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Pembridge Resources makes third copper concentrate shipment from Minto mine


Pembridge Resources PLC (LON:PERE) has announced its third shipment of copper concentrate following the reopening of the Minto mine in Yukon, Canada

The shipment left the port of Skagway on board the bulk carrier ‘Ernst Oldendorff’ and is on its way to Niihama in Japan, the company said.

It measured 3,900 wet metric tonnes, representing the mine’s production from August 2020.

READ: Pembridge optimistic as copper price picks up

The company, meanwhile, noted that in keeping with established risk mitigation policies, 90% of the copper content of the concentrate has been hedged at a price of $3.498 per pound.

The Minto mine continues to produce concentrate and will be able to transport further loads to Skagway when the annual ice bridge across the river becomes available in the new year, Pembridge added.

“This third shipment of copper concentrate is a further landmark for the Minto team, who have maintained operations and continued developing the mine through the challenges of Covid-19 quarantine requirements,” said Gati Al-Jebouri, Pembridge chief executive in a statement.

“It is particularly satisfying that the increased copper price is further rewarding their hard work,” he added.

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