Canadian mining company Luca Mining Corp. announces substantial increases in production at its Tahuehueto and Campo Morado mines, highlighting operational improvements and strategic advancements set to enhance future profitability and efficiency.
Luca Mining Corp., a Canadian mining firm, announced a significant production increase in its first-quarter report for 2024, highlighting the escalating productivity of its mines in Mexico. The company, listed on multiple stock exchanges including TSXV, OTCQX, and Frankfurt, saw an 18% rise in production at its Tahuehueto gold and silver mine in Durango, and a 25% increase at the Campo Morado copper-zinc mine in Guerrero compared to the previous quarter.
Tahuehueto, which is in the process of ramping up operations towards a daily production target of 1,000 tons, managed to produce about 3,657 troy ounces of gold equivalent during the quarter, according to figures adjusted for mineral ratios (gold, silver, copper, zinc, and lead). Meanwhile, Campo Morado produced approximately 10,491 troy ounces of gold equivalent. These figures exemplify significant progress, particularly at Tahuehueto, which is transitioning from a pre-production to a commercial production phase expected in the second half of 2024.
The company has installed a second mill at Tahuehueto that started commissioning in March 2024, operating at around 60% of its capacity. This installation is part of a broader effort to boost the site to its full operational capacity. An additional third filter press is also being planned for installation, which is likely to further enhance these operations.
At Campo Morado, ongoing improvements, including modifications in blending and reagent protocols, have already begun to yield substantial results, enhancing concentrate grades and recoveries. This optimization is part of an extensive program expecting to separate production into three concentrates – copper, zinc, and lead by the second half of the year, aiming to maximize revenue and operational cash flow.
The operational improvements at both sites underscore Luca Mining’s strategic focus on enhancing efficiency and profitability in its ventures. Campo Morado is taking strides in output quality and functional capacity, currently operating at 1,600 tons per day on its way to a full capacity of 2,400 tons per day. Innovations in ore processing and equipment enhancement are projected to boost these figures significantly in the current quarter.
These advancements highlight Luca Mining Corp.’s relentless pursuit of growth and operational excellence, evident from the ambitious projects and ongoing enhancements directed at maximizing shareholder value and stabilizing production capabilities. As these projects progress, the company is expected to move into a much stronger position within the competitive landscape of the mining industry.
The success in these endeavors represents a significant chapter in Luca Mining’s operations, reflecting not just on their production capabilities but also setting a robust foundation for future growth and sustainability in the highly fluctuous mining sector. As these facilities reach their full potential, Luca Mining Corp. is poised for a significant transformation in its operating dynamics and financial strength.