Phu Bia Mining Celebrates Anniversaries of Its Operations in Laos

On May 13, 2017, Phu Bia Mining (PBM) announced the nine and five-year anniversaries of its Phu Kham Copper-Gold and Ban Houayxai Gold-Silver Operations, respectively.

Marking these anniversaries, Dr Fred Hess, Managing Director of PBM’s parent company, PanAust Limited, general managers and other senior management acknowledged the exceptional year-on-year operational, safety and cost performances of the operations at Phu Kham and Ban Houayxai Operations.

Commencing production in May 2008, the Phu Kham Operation has produced 574,086 tonnes (t) of copper in concentrate, 578,871 ounces (oz) gold and more than 3.83 million oz silver by the end of first quarter 2017.

Ban Houayxai commenced production in April 2012. The Operation has since produced 575,020 oz gold and over 4.12 million oz silver.

Additionally, PBM is very pleased to report excellent March quarter 2017 results for its operations, with solid safety, production and cost metrics recorded.

Phu Kham produced 22,751 tonnes of copper in concentrate at a C1 cost of US$1.15/lb after precious metal credits from 19,790 oz gold and 139,644 oz silver. All-in sustaining costs (ASIC) of US$1.63/lb copper were achieved.

Ban Houayxai recorded production of 34,486 oz gold and 221,229 oz silver. Favourable C1 costs of US$465/oz after silver credits and an AISC of US$575/oz were also achieved.

PBM Chairman, Mr Chanpheng Bounnaphol said the anniversary celebrations highlighted the short and long-term success of PBM’s operations. The solid performance of both Phu Kham and Ban Houayxai during the first quarter of 2017 also show the operations are integral to PanAust’s continued success.

The strong safety, production and cost performances of PBM’s Operations enhance PanAust’s corporate strategy: to maximise returns from its producing assets while advancing projects that offer potential to sustain and grow the business in the long term, Mr Bounnaphol said.

Source: Lao News Agency