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Equinox Minerals Ltd (ASX:EQN) has increased its production guidance for its wholly owned Lumwana Copper Mine in Zambia, to 140,000 tonnes of copper in concentrate per year.
The mining and exploration company says the September quarter production result for Lumwana was strong, delivering just over 38,000 tonnes of copper in concentrate.
Adding, that the mine continued to increase total material movement by an average of more than 10 million tonnes per month to achieve the best quarterly result to date.
Equinox says the result is due to continued operational improvements with longer working faces, as well as larger blasts and higher benches, leading to better equipment productivity.
Equinox advises it will continue to focus on optimizing the potential of Lumwana, while also conducting an international search for mergers and acquisitions.
Equinox Minerals posted a net profit of $124.3 million for the year to 30 June 2010.
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