Business
Quarterly Production Report Q2 2011
Quarterly Production Report Q2 2011.
About this update from Antofagasta Plc
[{"type":"text","content":"\n \nRNS Number : 6477L Antofagasta PLC 03 August 2011 \n \n\nAntofagasta plc\n \nQuarterly Production Report Q2 2011\n3 Aug, 2011 \n \n \n \n· Group copper production in Q2 was 158,700 tonnes, a 22.3% increase compared with the previous quarter. This increase was mainly due to increased production at Esperanza as the ramp-up process continued and also from Los Pelambres as a result of higher ore grades and throughput. Copper production was 288,500 tonnes in the first half of 2011 compared with 252,900 tonnes in the first half of 2010. As previously announced, current estimates for 2011 Group copper production are for between 620,000 and 640,000 tonnes.\n· Molybdenum production at Los Pelambres in Q2 was 2,600 tonnes, a 13.0% increase on the previous quarter mainly due to an in increase in ore grade as well as higher throughput. Production in the first half of 2011 was 4,800 tonnes compared with 4,400 tonnes in the first half of 2010.\n· Gold production in Q2 was 48,600 ounces, compared with 22,100 ounces in the previous quarter, mainly due to the ramp-up of Esperanza. The increase over H1 2010 mainly reflects the impact of the Esperanza start-up. \n· Group cash costs (net of by-product credits) in Q2 were 103.8 cents per pound compared to 107.8 cents per pound in the previous quarter. This decrease was due to reduced costs at Esperanza reflecting the progress of the ramp-up, decreased unit costs at El Tesoro, and increased production at Los Pelambres where costs are below the Group's weighted average. Pre-credit costs were 159.4 cents per pound (Q1 2011 - 155.8 cents per pound).\n· Group cash costs (net of by-product credits) in the first half of 2011 were 105.6 cents per pound compared with 91.5 cents per pound in the first half of 2010 mainly due to higher costs at Los Pelambres and El Tesoro as well as the impact of the start of the ramp-up at Esperanza.\n \n \n \n\n\n\n...