Chile Escondida Copper Output Falls 21 pct

SANTIAGO, Oct. 30 -- Chile's Escondida, the world's largest copper mine, said on Thursday its January-September copper output fell 21 percent from a year earlier to 788,126 tonnes.

    Escondida, majority-owned by global diversified miner BHP Billiton (BHP.AX: Quote) (BLT.L: Quote), said in a statement it produced 540,740 tonnes of copper in concentrates during the nine-month period, down from 812,605 tonnes in the same period last year. It produced 247,386 tonnes of copper cathodes compared with 184,396 tonnes in the year earlier period.

    The company attributed the lower concentrates production to the low-quality mineral being processed and a failure at its SAG mill where major repairs were undertaken in July, requiring a 32-day stoppage.

    "The repairs were successful and (the mill) is currently performing normally," Escondida said.

    It said the growth in cathodes production was caused by "an increase in the level of activity and ore accumulation in the process stockpiles."

    Escondida said its total sales fell 46.4 percent in the period to $4.12 billion.

    (Source: Reuters)