Glencore Xstrata's copper production grows in first half

14th Aug 2013 07:21

Glencore Xstrata reported a 20 per cent increase in copper production to 673,400 tonnes for the first half.The company, which merged on May 2nd, said output was driven by African copper own sourced production, up 42% over the comparable period to 171,500 tonnes.Production ramp up at Antapaccay and Mount Margaret progressed well, following respective commissioning in the second half of 2012.Zinc production was, however, down 3.0% due to declines from Brunswick and Perseverance as they reached the end of their mine lives. It was partially offset by a 7.0% growth in Australia to 298,400 tonnes and the recently acquired Rosh Pinah operation.Own sourced gold production was up 14% reflecting continued ramp up at Vasilkovskoye.Prodeco coal production rose 22% to 9.6m tonnes, boosted by successful delivery of the current expansion plan and recovery from a strike in the second half of last year.The Alen oil field project in Equatorial Guinea commenced production at the end of the second quarter, significantly ahead of schedule and under budget. Commissioning is underway with full operations expected by the end of the third quarter. The firm said it agreed to sell Joe White Maltings of Australia to Cargill Inc, subject to regulatory approvals.RD