London ·
Quintel Corporation Limited today reported production for the six months ended 30 June 2026. Group copper production was 79.4 kt, 9% higher than the comparable period in 2025, driven by the continued ramp-up of underground mining at the Mbengwe Copper Complex in Zambia.
Gold production of 104.1 thousand ounces was 2% higher. Manganese production of 0.98 Mt was 4% higher, with both Gamagara and Nyanga benefiting from improved rail availability. Bauxite shipments of 2.28 Mt were 6% higher, ahead of the seasonal wet-season slowdown in Guinea.
The Tazoult silver mine in Morocco, acquired on 20 February, contributed 1.42 million ounces of silver in the period from acquisition. Production there was interrupted for eleven days in March while a rewritten ground support standard was implemented underground.
Production summary
| Commodity | H1 2026 | H1 2025 | Change | FY2026 guidance |
|---|---|---|---|---|
| Copper (kt) | 79.4 | 72.8 | +9% | 155 – 165 |
| Gold (koz) | 104.1 | 102.4 | +2% | 205 – 220 |
| Manganese (Mt) | 0.98 | 0.94 | +4% | 1.95 – 2.10 |
| Bauxite (Mt) | 2.28 | 2.15 | +6% | 4.60 – 4.90 |
| Cobalt (kt) | 1.94 | 1.83 | +6% | 4.00 – 4.30 |
| Silver (Moz) | 1.42 | — | n/a | 3.20 – 3.50 |
Silver is reported from 20 February 2026, the date Quintel assumed operatorship at Tazoult. There is no comparable prior-period figure.
Underground mining at Mbengwe contributed 31% of concentrator feed in the period, up from 24% a year earlier, at approximately twice the grade of open pit ore. The second phase of the underground materials handling project, approved in June, is on schedule for commissioning in the fourth quarter of 2027.
Unit costs were broadly stable. Copper C1 cash cost for the half was US$1.69 per pound and gold all-in sustaining cost was US$1,141 per ounce, both within full-year guidance ranges.
“This was an unremarkable six months, which in mining is the highest compliment available,” said Thandeka Mokoena, Chief Executive. “The plants ran, the trains ran, nobody was seriously hurt, and the underground ramp at Mbengwe did what the plan said it would do. We are reiterating full-year guidance across every commodity, including the Tazoult range we set in February.”
The group recorded no fatalities in the period. The total recordable injury frequency rate was 1.88 per million hours worked, against 1.94 for the 2025 full year.
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About QuintelCorp
Quintel Corporation Limited is a privately held mining group founded in 1996. It operates seven mines and two development projects across nine African countries, producing copper, gold, silver, manganese and bauxite, and employs 6,400 people directly with a further 3,100 contractors.
Forward-looking statements
This release contains forward-looking statements, including production guidance, project schedules, cost estimates and target dates. Forward-looking statements are subject to risks and uncertainties, including commodity price movements, operational performance, geological outcomes, regulatory decisions and logistics availability, and actual results may differ materially. Mineral resource and ore reserve figures are reported in accordance with the JORC Code (2012), or the SAMREC Code (2016) for South African assets, and are reviewed annually by an independent Competent Person.