SÃO PAULO Amerigo Resources Ltd. subsidiary Minera Valle Central SA (MVC) saw first-quarter copper output fall 7.5 percent at its operations in Chile.
Copper production totaled 12.83 million pounds, down from 13.87 million pounds in the first three months of 2012.
MVC, which processes copper and molybdenum concentrate found in tailings from Codelcos El Teniente Mine, the worlds biggest underground mine, said its copper prices in the quarter averaged $3.52 per pound ($7,760 per tonne), before treatment and refinery charges, vs. $3.55 per pound ($7,826 per tonne) a year earlier.
MVCs molybdenum production totaled 258,000 pounds in the first quarter, up from 216,000 pounds in the first three months of 2012.
"Although copper production during the quarter was lower than the record production (in the first quarter of 2012), molybdenum production was 19 percent higher and the company is on track to meet or exceed 2013 guidance of 45 million to 50 million pounds of copper and 1 million pounds of molybdenum," said Klaus Zeitler, president and chief executive officer of Vancouver, British Columbia-based Amerigo Resources.
A version of this article was first published by AMM sister publication Metal Bulletin.