Xstrata's copper shift
1st Feb 2012
ZURICH, Feb 1 – Global miner Xstrata is relying on the transition to new lower-cost production sources from the second half of 2012 to restore its copper output after recording a 3% fall in output through 2011.
The Swiss-based company says a number of its current copper operations around the world are approaching the end of their mine life.
Ernest Henry copper in concentrate production rose 34% year-on-year to 100,300t from stockpiles and the final high grade ore zone of the open pit operation despite the conversion to an underground mine.
Global coal production rose 7% to 85.3Mt consolidated. Australian thermal coal operations achieved record production of 49.8Mt following commissioning of the greenfield Mangoola mine on budget and ahead of schedule, the expansion of Newlands Underground thermal coal operation and a strong second half performance.
Nickel production was also a record at 105,925t, up 15%. The Falcondo ferronickel operation in the Dominican Republie came out of a 30-month shutdown to produce 13,498t in just 11 months. First ore was produced ahead of schedule from the Kikialik expansion at Raglan mine and Nikkelverk continued record nickel metal volumes.
Strong performance by the Australian zinc mines helped offset substantially lower volumes during the planned mining of copper-rich ores at the joint venture Antamina mine and slightly lower volumes from Canadian operations.
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- VIEW FROM THE WEST END
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