OTML suffers 3% fall in copper output, ups gold in Q2

Business, Normal

The National

WESTERN province mi-ner  Ok Tedi Mining Ltd (OTML) suffered 7% drop in copper production but picked up slightly on gold in the second quarter of this year.
It produced 38,229 tonnes of copper in the quarter ending June 30 compared to 41,133 tonnes produced in the same period last year, reflecting a 7% decrease.
Gold was 132,905 tonnes compared to last years June quarter production of 128,736 tonnes, a 3% increase.
“Copper production was negatively impacted due to lower ore grade while gold production was positively impacted due to higher ore grade,” OTML said in a statement released yesterday.
Export shipments of copper and gold concentrates were 11% lower (136,758 tonnes) for the second quarter compared to the same period last year (154,214 tonnes).
The lower shipments were due to feeder vessel availability, the miner reported.