Metals News
Xstrata 1H Coal Output -0.5%; Copper Cathode Output +2.8%
industry news
Jul 27,2010

Jul 27, 2010, LONDON (Dow Jones)--Anglo-Swiss miner Xstrata PLC (XTA.LN) Tuesday reported a 2.8% rise in first half copper cathode production and coal output that was more or less unchanged.

Copper and coal are the main earnings drivers for Xstrata, accounting for 42% and 39%, respectively, of 2009 earnings before interest, taxes, depreciation and amortization, or Ebitda.

The FTSE-100 miner said copper cathode output was 371,173 tons in the first half, from 360,950 tons in the same period of the previous year.

Total consolidated coal production was 38.6 million metric tons for the six months ending June 30, from 38.8 million tons during the same period a year earlier.

Xstrata's shares closed Monday at 1,036.5 pence a share, down 7.5% since the beginning of the year.

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