Business
Quarterly Production Report - Q1 2011
Quarterly Production Report - Q1 2011.
About this update from Antofagasta Plc
[{"type":"text","content":"\n \nRNS Number : 8906F Antofagasta PLC 04 May 2011 \n \n\n \n \n \nAntofagasta plc\n \nQuarterly Production Report Q1 2011\n \n4 May, 2011 \n \nHighlights\n \n· Group copper production in Q1 was 129,800 tonnes, a 10.3% increase compared with the same period in 2010. This increase was mainly due to increased production at Los Pelambres, reflecting higher throughput as a result of the plant expansion. Production was marginally ahead of the previous quarter.\n· Esperanza made its first shipment of copper on 27 January 2011 following the start of commissioning of the plant in November 2010. Ramp-up of the plant continued during Q1 2011 with the production of 7,400 tonnes of copper in concentrate. \n· Group copper production for Q1 was approximately 29,000 tonnes below the initial forecast reflecting the impact of lower than budgeted grades at Los Pelambres and the longer ramp-up period at Esperanza. Production for the remainder of the year at Los Pelambres is expected to be in line with the initial forecast and at Esperanza will depend on the precise timing and completion of the ramp-up of the operation. The ramp-up process at Esperanza is expected to be completed with the full design capacity of 97,000 tonnes of ore per day being achieved during the course of the second quarter, with a peak daily throughput level of approximately 90,000 tonnes reached by the end of April. While longer than initially expected, this remains within normal limits for a large-scale project of this nature.\n· Molybdenum production at Los Pelambres in Q1 was 2,300 tonnes, a 9.3% increase on the previous quarter mainly due to the higher plant throughout. \n· Gold production in Q1 was 22,100 ounces including 15,000 ounce...