This article is 13 years old. Images might not display.
Coal production was down 12% to 317,070 tonnes and revenues were down 23% to $US28,424 compared to the same quarter last year.
The Toronto-based miner blamed an “illegal” strike at La Caypa open pit last January for the loss of some 75,000t of coal.
Pacific Coal Resources chief executive Luis Carvajales said if not for the employee blockade at the mine earlier this year, results for the quarter would have been on target.
“We have been proceeding according to plan on both of our producing thermal coal properties, La Caypa and Cerro Largo,” he said.
“Our production and stripping rations would be in line with our full-year 2012 projections had we not experienced unforeseen and unavoidable production disruptions in the first quarter of 2012.
“These disruptions, while handled admirably by our personnel, did cost the company some production.”
La Caypa has a coal resource of 17.8 million tonnes (indicated) while Cerro Largo claims a resource of 11.6-21.2Mt of coal (inferred).
The miner said it completed 90% of its drilling program at the sites during the quarter and was expecting to release an updated NI 43-101 compliant technical report for the mines in Q3 and Q4 2012.
