CANBERRA (Scrap Monster): Production of copper at the world's largest mining company BHP Billiton has increased by 1.8 percent in the fourth fiscal quarter, by producing about 470,000 tonnes. Last year, during the same period, the copper output was about 461,700 tonnes. The increased output is due to the improved operations at its Chilean Escondida mine.
BHP who owns 57.5 pct of Escondida mine said that it was on the right track to produce nearly 1.27 million tonnes of copper in the financial year 2015. The production remains on track even though there was a power outage in the northern Chile earlier this month. The company also added that a six day maintenance shut down at its Laguna Seca concentrator would affect the production in the coming quarter.
Other Chilean copper asset of BHP, the Pampa Norte unit which includes the Spence and Cerro Colorado mines also reported a production increase of 3.2 percent to 66,800 in FQ4. Production of full fiscal year was about 233,100 tonnes, a slight increase from 232,600 tonne of last fiscal year.