Amerigo says its Q3 copper production in Chile exceeds guidance while cash cost trends lower
(Kitco News) - Amerigo Resources (TSX: ARG) todayreported that Q3 2021 production of 16 million pounds of copper from its MineraValle Central (MVC) operation located near Rancagua, Chile, was at 109% ofguidance due to higher fresh tailings tonnage and grade.
The company said that duringthe quarter, MVC also successfully completed a series of planned plantmodifications which now allow it to process a higher throughput of freshtailings without sacrificing recovery.
Amerigo added that Q3 2021cash cost of $1.62/lb was 8% lower than the company's quarterly cash costguidance of $1.76/lb due to higher than projected production and lower thananticipated power, steel and lime costs.
MVC's average copper price inQ3 2021 was $4.23/lb, compared to $4.44/lb in Q2 2021, the company noted in itsstatement.
"Amerigo completed Q3 2021with very strong production results. The annual plant maintenance shutdown wascompleted successfully and on schedule, and full production operations resumedon October 2, 2021. A total of 1,390 maintenance tasks and projects werecompleted safely and on time by our team in Chile to ensure MVC's plantcontinues to operate as expected", said President and CEO Aurora Davidson.
Amerigo Resources is aninnovative copper producer with a long-term relationship with Codelco, theworld's largest copper producer. Amerigo produces copper concentrate andmolybdenum concentrate as a by-product at the MVC operation in Chile byprocessing fresh and historic tailings from Codelco's El Teniente mine, theworld's largest underground copper mine.
By Vladimir BasovFor Kitco News
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