31st Oct 2013 07:43
ZUG (Alliance News) - Commodities trader and natural resources firm Glencore Xstrata PLC (GLCNF.PK, GLNCY.PK, GLEN.L) reported that its nine-month total own sourced copper production grew 23% year-over-year to 1.07 million tonnes, driven by the key growth projects at Katanga, Mutanda, Antapaccay and Ernest Henry and improved production from Collahuasi.
African copper own sourced production totaled 276,700 tonnes, a 37% growth over the comparable period. Own sourced cobalt production was 12,000 tonnes, up 60% year-on-year, reflecting the expansion projects at Katanga and Mutanda.
The Group's share of copper production at Collahuasi was 130,800 tonnes, a 43% increase over last year. Production since June reflected a marked improvement over the first five months of 2013 and the levels achieved in 2012, reflecting the strong ramp up following restart of the SAG mill and a return to higher ore grades.
The company's marketing profitability continued to be broadly in line with view, with metals and energy remaining the strongest, however the firm is also witnessing an improvement in agricultural performance.
Copyright RTT News/dpa-AFX
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