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Consolidated Minerals Limited ('Consmin' or the 'Company') Report for the Third Quarter Ending 30 September 2012
By: PR Newswire
Nov. 29, 2012 05:01 AM
ST HELIER, Jersey, November 29, 2012 /PRNewswire/ --
Consmin, a leading manganese ore producer with mining operations in Australia and Ghana, announces its quarterly results for the period ended 30 September 2012.
Commenting on the results, Jackie Callaway (CFO of Consmin) said:
"Consmin has again produced a strong operational performance in the quarter with a 6% increase in the volumes of manganese ore produced and a 17% increase in the volume of chromite ore produced compared to the same quarter of the previous year.
Manganese C1 cash costs have continued to reduce each quarter from a peak of $3.78 in Q2 2011 to $2.93 in Q3 2012 as a result of the successful implementation of cost reduction initiatives.
The Australian operations have issued an updated resources and reserves statement. Total Australian resources have increased 22% and reserves have increased 8% compared to the June 2011 resources and reserves statement."
About Consolidated Minerals Limited
Consmin is a leading manganese ore producer within mining operations in Australia and Ghana. The principal activities of the Company and its subsidiaries (the "Group") are the exploration, mining, processing and sale of manganese products. The Group's operations are primarily conducted through four major operating/trading subsidiaries; Consolidated Minerals Pty Limited (Australia), Ghana Manganese Company Limited (Ghana), Manganese Trading Limited (Jersey) and Pilbara Trading Limited (Jersey).
Consolidated Minerals Limited is headquartered in Jersey and the address of its office is Commercial House, 3 Commercial Street, St Helier, Jersey, Channel Islands, JE2 3RU.
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