NEW YORK Amerigo Resources Ltd.s copper production rose in the third quarter as operations continued to recover from a mine slide earlier this year.
Vancouver, British Columbia-based Amerigo produced 11.04 million pounds of copper and 193,000 pounds of molybdenum at its Minera Valle Central project in Chile for the quarter ended Sept. 30, up 15.5 percent and 9.7 percent, respectively, from 9.6 million pounds of copper and 176,000 pounds of molybdenum in the second quarter.
However, the figures were down from the third quarter of 2012, when the site produced 12.7 million pounds of copper and 322,000 pounds of molybdenum.
A slide at the Colihues Mine in April impacted its extraction rates and yielded grades (amm.com, May 10), with the company saying Oct. 15 that its production outlook for 2013 remains at the lower end of 45 million to 50 million pounds of copper.
"Third-quarter 2013 copper production ... is expected to show continued improvement in the fourth quarter," Amerigo chairman and chief executive officer Klaus Zeitler said in a statement.
Amerigos third-quarter copper sales totaled 10.9 million pounds in the quarter at an average price of $3.19 per pound, down from 13.02 million pounds at an average $3.52 per pound a year earlier, while molybdenum sales totaled 205,000 pounds at an average price of $9.41 per pound, down from 338,000 pounds at an average of $11.64 per pound.
The company said it expects to receive environmental approvals for its Cauquenes expansion project within the next three months.