Power Restored After Interruption at CSA Copper Mine
- None.
- Production delays due to power outage impacting 400-500 tonnes of copper production
- Financial impact of deferred production on quarterly results
ST. HELIER, Jersey--(BUSINESS WIRE)-- Metals Acquisition Limited ARBN 671 963 198 (NYSE: MTAL; ASX: MAC)
Metals Acquisition Limited ARBN 671 963 198 (NYSE: MTAL; ASX:MAC), a private limited company incorporated under the laws of Jersey, Channel Islands (MAC or the Company) wishes to advise that, on the evening of 29 February 2024, a large storm passed approximately 100km to the east (near Nyngan) of the CSA Copper Mine which impacted the main 132kVa power line to the mine. All grid power was out to the mine for more than 26 hours whilst the power line owner and operator restored the downed lines and infrastructure. The loss of power to the mine resulted in three days of production being impacted, including when accounting for restart and ramping up to normal levels of operation.
All of our people are safe and while approximately 50mm of rainfall at the CSA Copper Mine was associated with this storm event, this has had no impact on operations due to the long-standing nature of the operation and its well established systems for dealing with rainfall events.
The Company currently estimates that with the loss of power and the associated restart of the mine will result in approximately 400 to 500 tonnes of copper production being deferred from the March quarter into the June quarter.
This announcement is authorised for release by Mick McMullen, Chief Executive Officer & Director.
About Metals Acquisition Limited
Metals Acquisition Limited (NYSE: MTAL; ASX:MAC) is a company focused on operating and acquiring metals and mining businesses in high quality, stable jurisdictions that are critical in the electrification and decarbonization of the global economy.
Forward Looking Statements
This press release includes “forward-looking statements.” MAC’s actual results may differ from expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside MAC’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things; the supply and demand for copper; the future price of copper; the timing and amount of estimated future production, costs of production, capital expenditures and requirements for additional capital; cash flow provided by operating activities; unanticipated reclamation expenses; claims and limitations on insurance coverage; the uncertainty in mineral resource estimates; the uncertainty in geological, metallurgical and geotechnical studies and opinions; infrastructure risks; and dependence on key management personnel and executive officers; and other risks and uncertainties. MAC cautions that the foregoing list of factors is not exclusive. MAC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. MAC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
More information on potential factors that could affect MAC’s or CSA Mine’s financial results is included from time to time in MAC’s public reports filed with the SEC. If any of these risks materialize or MAC’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that MAC does not presently know, or that MAC currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect MAC’s expectations, plans or forecasts of future events and views as of the date of this communication. MAC anticipates that subsequent events and developments will cause its assessments to change. However, while MAC may elect to update these forward-looking statements at some point in the future, MAC specifically disclaims any obligation to do so, except as required by law. These forward- looking statements should not be relied upon as representing MAC’s assessment as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240304573263/en/
Mick McMullen
Chief Executive Officer
Metals Acquisition Limited.
investors@metalsacqcorp.com
Dan Vujcic
Chief Development Officer
Metals Acquisition Limited.
Source: Metals Acquisition Limited
FAQ
How has Metals Acquisition Limited (MTAL) been affected by the recent storm near the CSA Copper Mine?
What was the duration of the power outage at the CSA Copper Mine?
Who is the Chief Executive Officer of Metals Acquisition Limited?
How did the storm impact operations at the CSA Copper Mine?
What is the estimated amount of deferred copper production due to the power outage?
Is there any impact on the safety of the employees at the CSA Copper Mine?
