MCX Copper Updates

Antofagasta group Copper production gained 4 percent in third quarter ending 2012. The production report from the company showed that the Copper production was 179800 tonnes in the third quarter ending 2012. The production in the first nine months of the year was 515800 tonnes, up 11.5 percent from the corresponding period last year. Higher production in Esperanza mine increased the overall production of Antofagasta. The company is expected to produce 700000 tonnes of Copper in full year ended 2012.

Esperanza mine produced 45600 tonnes of payable Copper in Q3, up 21 percent from 37700 tonnes in Q2 12. This was due to a 12.5 percent increase in ore grades as well as a 6.8 percent increase in average plant throughput from 79700 tonnes per day in Q2 2012 to 85100 tonnes per day in the current quarter.

Los Pelambres produced 98800 tonnes of payable copper in Q3 2012 compared with 101300 tonnes in Q2, reflecting a decrease in ore grades from 0.71% in Q2 to 0.67 percent in Q3, partly offset by a slight increase in plant throughput. Copper production in the first nine months of 2012 was 296000 tonnes compared with 297400 tonnes in the comparable period in 2011, due to a decrease in ore grades, partly offset by an increase in plant throughput and higher recoveries.