producers on the ASX with significant upside potential to extend mine life with continued exploration.<\/p>\n<p>Recent drilling results from the reborn miner include:<\/p>\n<p>6m @ 3.35% Cu from 43m downhole in East Kavanagh (23KVUG064)<br \/>\n40m @ 1.27% Cu from 43m downhole in Central Kavanagh (23KVUG072)<\/p>\n<p>Mains connections have been established to Kanmantoo underground, resulting in a circa 65% cost reduction to power use from circa $0.40 per kilowatt hour to circa $0.13 per kilowatt hour.<\/p>\n<p>The company also connected itself to the South Australian power grid, which is supplied by over 70% renewable energy generation and substantially reduces the project\u2019s carbon footprint.<\/p>\n<p>\u00a0<\/p>\n<p>Copper concentrate from Kanmantoo. Pic supplied: (HGO)<\/p>\n<p>\u201cFirst copper production from the Kanmantoo underground operation is an important milestone for the company,\u201d HGO chief executive Lachlan Wallace says.<\/p>\n<p>\u201cOver the next few months, the mine output and copper production are expected to ramp up as additional work areas are established underground.<\/p>\n<p>\u201cCompleting this transition from explorer to producer makes us one of only a few copper producers on the ASX, and doing so in eight months highlights the company\u2019s capability to deliver projects.<\/p>\n<p>\u201cOperations will be bedded down at Kanmantoo as we ramp up to steady stage production, and our attention will turn to growing the business by converting future exploration and development opportunities.\u201d<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Hillgrove Resources, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/first-concentrate-at-kanmantoo-hillgrove-resources-a-minted-copper-producer-once-again\/\">First concentrate at Kanmantoo: Hillgrove Resources a minted copper producer once again<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>\u00a0 First copper produced from revived Kanmantoo mine in South Australia Production and output to increase over the coming months 65% reduction in electricity costs <a href=\"https:\/\/economicherald.net\/?p=5674\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":5675,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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