Production Report

RNS Number : 7375Z

Glencore Xstrata PLC

11 February 2014

 



Production Report
for the 12 months ended 31 December 2013

Following completion of the GlencoreXstrata merger on 2 May 2013, production information for all periods covered in this report has been presented on a combined basis.

Key Highlights:

-      Total own sourced copper production up 26% to 1.5 million tonnes in 2013, driven by strong growth in African copper, Collahuasi, Antapaccay and Ernest Henry:

o  African copper up 43% to 398,600 tonnes, as the key expansion projects, Katanga and Mutanda, successfully grow production, both reaching 200,000 tonnes p.a. capacity at the end of 2013.

o  Collahuasi increased production 58% to 195,600 tonnes, with H2 2013 up 91% compared to H1 2013, as production ramped up, following the SAG mill restart and a return to higher grades.

o  The Antapaccay and Ernest Henry projects are progressing well.

-      Perseverance and Brunswick mines reached the end of their mine lives in June 2013, resulting in a decline in total own sourced zinc and lead production, only partially offset by the growth projects in Australia and Africa. Excluding Perseverance and Brunswick, zinc production increased by 7% in 2013.

-      Koniambo started production in Q4 2013 and is in the early stages of ramp-up.

-      Quarterly sequential (Q4 13 v Q3 13) increase in all Base Metal (Cu, Zn, Pb and Ni) own source production.

-      Ferrochrome production up 32% to 1.2 million tonnes based on higher utilisation of the smelters and furnaces and the successful commissioning of the Tswelopele pelletizing plant.

-      Own sourced gold production up 14% to 1,023,000 oz, driven by strong growth at Kazzinc and Antapaccay.

-      Coal production up 4% to 138.1 million tonnes during 2013, driven by a number of key expansion projects at Prodeco and various Australian thermal coal assets.

-      Successful commencement of production at Alen (Equatorial Guinea) and Badila (Chad) oil fields in 2013.

-      Successful sale of the pasta and malt businesses during 2013, acquired as part of Viterra.

-      The Group's resources and reserves report was also issued today, noting:

o  Significant growth in Mutanda copper ore reserves and mineral resources, up respectively, 23% and 25% to 2.0 million and 7.4 million tonnes of contained copper.

o  The recognition of ore reserves at Las Bambas, containing 6.9 million tonnes of copper.

o  An increase of 21% in iron ore mineral resources to 4.6 billion tonnes of contained iron (100% basis), mainly as a result of increased resources at El Aouj.

o  An increase of 129% to 87 mmboe in 2P net oil reserves, primarily through the recognition of acquired Chad reserves and an increase of 223% to 387 mmboe in 2C net contingent oil resources, mainly resulting from drilling in Cameroon.

To view the full report please click here http://www.rns-pdf.londonstockexchange.com/rns/7375Z_1-2014-2-10.pdf

For further information please contact:

Investors	Media
Paul Smith t: [phone] m: [phone] e: [e-mail]	Charles Watenphul t: [phone] m: [phone] e: [e-mail]
Investors	Investors	Finsbury (Media)
Martin Fewings t: [phone] m: [phone] e: [e-mail]	Elisa Morniroli t: [phone] m: [phone] e: [e-mail]	Guy Lamming Dorothy Burwell t: [phone]

www.glencorexstrata.com

 

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