Coal production up 7.0 per cent annually at Xstrata

FTSE 100-listed metal mining company Xstrata has posted strong results for its production in the 12 months to December 31st, a financial update from the company has shown.

FTSE 100-listed metal mining company Xstrata has posted strong results for its production in the 12 months to December 31st, a financial update from the company has shown.

The group, which operates in South Africa, Australia as well as the Carribean, reported record annual thermal coal production, which it said reflected the commissioning of the group's Ravensworth North, Ulan West and Ulan open cut projects in Australia.

Total consolidated coal production reached 90.4m tonnes, 7.0% more than was produced in 2011.

Productivity improvements at Cerrejon and a continued transition of the group's South African thermal coal operations were described as additional contributing factors.

Total nickel production was 106,873 tonnes, representing an increase on the record volumes the company recorded in 2011.

The increase was supported by a full year's production of 15,186 tonnes of nickel in ferronickel from Xstrata's Falconado operation in the dominican Republic.

In addition to strong coal and nickel production, the group reported that construction had been completed on Line 1 at the Koniambo ferronickel operation in New Caledonia.

Following the Line 1 furnace heat during February 2013, the group reported that it expected to be gebnerating commercial grade ferronickel by the end of March.

MF

Recommended

Too embarrassed to ask: what is short selling?
Too embarrassed to ask

Too embarrassed to ask: what is short selling?

Short sellers are often accused of unfairly driving share prices down to make a quick buck. But short selling is a perfectly legitimate – if risky – t…
26 Jan 2021
Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

The FTSE 100 is set for a makeover with an influx of new tech stocks
UK stockmarkets

The FTSE 100 is set for a makeover with an influx of new tech stocks

The FTSE 100 – the dullest index in the world – is about to reinvent itself as a host of new firms list on the market. The change is long overdue, say…
24 Jan 2021
Think Tesla is a bubble? This might be the best way to bet on it bursting
Oil

Think Tesla is a bubble? This might be the best way to bet on it bursting

The huge rise in Tesla’s share price means that, by market value, it’s now the sixth-largest company in the US and and the world’s biggest car-maker. …
25 Jan 2021
Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021