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Markets // Market Analysis

Articles tagged with: Minsur

Pitinga-Pirapora tin output reaches fresh highs

Post By: Tom Mulqueen on Friday, 18 August 2017

Refined tin production from Minsur's subsidiary in Brazil, Taboca, rose 28% year-on-year to 1,934 tonnes in Q2 according to the company's Q2 financial report, while production from the Pitinga Mine declined 3% to 1,622 tonnes.

The increase in refined tin production was explained by an 18% higher volume of concentrate to the smelter and a 37% rise production of tin from slags. Output in the first half of 2017 totalled 3,356 tonnes, up 39% from the same period of...

Minsur increases Peru production guidance for 2017

Post By: Tom Mulqueen on Friday, 18 August 2017

Minsur has revised its 2017 Peruvian refined tin production guidance from between 16,500 and 17,500 tonnes to between 17,500 to 18,500 tonnes. The change was outlined as part of the company's Q2 financial results, which also reveal that refined tin production from its Peruvian operations in Q2 totalled 4,727 tonnes, down 6% from 5,014 tonnes in Q2 2016.

The lower production in Q2 2017 is largely due to consumption of raw material stocks in the same period of...

Pitinga producing at full capacity in Q1

Post By: Tom Mulqueen on Friday, 19 May 2017

Minsur's 2017 first quarter consolidated results, released last week, reveal that tin-in-concentrate production by its Brazilian subsidiary, Taboca, rose by 18% to 1,767 tonnes compared to the first quarter of last year, while Taboca's output of refined tin rose 59% to 1,422 tonnes over the same period.

Four reasons have been provided by Minsur for the increased output of refined tin. The first is the 30% year-on-year Q1 increase in ore volume treated at Pitinga to 1.76 Mt,...

Peru tin output falls due to maintenance

Post By: Tom Mulqueen on Friday, 05 May 2017

Minsur has released its Individual Q1 results for its Peruvian operations which reveal that refined tin production fell 18% year-on-year to 3,580 tonnes during the first quarter as a result of scheduled maintenance at the Pisco tin smelter in January.

The maintenance at the smelter took place over a 23 day period and also resulted in a 25% increase in production cash costs to $10,284 due to lower production levels. Production at the San Rafael mine also registered...

Pitinga outlook positive after record year

Post By: Tom Mulqueen on Monday, 06 March 2017

Minsur's consolidated results, released last week, report that tin output from the Pitinga mine in Brazil rose by 20% year-on-year to 6,875 tonnes, a record high since the mine's acquisition by Minsur in 2008, while refined tin produced at the Pirapora smelter in Brazil rose 6% to 5,873 tonnes. Refined tin production by Minsur's operations in Peru and Brazil totalled 25,445 last year, down 1% from 2015, but in line with official guidance.

The company's Brazilian operations, which are...

Minsur’s Peruvian production down in 2016

Post By: Tom Mulqueen on Wednesday, 15 February 2017

Individual Q4 results for Minsur's Peruvian operations, released today, reveal refined tin production totalled 19,573 tonnes in 2016, down 3.2% from 2015. Despite a 20% year-on-year fall in refined production to 5,023 tonnes in Q4, 2016 production guidance of 19kt to 19.5kt was exceeded.

In addition to the contraction in refined tin output from the Pisco smelter during Q4, tin-in-concentrate production from the San Rafael Mine fell 6% year-on-year to 4,828 tonnes in Q4, while head grades fell to...

Fitch maintains Minsur credit rating

Post By: Tom Mulqueen on Tuesday, 24 January 2017

Minsur's tin production from its operations in Peru and Brazil is forecast to increase from some 26,000 tonnes in 2016 and 2017, to around 30,000 tonnes by 2019, in a new analysis published by Fitch Ratings earlier this month.

Fitch re-affirmed a BBB- rating on Minsur bonds, with a stable outlook. In the release, Fitch noted the continued low cost of production in Peru, that the "long-term fundamentals for tin remain sound" and that "the recent trend (at the San Rafael...

Pitinga production strong in Q3

Post By: Tom Mulqueen on Tuesday, 15 November 2016

Minsur's Q3 consolidated results, released yesterday, reveal that refined tin output from its Brazilian subsidiary, Taboca, rose 16% YoY to 1,742 tonnes during the quarter. The increase was largely due to completion of hydroelectric plant repairs at the Pitinga mine and brings Minsur's total refined tin production in Brazil and Peru to 6,924 tonnes for Q3.

The impact of repairs to the hydroelectric plant was most notable in the year-on-year increase in tin-in-concentrate production from the Pitinga mine In Q3, which...

Minsur reports Q3 rise in Peruvian production

Post By: Tom Mulqueen on Monday, 07 November 2016

Minsur's individual Q3 results, released at the end of October, reveal a 25% improvement in refined tin production from its Pisco smelter to 5,182 tonnes, and a 5% increase in tin-in-concentrate production from the San Rafael Mine to 5,114 tonnes, compared to Q3 2015.

The increased performance was explained both by lower production in September 2015, due to scheduled maintenance carried out at the Pisco smelter, and also the commissioning of the company's new Ore Sorting plant during Q3...

Taboca production flat in Q2

Post By: Tom Mulqueen on Monday, 15 August 2016

Minsur's Brazilian subsidiary, Taboca, produced 1,514 tonnes of refined tin in Q2 2016, up 1 tonne on the same period of 2015, according to the company's consolidated operating results, released earlier today. Output from the Pitinga mine totalled 1,680 tonnes of tin-in-concentrate for the same period, up just 8 tonnes on 2015.

The volume of ore treated at the Pitinga mine in Q2 rose 8% to 1.59 Mt, while tin head grades rose 1% to 0.21% Sn relative to...


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