NQ Minerals delivers substantial boost to production, and is still looking for more

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NQ Minerals PLC (AQSE:NQMI)(OTCQB:NQMLF) has boosted production and processing rates at its Hellyer mine in Australia to 165 tonnes per hour.

Plans are being finalised to increase production further to 180 tph, equivalent to about 1.5mln tonnes per year.

The Hellyer operations have been undergoing processing circuit modifications since the end of June 2020 and this work has since achieved an average annualised production rate of 1.23mln tonnes per year for the months of July and August 2020.

It’s a significant increase on the first quarter annualised rate of 905,000 tonnes per year, and the second quarter rate of 1.01mln tonnes.

During this transition to higher production rates, it has become evident that production levels in excess of 1.2mln tonnes per year might be possible, and as a consequence NQ Minerals has agreed with Hellyer management to continue this throughput increase initiative and associated investment with a view to a revised long term maximum production target of 1.5mln tonnes.

“This is an outstanding result for our Hellyer operations,” said executive chairman David Lenigas.

“The opportunity to continue this initiative and further increase our lead and zinc concentrates output will certainly improve financial returns and manage our business risk.”

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