01:20 PM EST, 12/16/2024 (MT Newswires) -- Battery Mineral Resources ( BTRMF ) on Monday said it supplied 2,755 dry metric tonnes (DMT) of copper concentrates from September to November, including 1,131 DMT delivered to Anglo American's Chagres smelter in Catemu, Chile, as per the offtake agreement with the company.

The rest of the copper concentrates produced at the Punitaqui mine operations were sold to Ocean Partners Chile. The concentrates were delivered to Terminal Portuario de Coquimbo for export.

The copper concentrates contained a weighted average of 22.33% copper, for 1.235 million pounds of copper in concentrate, the company added.

"The ongoing production and shipment of copper concentrate represents important progress in achieving our goal of 1,400 DMT per month, in the near term. The funds received from our recent transaction with Electric Royalties, combined with the increasing concentrate sales and requisite cash flows, will enable Battery to continue ramping up the supply of mill feed from our own Punitaqui mines," said CEO Martin Kostuik.

Since the Punitaqui facility was commissioned last May, Battery Minerals has shipped 5,661 DMT, for a total of 2.8 million pounds of copper in concentrate, to date. The company is working to bolster copper concentrate production results with a goal of delivering 1,400 DMT per month in the near term, reaching up to 2,800 DMT of copper concentrate production per month by the second half of next year.

Battery Minerals was last seen down $0.005 to $0.045 on the TSX Venture Exchange.

Price: 0.05, Change: -0.01, Percent Change: -10.00