Article: FQM achieves its highest ever annual copper productThis article bodes well for MMA's permits. Note the mention of lower grades.
FQM Jan 2022 Production Article Meanwhile Kansanshi Mine in Solwezi achieved copper production of 202,000 for the full year, 19,000 lower than 2020, reflecting the depleting oxide ore in the maturing mine and that copper production in the fourth quarter of 2021 was 52,000 tonnes, a reduction of 1,000 tonnes from the same period of 2020 because of lower grades and oxide recoveries.
Plans to invest in additional production facilities to process lower grade ore were contingent on a more favourable fiscal regime, the company has said previously.
Copper and nickel production are forecast to grow to 850,000-910,000 tonnes and 40,000-50,000, respectively, by 2024, while capital cost guidance has increased to $1,250 million in 2023 and 2024 and $1,375 million in 2024, principally due to inflationary pressures.