Strengthening copper prices and dwindling stock levels worldwide were the impetus to ramp up production, according to Matrix chief executive officer, Andrew Chapman.

“Analysts project the copper industry is moving into an upward cycle and worldwide demand for copper is increasing as stockpiles decline to five-year lows,” he said.

The company aims to boost its annual copper output to between 18,000-20,000 tonnes per annum within three years.

Preparations are well underway for the opening up of two new pits at the Mt Cuthbert site, scheduled progressively to the end of October.

Ore from Mt Cuthbert’s Dobbyn pit was delivered to the newly constructed leach pad last week, and leaching of the first additional copper production is scheduled for next week.

The company is also seeking proposals for the completion of a feasibility study for the Mt Cuthbert plant capacity upgrade, and work has begun on extending the operations mine life.

Development plans for the White Range project, 35km south of Cloncurry, Queensland, are almost complete.