Record quarter for Western Areas despite weak prices

ASX-listed Western Areas has reported record quarterly nickel sales, despite the weak commodity environment.

The miner said on Tuesday its nickel sales for the quarter ended June had reached a record 46 053 t of concentrate, containing 7 222 t of nickel, allowing the company to achieve a free cash flow of A$22.6-million during the quarter.

Total production for the three months reached 6 031 t of nickel in ore, at an average grade of 4.7%, while full-year nickel in ore production at 27 639 t exceeded the guidance of 27 500 t.

Total nickel in concentrate was 6 634 t, resulting in a full-year production of 26 918 t of nickel.

The Flying Fox mine produced 73 716 t of ore, at 4.7% nickel during the June quarter, for a total of 3 447 t of contained nickel, while the Spotted Quoll underground mine produced 53 465 t of ore, grading 4.8% nickel for 2 584 t of contained nickel.

The Forrestania nickel operations processed some 146 256 t of ore during the June quarter, with the Cosmic Boy concentrator producing 41 203 t of concentrate grading 16.1% nickel, for 6 634 t of nickel.

For the full year, the Cosmic Boy concentrator treated 586 254 t of ore, at an average grade of 5.1% nickel, and a total of 181 608 t of concentrate was produced, containing 26 918 t of nickel.

However, Western Areas has deferred the expansion of the Cosmic Boy mill from its nameplate capacity of 550 000 t/y to 750 000 t/y until later this year, as a result of the weaker commodity prices.

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