Business
Q4 Production Report
Q4 Production Report.
About this update from Antofagasta Plc
[{"type":"text","content":"\n RNS Number : 5995G Antofagasta PLC 03 February 2010 \n \n\n \n \nAntofagasta plc\n \n3 February 2010\n \nQuarterly Production Report - Q4 2009\n \nHighlights\n \n· Group copper production for 2009 reached 442,500 tonnes, ahead of the original forecast for the year of 433,000 tonnes. The expected decrease compared with the 2008 production of 477,700 tonnes was mainly due to lower plant throughput at Los Pelambres. \n \n· Full year molybdenum production at Los Pelambres was unchanged from 2008 at 7,800 tonnes due to marginally higher ore grades and metallurgical recoveries offset by lower throughput. \n \n· Group cash costs for 2009 were 96.3 cents per pound compared with 87.3 cents per pound in 2008. The increase in cash costs compared to 2008 was mainly due to significantly lower by-product credits (reflecting lower molybdenum prices), partially offset by a decrease in on-site and shipping costs.\n \n· Costs excluding by-product credits for 2009 were 120.3 cents per pound, 7.0% below the 2008 costs of 129.3 cents per pound. The decrease partly reflected the thorough cost reduction programme implemented from the start of 2009 as well as a general easing of market costs, although cost pressures began to return in the second half of the year. \n \n\n\n\n\nGroup Total\n\n\nQ1\n2009\n\n\nQ2\n2009\n\n\nQ3\n2009\n\n\nQ4\n2009\n\n\n\n\n\nFull Year 2009\n\n\n\n\n\nFull Year 2008\n\n\n\n\nTotal production of payable copper ('000 tonnes)\n\n\n111.9\n\n\n106.3\n\n\n109.9\n\n\n114.4\n\n\n\n\n\n442.5\n\n\n\n\n\n477.7\n\n\n\n\nTotal production of payable moly ('000 tonnes)\n\n\n1.7\n\n\n2.0\n\n\n2.1\n\n\n2.0\n\n\n\n\n\n7.8\n\n\n\n\n\n7.8\n\n\n\n\nWeighted average cash costs before by-product credits (cents per pound)\n\n\n112.1\n\n\n120.0\n\n\n118.3\n\n\n130.4\n\n\n\n\n\n120.3\n\n\n\n\n\n129.3\n\n\n\n\nWeighted average cash costs (cents per pound)\n\n\n97.5\n\n\n97.5\n\n\n81.7\n\n\n107.6\n\n\n\n\n\n96.3\n\n\n\n\n\n87.3\n\n\n\n\n \n \nMining operations\n \nLos Pelambres\n \nLos Pelambres produced 80,000 tonnes of pay...