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January 16, 2014
09:34 EDTARSDArabian says FY13 copper, zinc shipments exceeded internal plans
Arabian American Development says "We are pleased that for the first full calendar year of production, AMAK exceeded initial budget plans for both running time and mill throughput. As a result of better than anticipated reliability in 2013 and increased mine efficiencies, both copper and zinc shipments also exceeded internal plans. AMAK will process a mixture of development ore as the underground development continues near the main ore bodies, therefore, we expect continued fluctuations in the grade of ore mix recovered. We do not anticipate the third ore body to be fully developed until 2015. As AMAK works its way into the second and third ore bodies in 2014, the product mix is projected to contain more zinc than recovered in the initial production obtained from the first ore body. In addition, a scheduled two week maintenance shutdown on the ore processing mill is planned for the June 2014 timeframe which will affect overall production. Therefore, as previously disclosed, we expect 30K metric tons of copper concentrate and 41K metric tons of zinc concentrate to be produced in the coming year. We also expect AMAK to have their precious metals circuit operational by the middle of the year, but the modifications will have to be proven effective prior to disclosing any projections on gold and silver recovery."
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