Leading Kambalda nickel miner Mincor Resources has confirmed the ongoing strength of its operational turn around, releasing healthy production numbers for the March 2012 quarter and flagging a strong near term outlook.

Mincor said its Kambalda nickel mines produced 87,696 tonnes of ore at a grade of 3.06% nickel, for 2,682.1 tonnes of contained nickel metal, an increase of 29% over the previous quarter. Nickel in concentrate totaled 2,405.4 tonnes. Cash costs have yet to be finalized but are expected to be well below the targeted AUD 6.10 per pound.

The strong performance continues the trend established following the operational restructuring carried out between July and October 2011. It also reflects the entry into production of high grade ore sources at Mariners (the Terrace ore body) and at McMahon (the MNO3 ore body).

Still ahead for Mincor is the high grade N29C ore body at Miitel, which is now under development and due to enter production towards the end of the June 2012 quarter and the very high grade N10B ore body at Mariners, which will commence its production ramp up in June 2012.

Mincor is well on track to meet its production forecasts and to substantially out perform its cost forecasts for the 2012 financial year (10,000 tonnes of nickel in ore at cash costs before royalties of AUD 6.10 per pound).

Source - Mincor Resources NL

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