Khoemacau Records Higher Copper Output in Fourth Quarter of 2025

Khoemacau Records Higher Copper Output in Fourth Quarter of 2025. Khoemacau Copper Mining reported a strong operational performance in the fourth quarter ended 31 December 2025, delivering copper production of 10,993 tonnes in copper concentrate. This represented an 8 percent increase compared to the corresponding period in 2024, according to MMG Limited’s Fourth Quarter Production Report.

The improved quarterly outcome was supported by higher ore grades and improved metallurgical recoveries. During the quarter, the average ore milled grade increased to 1.60 percent, up from 1.49 percent in the fourth quarter of 2024. Metallurgical recovery also improved, rising to 89.7 percent from 87.1 percent in the prior corresponding period.

MMG attributed the improved grades and recoveries partly to the expansion of mining operations into Zone 5 North during the quarter. This development contributed to a stronger production profile compared to earlier periods in the year.

Operational performance in the fourth quarter was further supported by increased ore mined volumes following a ramp-up in mining activities. Production had been constrained in the third quarter of 2025 due to a temporary disruption linked to the transition to a new mining contractor. The transition affected ore availability during that period. By the fourth quarter, mining activities had stabilised, allowing production levels to recover.

For the full year ended 31 December 2025, Khoemacau produced a total of 42,120 tonnes of copper in copper concentrate. This was approximately 1,000 tonnes below the lower end of the company’s revised annual production guidance. The shortfall was primarily attributed to the reduced ore mined during the contractor transition in the third quarter.

The report also highlighted strong cost performance during the year. Full-year 2025 C1 costs, on a pre-silver stream basis, averaged US$1.97 per pound. This was below the guidance range of US$2.30 to US$2.65 per pound. The lower cost outcome was largely driven by higher silver prices, which increased by-product credits, as well as lower ore development costs recorded during the year.