RE:RE:RE:RE:RE:RE:Gibralter Layoffsnofluff wrote: My guess is that they save 6 million on labour and 30 million on fuel and maintanence for one year layoff.
So actually good for bottom line.
nf
Kinda Pollyanna-ish (pardon the pun) to think that NOT mining copper is good for the bottom line of a miner, don't ya think?
According to the annual report, the plan was for most of the ore this year to come from Pollyanna while work commences with opening up Gibralter in the last half of the year. The Gibraler pit will provide softer ore with better production rates. That is why the second half is expected to be better than the first half. Last aerial picture of the mine showed the Gib pit full of water. I assume dewatering has been going on.
This year's production has to be impacted by this as we are looking at delays at best. Not a good look. Not regarding the company, but Canadian bureacracy again. Good grief.
From the Annual Report.
With a strong copper price backdrop, mining rates have returned to more normal levels. Mining has transitioned to the Pollyanna pit which will be the main source of ore in 2021. Copper production is expected to be greater in the second half of 2021 as higher grade areas in Pollyanna are opened up. Mining of the Gibraltar pit will commence in the first part of 2021 with ore release commencing in the second half of the year. Ore from the Gibraltar pit is relatively softer and is expected to require less energy to grind, which will provide opportunities for increased mill throughput in the future.