Antofagasta Q1 production up year-on-year, down quarter-on-quarter

May 03, 2012 | 10:08 AM |

Chile-based miner Antofagasta saw copper production rise 25.5% in the first quarter of 2012 compared with the first three months of 2011, on a full quarter’s contribution from the Esperanza operation. Total production for the three months ended March 31 this year came to 162,900 tonnes, but was down 12.9% quarter-on-quarter, following planned maintenance and expected lower grades at Los Pelambres.  The company also experienced lower throughput at Esperanza in February and March due to damage to the feed conveyor. This has since been repaired. The Los Pelambres operation produced a total of 95,900 tonnes of payable copper, compared with 114,400 tonnes in the fourth quarter of 2011, which was a record quarter, the company said. “The decrease compared with the previous quarter was mainly due to lower plant throughput due to planned major plant maintenance in March and lower grades,” it added. Molybdenum production was 3,100 tonnes....