🕐29.10.14 - 09:27 Uhr
ANTOFAGASTA PLC ALERT SERVICE
Q3 2014 PRODUCTION REPORT
Q3 2014 Production Report
Full year guidance remains unchanged
HIGHLIGHTS
PRODUCTION
- Copper production in Q3 2014 was 169,200 tonnes, a 5.0% decrease compared with the previous quarter, principally due to lower throughput at Los Pelambres and Centinela concentrates
- Copper production in the first nine months of the year was 3.9% lower than in the same period last year primarily due to lower grades
- Gold production was 64,700 ounces in Q3 2014, a 3.4% decrease on Q2 2014 due to lower throughput at Centinela concentrates as a result of planned maintenance, which was partly offset by higher grades
- Molybdenum production at Los Pelambres was 2,300 tonnes in Q3 2014, compared with 1,600 tonnes in the previous quarter, principally due to higher grades
CASH COSTS
- Cash costs before by-product credits in Q3 2014 were $1.85/lb, a 2.6% decrease compared with Q2 2014.
This decrease mainly related to lower energy costs at Los Pelambres and the one-off signing bonus between Centinela concentrates and its labour unions that was paid in Q2 2014
- Cash costs before by-product credits for the first nine months of the year at $1.86/lb were 3.9% higher than in the corresponding period last year due to the one-off signing bonuses paid this year at Los Pelambres and Centinela concentrates and the completion of mining activities at the lower cash cost Mirador pit by Centinela cathodes in 2013
- Net cash costs for the first nine months of 2014 were $1.44/lb, 8.3% higher than the same period last year primarily due to higher cash costs before by-product credits and lower realised gold prices
GUIDANCE
- The Group remains on track to meet its full year guidance of 700,000 tonnes of copper, 270,000 ounces of gold and 7,500 tonnes of molybdenum and net cash costs of $1.45/lb
OTHER
- As part of the programme to reduce power costs, the El Arrayán wind farm was commissioned in July and now provides Los Pelambres with some 20% of its power needs.
Following this, in September 2014, Los Pelambres signed Power Purchase Agreements with two solar power providers for a total of 50MW of power
GROUP PRODUCTION AND CASH COSTS |
Q3 |
Q2 |
|
YTD |
|
2014 |
2014 |
% |
2014 |
2013 |
% |
Copper production |
kt |
169.2 |
178.8 |
(5.0) |
517.3 |
538.3 |
(3.9) |
Gold production |
koz |
64.7 |
67.0 |
(3.4) |
188.5 |
230.6 |
(18.3) |
Molybdenum production |
kt |
2.3 |
1.6 |
43.8 |
5.5 |
6.7 |
(17.9) |
Cash costs before by-product credits |
$/lb |
1.85 |
1.90 |
(2.6) |
1.86 |
1.79 |
3.9 |
Net cash costs |
$/lb |
1.42 |
1.45 |
(2.1) |
1.44 |
1.33 |
8.3 |
Products & Services | Jobs
|