Escondida H1 copper output down 14pc

SANTIAGO: Chile's Escondida Copper output from the world's largest mine fell 14 percent in the first half from a year earlier to 452,408 tonnes, the mine's operator said on Tuesday, as it grapples with lower ore grades.

Escondida, which is majority, owned by global miner BHP Billiton, produced 301,001 tonnes of copper concentrate and 151,407 tonnes of copper cathodes during the period, the operator said in a statement. It did not refer to a two-week strike which started in July and halted output.

It said however earnings rose due to high international copper prices, boosting profits 23 percent in the first half of the year from the same period in 2010 to $1.98 billion.

Copyright Reuters, 2011