Sales of concentrates from the Bunker Hill silver-lead-zinc mine in Kellogg, Idaho, reached a value of $1.84 million in the second quarter for a total of $3.49 million in the first half of 1989.
In July the company began shipping its zinc concentrate to Cominco Ltd.’s smelter at Trail, B.C., under the terms of a 4.5-year contract.
This arrangement is expected to result in substantial savings in transportation costs and working capital as compared with the company’s previous contracts with overseas smelters.
An accelerated reserve expansion program during the second quarter added about two million tons to the reserve base. This program, combined with a number of capital improvements to upgrade efficiency and productive capacity ($2.3 million in the 1989 second quarter alone), is aimed at bringing the mine up to an operating rate of 2,600 tons per day by yearend.
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