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Southern claims Q2 copper outcome down 2.7% on year on decreasing ore qualities
from web site
Southern Copper posted a 2.7% decrease in second-quarter copper production as a result of declining ore qualities at its Peruvian mines.
Copper output fell to 221,384 mt in the quarter from 227,495 mt a year back, the Phoenix-based firm stated Thursday in a statement. Molybdenum production climbed 1.8% to 5,403 mt, while silver fell 2.6% to 3.99 million oz and zinc was down 11% to 17,815 mt.
Southern claimed it marketed copper at $2.58/ lb on the Comex, up 21% from a year earlier, while zinc leapt 35.6% to $1.18/ pound, silver rose 2.1% to $17.19/ oz and also molybdenum climbed 16% to $8/lb.
hedp na2 cut money prices internet of byproducts to 93 cents/lb in the quarter from 95 cents/lb the previous year, while capital investment totaled $252 million, with the bulk of spending on the $1.2 billion Toquepala expansion in Peru.
Southern, which in 2014 completed a $3.5 billion expansion at its Buenavista mine in Mexico, claimed it is servicing detailed engineering at a $413 million, 80,000 mt/year zinc concentrator plant at Buenavista which is slated to begin operating in 2020. The $159 million, top-quality Pilares project near its La Caridad mine is also anticipated to add 34,500 mt/year of copper in 2019.
In Peru, Southern has actually spent 650.2 million to date on an expansion of its 100,000 mt/d Toquepala concentrator plant to 217,000 mt/d. The project is 70% due and also total for completion by Q2 2018. A $50 million HPGR system at the mine will be finished by Q1 2018, Southern said.
The company has actually spent $184.4 million to day in a $215.5 million conveyor belt and also a 43.8 million mt/year crusher at its Cuajone mine, which is 99% total and also is to be completed by Q3 2017. A $30 million tailings thickener project is set up for conclusion in Q3.
Southern enhanced its Q2 by 35% to $299.7 million as sales increased 14.6% to $1.53 billion. The firm is trusting developments at 3 of its mines to increase annual copper manufacturing to 1.2 million mt by 2021.
Copper output fell to 221,384 mt in the quarter from 227,495 mt a year back, the Phoenix-based firm stated Thursday in a statement. Molybdenum production climbed 1.8% to 5,403 mt, while silver fell 2.6% to 3.99 million oz and zinc was down 11% to 17,815 mt.
Southern claimed it marketed copper at $2.58/ lb on the Comex, up 21% from a year earlier, while zinc leapt 35.6% to $1.18/ pound, silver rose 2.1% to $17.19/ oz and also molybdenum climbed 16% to $8/lb.
hedp na2 cut money prices internet of byproducts to 93 cents/lb in the quarter from 95 cents/lb the previous year, while capital investment totaled $252 million, with the bulk of spending on the $1.2 billion Toquepala expansion in Peru.
Southern, which in 2014 completed a $3.5 billion expansion at its Buenavista mine in Mexico, claimed it is servicing detailed engineering at a $413 million, 80,000 mt/year zinc concentrator plant at Buenavista which is slated to begin operating in 2020. The $159 million, top-quality Pilares project near its La Caridad mine is also anticipated to add 34,500 mt/year of copper in 2019.
In Peru, Southern has actually spent 650.2 million to date on an expansion of its 100,000 mt/d Toquepala concentrator plant to 217,000 mt/d. The project is 70% due and also total for completion by Q2 2018. A $50 million HPGR system at the mine will be finished by Q1 2018, Southern said.
The company has actually spent $184.4 million to day in a $215.5 million conveyor belt and also a 43.8 million mt/year crusher at its Cuajone mine, which is 99% total and also is to be completed by Q3 2017. A $30 million tailings thickener project is set up for conclusion in Q3.
Southern enhanced its Q2 by 35% to $299.7 million as sales increased 14.6% to $1.53 billion. The firm is trusting developments at 3 of its mines to increase annual copper manufacturing to 1.2 million mt by 2021.
