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«Antofagasta»: Copper production decreased

One of the largest global suppliers of the red metal, the British company «Antofagasta Plc», a 7.8% decline in volume of metal produced in the first quarter of this year compared with the same period last year, which amounted to 169.4 thousand tons overall. This state of affairs is due to the planned maintenance works conducted on the «Esperanza» project and «Los Pelambres».

Melting of molybdenum has decreased by 34.6% in the first quarter, which amounted to 1.7 thousand tons, gold production fell by 34.1%, amounting to 56.8 thousand ounces. Nevertheless, the company adhere to the planned annual figures for the smelting of 700 thousand tons of copper, 7.5 thousand tons of molybdenum, and 270 thousand ounces of gold. The disposal of the company is 4 Chilean mine — «Los Pelambres», «Esperanza», «El Tesoro» and «Michilla», shares held by the company since 2004 put into circulation on the London Stock Exchange.

Meanwhile, China continues to increase its capacity by increasing the number of imported copper. In April this year the volume of imported products increased by 52% compared to the same period of 2013, which amounted to 450 thousand tons. Earlier British analysts predicted an increase in demand in China in the red metal for the 10year period by 3.5%. If the forecast will be correct, it will be possible to talk about reducing the consumption of the metal, since the previous decade was marked by an increase in demand of 11%. In March of this year compared with the previous month, the untreated metal imports increased by 40 thousand tons, representing in total 420 000 tonnes — and the figures from the beginning of the year are the highest. The volume of metal produced in the first two months of this year compared to the same period last year increased by 6.7%.

The media in China have placed information on the investment contract between Kazakhstan and China. The joint project involves the construction of mining and processing plant, located in 210 kilometers from Astana. The production annual capacity of the future Mining is expected to be 5 million. Tons of clay and 25 million. Tons of copper sulphide ore. «China Nonferrous Metals» will assume responsibility for the supply of the main production equipment, its installation and subsequent commissioning and start-up. 15 management will be responsible for commissioning the line processing of sulphide ore. Launching of the project is planned to make next summer.

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