Vancouver-based copper producer, Amerigo Resources reported a strong first quarter operations at its fully owned plant, Minera Valle Central mine (MVC), near Rancagua, Chile.
MVC’s copper production increased by 28.3pc to 7,031mt in Q1 2021 compared to 5,479mt in Q1 2020. Copper shipments were up 27.8pc to 6,853mt in Q1 2021 against 5,361mt of copper shipped in the same quarter one year ago. Copper output reached 99pc of Q1 guidance provided by the company in January with cash cost 3pc above guidance at $400,000. The deviation was due to maintenance work at MVC operations that exceeded earlier projections.
The MVC plant maintained its production guidance despite a considerable increase in COVID-19 infections in Chile. MVC’s realized an average quarterly copper price 0f $4.08/lb in Q1.