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May 27, 2017

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Miner Xstrata Q3 copper production dips

LONDON -- Miner Xstrata reported a dip in third-quarter copper volumes, dented by its shift to new operations but also by ongoing trouble at the giant Collahuasi mine, where production fell 44 percent.

Xstrata, the world's fourth-largest copper miner, said its total production of the red metal dropped to 187,800 metric tons in the quarter, above the preceding three months but 16 percent below the same period a year earlier.

The miner, in the throes of a US$32 billion takeover by trader Glencore, said it expects the impact of a turnaround plan at Chile's Collahuasi mine — which it controls with peer Anglo American — and improved grades to improve throughput there in the fourth quarter.

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