Gold production cuts do not reduce profits; Hutchinson shifts from gold mining to copper refining in Australia

Golden Ten Data reported on March 11 that Hutchinson Gold Mining Company developed its first batch of copper mines in the first half of its fiscal year. Currently, the company is committed to expanding into the field of key metals in this energy transition. The gold miner, listed in Johannesburg, announced that its CSA mine in Australia produced a total of 3,913 tons of copper concentrate in the six months ending December. As South Africa's largest gold producer, Hutchinson is increasing its investment in copper through two projects in Australia to take advantage of the rising copper prices. In addition to acquiring the CSA mine in New South Wales, the company also launched the construction of the Eva copper mine in Queensland at the end of last year. In its semi-annual performance report released on Wednesday, the company stated that the transition to copper enables miners to benefit from the long-term demand for future-oriented metals. The output reached 724,000 ounces. This was mainly due to mechanical failures at the Hidden Valley mine in Papua New Guinea and challenges in obtaining cyanide in its South African operations.