Mining giant Antofagasta saw full-year production rise 22.9% to surpass its earlier guidance after a strong end to the year.
Group copper production rose 13.3% in the fourth quarter to 187,000 tonnes, helping full-year production increase to 640,500 tonnes, compared with 521,100 tonnes in 2010. Antofagasta said that the full-year result was due to the start-up of Esperanza and increased throughput at Los Pelambres in Chile.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Meanwhile, 2011 molybdenum rose 12.5% to 9,900 tonnes helped by higher plant throughput as a result of the plant expansion which was completed during 2010. Molybdenum output is expected to rise to 11,000 tonnes this year.
The ramp-up of Esperanza also helped full-year gold production surge from just 35,100 ounces to 196,800 ounces in 2011. Some 280,000 ounces are expected to be produced in 2012.
BC
-
Would you delay retirement to help your children through university?Parents are missing out on as much as £45,000 that could have gone into their pensions because they are using that money to pay their children’s way through university, according to new research
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoidA couple faces a substantial stamp duty bill after trying to reduce the amount they owed
