23rd Jan 2014 14:41
LONDON (Alliance News) - Copper firm First Quantum Minerals PLC Thursday said total copper production in the fourth quarter increased 35% to 114,791 tonnes compared with the same period in 2012.
The company, which, reported a record quarter production of coal at its Kansanshi mine in Zambia of 72,602 tonnes, while 29,306 tonnes was acquired at its Las Cruces, Çayeli and Pyhäsalmi operations in Turkey.
Limited local smelting capacity in Zambia however, did continue to impact Kansanshi's sales volumes of copper concentrate and gold, the firm.
Total nickel production also increased 25% during the period to 12,634 tonnes, with a record quarter recorded at Ravensthorpe of 10, 244 tonnes.
Platinum and palladium production of 7,993 ounces and 6,600 ounces, respectively, was recorded from Kevitsa in Finland.
During the period, the company started mining zinc at its Çayeli and Pyhäsalmi operations
The stock was trading at 1,099.00 pence Thursday afternoon, down 37.00 pence or 3.3%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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