GlencoreXstrata’s ferrochrome up 32%, African copper up 43%
JOHANNESBURG (miningweekly.com) – LSE- and JSE-listed diversified miner GlencoreXstrata on Tuesday reported firm increases in its South African and African production of ferrochrome, copper and oil in the 12 months to December 31.
Production of ferrochrome from the company, headed by CEO Ivan Glasenberg, rose 32% to 1.2 million tons on better utilisation of smelters and furnaces and the successful commissioning of the Tswelopele pelletising plant in South Africa.
Total own-sourced copper production rose 26% to 1.5-million tons, driven by strong growth in African copper, Collahuasi, Antapaccay and Ernest Henry.
Central African copper on its own rose 43% to 398 600 t, as the key expansion projects, Katanga and Mutanda, grew production, both reaching 200 000 t/y capacity.
Collahuasi increased production 58% to 195 600 t, with second-half production up 91% compared with the first half of 2013, following the semiautogenous mill restart and a return to higher grades.
While the Antapaccay and Ernest Henry projects are progressing, Perseverance and Brunswick mines reached the end of their mine lives in June, 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, which started production in the fourth quarter, is in the early stages of ramp-up.
Coal production rose 4% to 138.1-million tons, driven by expansion projects at Prodeco and various Australian thermal coal assets.
Oil production has begun at Alen, in Equatorial Guinea and Badila, in Chad.
In resources and reserves, growth in Mutanda copper ore reserves were up 23% to two-million tons of copper and resources rose 25% to 7.4-million tons of copper.
Ore reserves at Las Bambas contain 6.9-million tons of copper and iron-ore mineral resources are up 21% to 4.6-billion tons of contained iron (100% basis).
An increase of 129% to 87-million barrels of oil equivalent (mmboe) in proven plus probable net oil reserves, primarily through the recognition of acquired Chad reserves and an increase of 223% to 387 mmboe in net contingent oil resources, mainly from drilling in Cameroon.
Own-sourced gold production rose 14% to 1 023 000 oz, driven by strong growth at Kazzinc and Antapaccay.
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