LONDON--Anglo-Swiss miner Xstrata PLC (XTA.LN), which is in the
process of merging with Swiss Commodities firm Glencore
International PLC (GLEN.LN), said Tuesday the Antapaccay copper
mine in southern Peru started production of commercial grade copper
in concentrates at the beginning of November and has delivered its
first shipment to Matarani Port for delivery to customers
worldwide.
MAIN FACTS:
-Plant commissioning activities continue as Antapaccay
progressively ramps up to the nameplate processing capacity of
70,000 tons per day in the first half of 2013.
-Mine will produce an average of 160,000 tons of copper in
concentrate per annum, plus gold and silver by-products, in the
initial years of production.
-Antapaccay deposit has recently been expanded by 30% to an
estimated total mineral resource of over 1 billion tons at a grade
of 0.49% copper using a cut-off grade of 0.15% copper, including
gold and silver by-products.
-Mineral resource contains 5 million tons of copper metal.
-Xstrata shares closed Monday at 1016 pence valuing the company
at 30.52 billion pounds.
-Write to Ian Walker at ian.walker@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires