Published: Feb. 13, 2024 at 6:57 p.m. ET
New Gold Inc. said it expects higher copper production in 2024.
On copper production:
The company says 2024 copper production is expected to be 50 million to 60 million pounds, approximately 16% higher than 2023 driven by an increased contribution from C-Zone at New Afton.
On…
New Gold Inc. said it expects higher copper production in 2024.
On copper production:
The company says 2024 copper production is expected to be 50 million to 60 million pounds, approximately 16% higher than 2023 driven by an increased contribution from C-Zone at New Afton.
On 2024 gold production:
New Gold says 2024 consolidated gold production is expected to be 310,000 to 350,000 ounces, compared to 321,178 in 2023. Production is expected to strengthen in the second half of the year, with the second half of 2024 expected to represent approximately 60% of annual production as waste stripping at Rainy River is sequenced in the first half of the year. Copper production in 2024 is expected to be 50 million to 60 million pounds, approximately 16% higher than in 2023, driven by increased contribution from C-Zone at New Afton.
On capital spending and 2026 production:
The company says 2024 is expected to be the final year of significant capital spending, as it starts to realize the benefits of these expenditures. As a result, consolidated gold production is expected to increase by approximately 35% over 2023 to 410,000 to 460,000 ounces in 2026. Copper production is expected to increase by approximately 60% compared to 2023 to 71 to 81 million pounds in 2026.
Write to Matthew Walker at matthew.walker@dowjones.com
