Jefferies revises output estimate on Australian base metal miners after heavy rainfall

AIC Mines

16/03/2023 03:33

** Analysts at Jefferies say the Gulf of Carpentaria has
seen record levels of rain over the Mt.Isa region, which is home
to several Australian base metal miners
    ** Brokerage expects CY23 production at Capricorn copper
mine for 29Metals  29M.AX  to be 9.8 kt after the co withdrew
its 2023 forecast 
    ** Jefferies trims FY23 copper output estimates at Evolution
Mining's  EVN.AX  Ernest Henry operations to 51.3kt from 60.2 kt
as EVN let the market know about activities suspension earlier
in the week
    ** Smaller player AIC Mines  A1M.AX  said its Eloise copper
mine was largely unaffected by the rain; Jefferies narrowly
trims March-quarter output estimates to 2.7kt of copper from
2.9kt   urn:newsml:reuters.com:*:nASXbMn2Gk
  
    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))