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Production Report

11th Feb 2014 07:00

RNS Number : 7375Z
Glencore Xstrata PLC
11 February 2014
 



Production Reportfor the 12 months ended 31 December 2013

 

Following completion of the GlencoreXstrata merger on 2 May 2013, production information for all periods covered in this report has been presented on a combined basis.

Key Highlights:

- Total own sourced copper production up 26% to 1.5 million tonnes in 2013, driven by strong growth in African copper, Collahuasi, Antapaccay and Ernest Henry:

o African copper up 43% to 398,600 tonnes, as the key expansion projects, Katanga and Mutanda, successfully grow production, both reaching 200,000 tonnes p.a. capacity at the end of 2013.

o Collahuasi increased production 58% to 195,600 tonnes, with H2 2013 up 91% compared to H1 2013, as production ramped up, following the SAG mill restart and a return to higher grades.

o The Antapaccay and Ernest Henry projects are progressing well.

- Perseverance and Brunswick mines reached the end of their mine lives in June 2013, resulting in a decline in total own sourced zinc and lead production, only partially offset by the growth projects in Australia and Africa. Excluding Perseverance and Brunswick, zinc production increased by 7% in 2013.

- Koniambo started production in Q4 2013 and is in the early stages of ramp-up.

- Quarterly sequential (Q4 13 v Q3 13) increase in all Base Metal (Cu, Zn, Pb and Ni) own source production.

- Ferrochrome production up 32% to 1.2 million tonnes based on higher utilisation of the smelters and furnaces and the successful commissioning of the Tswelopele pelletizing plant.

- Own sourced gold production up 14% to 1,023,000 oz, driven by strong growth at Kazzinc and Antapaccay.

- Coal production up 4% to 138.1 million tonnes during 2013, driven by a number of key expansion projects at Prodeco and various Australian thermal coal assets.

- Successful commencement of production at Alen (Equatorial Guinea) and Badila (Chad) oil fields in 2013.

- Successful sale of the pasta and malt businesses during 2013, acquired as part of Viterra.

- The Group's resources and reserves report was also issued today, noting:

o Significant growth in Mutanda copper ore reserves and mineral resources, up respectively, 23% and 25% to 2.0 million and 7.4 million tonnes of contained copper.

o The recognition of ore reserves at Las Bambas, containing 6.9 million tonnes of copper.

o An increase of 21% in iron ore mineral resources to 4.6 billion tonnes of contained iron (100% basis), mainly as a result of increased resources at El Aouj.

o An increase of 129% to 87 mmboe in 2P net oil reserves, primarily through the recognition of acquired Chad reserves and an increase of 223% to 387 mmboe in 2C net contingent oil resources, mainly resulting from drilling in Cameroon.

 

To view the full report please click here http://www.rns-pdf.londonstockexchange.com/rns/7375Z_1-2014-2-10.pdf

 

For further information please contact:

Investors

Media

Paul Smith

t: +41 (0)41 709 24 87

m: +41 (0)79 947 13 48

e: [email protected]

Charles Watenphul

t: +41 (0)41 709 24 62

m: +41 (0)79 904 33 20

e: [email protected]

Investors

Investors

Finsbury (Media)

Martin Fewings

t: +41 (0)41 709 28 80

m: +41 (0)79 737 56 42

e: [email protected]

Elisa Morniroli

t: +41 (0)41 709 28 18

m: +41 (0)79 833 05 08

e: [email protected]

Guy Lamming

Dorothy Burwell

t: +44 (0)20 7251 3801

 

 

www.glencorexstrata.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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