[miningmx.com] — XSTRATA posted record thermal coal production in the third quarter and a more than 7% rise in overall coal output, thanks to the start of operations at its Mangoola mine and an ongoing recovery from a flood-hit start to 2011.
Copper output, however, was in line with the second quarter but down 4% on the same period a year ago, after production was dented by lower grades, repairs and July blizzard conditions at its Collahuasi mine in Chile.
Copper is the most profitable product for Xstrata, with coal ranking second.
Declining ores and interrupted supply, a problem across the copper industry, also hit copper production at rival Rio Tinto, which downgraded guidance last week.
Zinc in concentrate production slipped 2% after lower output at the Antamina mine in Peru, while nickel production increased 15% year-on-year to 26,738 tonnes, boosted by the ramp up of Falcondo ferronickel operation in the Dominican Republic.
Xstrata said its operating and financial remained “strong” with the company’s financial position still “robust”. It added all major growth projects remain on timetable and within budget.
