Xstrata ups its copper production

first_img KCS-content Xstrata ups its copper production Tuesday 19 October 2010 7:50 pm whatsapp whatsapp Sharecenter_img Show Comments ▼ Xstrata, the miner, yesterday revealed mixed third-quarter production figures for its two key products, with an increase in copper output and a fall in coal, as strong commodity prices pointed to a surge in annual profit.The Anglo-Swiss company, which has switched focus from takeovers to building mines, also released initial data about the size of a copper deposit at its joint venture in Chile.Xstrata said production of mined copper increased 10 per cent to 233,647 tonnes during the three months to the end of September, due to improved mining rates and grades.Consolidated coal output fell five per cent to 21.9m tonnes following planned mine closures in Australia and South Africa and bad weather in Colombia.Copper is the group’s most important product, accounting for 43 per cent of first-half operating profit, while coal ranks second, making up 32 per cent.“While Xstrata’s third quarter production was certainly patchy, the company is very focused on growth and the board has approved some sizeable investments during the last few months,” said analyst Charles Kernot at Evolution Securities.The group also released the first resource estimate for the West Wall project in Chile, a 50:50 joint venture with Anglo American, showing it has four million tonnes of copper.“These exploration results confirm West Wall represents an important discovery with the potential to contribute to Xstrata Copper’s project development pipeline in Chile,” the company said. The price of copper is up 24 per cent on the same period a year ago. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Tags: NULL More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comConnecticut man dies after crashing Harley into live bearnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comlast_img read more