Business
Q3 Production Report
Q3 Production Report.
About this update from Antofagasta Plc
[{"type":"text","content":"\n RNS Number : 5292V Antofagasta PLC 03 November 2010 \n \n\n \n \n \n3 November, 2010 \nAntofagasta plc\n \nQuarterly Production Report - Q3 2010\n \nHighlights\n \n· Group copper production increased by 4.1% from 135,200 tonnes in Q2 to 140,700 tonnes in Q3 mainly due to higher production at Los Pelambres. Cumulative production in the first nine months of the year was 393,600 tonnes, in line with expectations and 20.0% above the comparable period of 2009 reflecting the impact of the plant expansion at Los Pelambres.\n· The ramp up of Esperanza is expected to commence during November 2010 and the first shipment of copper concentrate is expected by the end of the year.\n· Molybdenum production at Los Pelambres was 2,200 tonnes in Q3 and 6,700 tonnes in the first nine months of the year, 15.5% above the first nine months of 2009 due to the plant expansion.\n· Group cash costs were 109.0 cents per pound in Q3 compared with 88.7 cents per pound in Q2. This increase was mainly due to a decrease in by-product credits, planned maintenance in the period at Los Pelambres, and the effect of suspending operations at Tesoro North East pit, with this lost mill feed replaced with lower grade stockpiles. Costs excluding by-product credits were 138.3 cents per pound in Q3 compared with 124.5 cents per pound in Q2.\n· Group cash costs in the first nine months of 2010 were 97.7 cents per pound compared with 92.2 cents per pound in the same period of 2009 due to higher costs at the three mining operations partially offset by improved by-product credits. Cumulative pre-credit costs of 130.7 cents are in line with expectations for the full year.\n \n\n\n\n\nGroup Total\n\n\nQ1\n2010\n\n\nQ2\n2010\n\n\nQ3\n2010\n\n\nQ4\n2010\n\n\n\n\n\nAcc\n2010\n\n\n\n\n\nAcc\n2009\n\n\n\n\n\nFull Year\n2009\n\n\n\n\nTotal production of payable copper ('000 tonnes)\n\n\n117.7\n\n\n135.2\n\n\n140.7\n\n\n\n\n\n\n\...