Pembridge Resources PLC (LON:PERE) said its partially-owned Minto copper mine in Canada produced 5,143 wet metric tonnes of concentrate during the fourth quarter of 2020.
A total of 24,646 wet metric tonnes of concentrate were produced during 2020, up from the 7,167 wet metric tonnes produced in 2019.
The group also noted that payments of US$17.5mln were received by Minto from Sumitomo during the fourth quarter of 2020. During 2020 payments of US$64.3mln were received by Minto from Sumitomo.
"This has been a quarter of continuing development at the Minto mine, having started active production from the Copper Keel area and development in Copper Keel West area,” said Gati Al-Jebouri, chief executive of Pembridge in a statement.
“The lower volume of concentrate produced in the fourth quarter compared to the third quarter was expected and is due to the processing of slightly lower grade ore,” he added.