Monday, February 1, 2010

Xstrata Coal Production Up 11 Per Cent In 2009

Mining group Xstrata Plc has reported an 11 percent rise in its annual production of coal, its most profitable product. Total coal production was 95.2 million tonnes, up from 85.5 million tonnes in 2008 following the takeover of Prodeco in Colombia. The average price of Australian thermal coal, which accounts for the bulk of production, fell to $80.30 per tonne from $95.60 in 2008, a statement from the company said.


However, mined copper production fell by 5 percent in 2009 with output at 906,898 tonnes. Zinc production rose 20 percent to 1.03 million tonnes.

According to Morgan Stanley coal is expected to account for 40 percent of core earnings this year with copper making up 36 percent and zinc 10 percent,

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