Business
Quarterly Production Report Q
Quarterly Production Report Q.
About this update from Antofagasta Plc
[{"type":"text","content":"\n RNS Number : 6513M Antofagasta PLC 03 February 2009 \n \n3 February, 2009\n\nAntofagasta plc\n\nQuarterly Production Report Q4 2008\n\n\nHighlights\n\n\n\nGroup copper production for 2008 reached 477,700 tonnes, an increase of 11.6% over 2007 production of 428,100 tonnes mainly due to higher plant throughput and better ore grades at Los Pelambres. Production was also ahead of the original forecast of 463,000 tonnes.\n\n\n\n\n\nFull year molybdenum production at Los Pelambres decreased to 7,800 tonnes (2007 - 10,200 tonnes), mainly due to lower molybdenum grades, offset by higher throughput and metallurgical recoveries. Production was nevertheless ahead of the original forecast of 6,800 tonnes.\n\n\n\n\n\nGroup cash costs for 2008 were 87.3 cents per pound compared with 31.6 cents per pound in 2007, mainly due to lower by-product credits (reflecting lower molybdenum prices and volumes) as well as expected higher on-site and shipping costs, although these were partly offset by lower tolling charges. The significant increase in cash costs from 76.4 cents in Q3 to 127.7 cents in Q4 resulted almost entirely from the effect on by-product credits of the sharp decline in molybdenum prices including related provisional pricing adjustments during the quarter.\n \n \n\n\n\n\nGroup Total\n\n\nQ1\n2008\n\n\nQ2\n2008\n\n\nQ3\n2008\n\n\nQ4\n2008\n\n\n\n\n\nFull Year\n2008\n\n\n\n\n\nFull Year 2007\n\n\n\n\nTotal production of payable copper ('000 tonnes)\n\n\n114.6\n\n\n119.0\n\n\n123.7\n\n\n120.4\n\n\n\n\n\n477.7\n\n\n\n\n\n428.1\n\n\n\n\nTotal production of payable moly ('000 tonnes)\n\n\n1.8\n\n\n2.0\n\n\n1.9\n\n\n2.1\n\n\n\n\n\n7.8\n\n\n\n\n\n10.2\n\n\n\n\nWeighted average cash costs before by-product credits (cents per pound)\n\n\n129.5\n\n\n131.9\n\n\n130.4\n\n\n125.4\n\n\n\n\n\n129.3\n\n\n\n\n\n110.7\n\n\n\n\nWeighted average cash costs (cents per pound)\n\n\n72.2\n\n\n72.3\n\n\n76.4\n\n\n127.7\n\n\n\n\n\n87.3\n\n\n\n\n\n31.6\n\n\n\n\n\n\n\n\n\nMining operations\n\nLos Pelambres\n\nLos Pelambres produced 85,400 tonnes of payable copper in Q...