African Copper Plc, the AIM and Botswana listed copper production and exploration company, has announced the production and exploration update for the fourth quarter and its financial year to 31 March 2014 (“fiscal 2014”).

The company said for the fourth quarter of fiscal 2014, it produced 2,515 metric tonnes (“Mt”) of copper in concentrate, a marginal increase on the third quarter when 2,499 Mt were produced. It said the amount of ore mined from the Thakadu pit was impacted by frequent breakdowns of the mining contractor’s fleet and rain revealing that ore transported from Thakadu to Mowana for processing was also severely affected by torrential rains during all three months of the quarter caused by the frequent flooding of the Lepashe river on the ore transportation route.

It added that the decline in ore processed during the quarter was offset by higher grade ore from the Thakadu pit during January and March, and improved recoveries when compared with the previous quarter.

African Copper said saleable copper in concentrate increased to 9,951 Mt for fiscal 2014 an increase for the third consecutive year adding that a preliminary geotechnical report was received during March for the area north of the current Mowana pit. The results of this ongoing work will be factored into current studies being undertaken to assess the potential for developing an underground mine at Mowana.

Jordan Soko, Acting Chief Executive of African Copper, said they are pleased with the mobilization efforts of our new mining partner Diesel Power and are looking forward to progressive increases in mining tonnages at Thakadu.

“With stable delivery of good quality Thakadu ore, the Mowana processing operation is well positioned to increase throughput and production levels in the coming quarter and new fiscal year,” he said.

Production levels for the three months ended 31 March 2014 and previous periods are set out below:

Copper produced in concentrates for the fourth quarter of fiscal 2014 increased marginally by 3.5% and volume processed decreased by 1%, compared to the same period last year.

During the three months ended March 2014, mining operations continued to be affected by poor availability of the mining contractor’s equipment, resulting in low levels of waste stripping that was needed to expose high grade Thakadu ore. For the upcoming quarter ended 30 June 2014, the Company is anticipating more stable operations and an increase in mining productivity after the engagement of Diesel Power mining contractors who commenced mining operations at Thakadu in April 2014. (See African Copper’s press release dated 5 March 2014)

Plant utilisation and throughput was affected during the quarter by the low delivery of ore transported from Thakadu and the time taken to accumulate sufficient live ore on the ROM pad for crushing.

Ore processed fell progressively from January through March as a result of the heavy rains, though higher grades resulted in copper produced in concentrate increasing marginally to 2,515 tonnes compared to 2,499 tonnes in the previous quarter. A concerted effort has been made to increase the number of ore transportation trucks available and, with the end of the exceptional rainy season, better throughput and processing is expected in the coming quarter. During the periods of low ore delivery, planned maintenance was brought forward and carried out.