Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Codelco’s long-standing partner, Amerigo Resources reported a 3pc drop in copper production at its Minera Valle Central (MVC) operations in Chile. The company has kept its guidance of producing 56mn lbs (25,401 mt) copper unchanged for the year. 


According to its Q2 2020 report, Amerigo expects improved processing rates from its Cauquenes smelter. Rainfall has improved in this region and will aid mining efforts. However, the same cannot be said about the El Teniente mine, where output is expected to drop. 


MVC produced 12.97mn lbs (5,883mt) of copper in the second quarter. Though this shows a 3pc dip in volume from 13.34mn lbs in Q2 2019, production rose 7pc from the previous quarter’s production of 12.08mn lbs. 


Amerigo’s copper sales stood at 13.70mn lbs, up 15pc from the first quarter this year. The company noted that Q2 2020 sales could not be compared to last year’s because operations have just begun. In Q2 2019, the company delivered a mere 2mn lbs of refined copper. 


The company also announced the appointment of Carmen Amezquita as its new chief financial officer on Tuesday. She has previously served with various mining firms in Latin America, such as Huckleberry Mines and Silver Fortuna Mines. 

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