MINCOR’S
DAVID MOORE
MANAGING DIRECTOR
MINCOR RESOURCES NL
Mincor Resources is rapidly earning a reputation as one of the
most resilient junior mining stocks in Australia. At a time when
industry-wide costs are rapidly rising and commodity prices have
fallen, Mincor was able to deliver an enviable 27% reduction in
cash operating costs for FY2012.
The Kambalda nickel miner is set to ramp up new growth
initiatives, including a significant new exploration venture in
Papua New Guinea (PNG) and increased near-mine and regional
exploration in Kambalda.
Mincor’s Managing Director, David Moore, who has already
steered Mincor through two bouts of plunging nickel prices since
the global financial crisis, says the restructuring of its Kambalda
nickel operations last year has paid significant dividends,
helping to improve efficiencies, cut costs, maximise grade and
increase operating margins.
The main change was the move to owner-mining at our
South Kambalda operations, changing the structure of our
workforce from fly-in, fly-out to residential and the highly
successful implementation of that strategy by our site
personnel,” he told
Minesite
.
The results have been exceptional. Our average cash
operating cost for the year was $5.78 per pound (lb), down
from $7.95/lb, against an average realised nickel price for the
year of $8.89/lb. That means we still made a cash margin of
GROWINGHORIZONS
MINESITE 2012
80