NEW YORK Copper production at Amerigo Resources Ltd. fell nearly 18 percent in the second quarter of 2013 after a slide at the Colihues Mine in April, the company reported.
The Vancouver, British Columbia-based company produced 9.55 million pounds of copper and 176,000 pounds of molybdenum for three months ended June 30, 2013 at its Minera Valle Central project near Rancagua Chile vs. 11.57 million pounds of copper and 229,000 pounds of molybdenum a year previously.
Production fell 36 percent year over year in April alone because of the Colihues slide but showed positive growth in May and June, Klaus Zeitler, Amerigo president and chief operating officer, said in a statement.
The company had already cut its 2013 copper production guidelines to the low end of its initial 45 million to 50 million pound estimate following the slide (amm.com, May 10
During the second and third quarters Colihues extraction rates and grades will be lower than originally anticipated, Zeitler said.
However, the company expects improvement at Colihues in the fourth quarter, Rob Henderson, Amerigos chief operating officer, added.
Amerigos second quarter copper sales also fell 12.31 percent year over year as a result of lower production. Amerigo sold 9.44 million pounds of copper in the second quarter compared to 10.76 million pounds a year ago.