Chile, Antofagasta said molybdenum quarter decline in production
According to reports, the Chilean Antofagasta company molybdenum production fell 16.1% in the first quarter, and compared with the previous quarter fell 3.7% to 2600 tons, but gold output in the first quarter of 86200 ounces, up 35.7% from a year earlier, but fell 0.2% last quarter. The company reiterated that it will achieve the goal of produce about 2013 tons of copper in 2013, from 709000 tons last year. As a by-product of copper production, gold and molybdenum production in 2013 is expected to decrease 13% and 34% respectively, to 260000 ounces and 8000 tons.
Deduction of by-product gold and molybdenum in terms of cost, quarter sales cash cost compared with the previous quarter increased by 1.8%, to $1.155 a pound, mainly due to Los Pelambres cash cost increase, partly offset by Esperanza ore cash costs decline.In addition, the Chilean Antofagasta copper producers company said on Wednesday that it is still expected to achieve production target for this year in the first quarter this year copper production in line with expectations. The first three months of this year, the company says copper output of 183800 tons, up 12.8% from a year earlier, due to its Esperanza ore production speed increase. But copper production fell 5.2% last quarter, affected by Los Pelambres miners factory maintenance.
In the first quarter of this year, Los Pelambres ore part cash cost increase due to new energy contract, because the company is now energy prices are higher than before the contract price. Cash cost reduction, which partially offsets the Esperanza ore mine in the quarter ended the major repair work. Esperanza ore in the first quarter, the company says the average daily processing capacity of 91400 tons, is higher than that in the fourth quarter of 89200 tons, but the copper production decrease, affected by the product inventory movement. Repair effect.
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