Quadra FNX Lowers Outlook

22 June 2010 (Last Updated June 22nd, 2010 18:30)

Quadra FNX has reduced its 2010 copper production outlook by about 12% due to low output from its Franke mine in Chile and its Carlota mine in Arizona, US. Copper production is now expected to be 265 million pounds for the year instead of the previous estimate of 300 million pounds.

Quadra FNX has reduced its 2010 copper production outlook by about 12% due to low output from its Franke mine in Chile and its Carlota mine in Arizona, US.

Copper production is now expected to be 265 million pounds for the year instead of the previous estimate of 300 million pounds.

Production slowed at Franke because of a lack of equipment and recovery issues, while the Carlota mine suffered storms and greater-than-normal rainfall.

Quadra said it expects operations at the Franke mine to return to optimum levels by the first half of 2011, while ore grades and volumes at Carlota are expected to improve in the second half of this year.

Quadra FNX president Paul Blythe said the company will not be able to make up the shortfall this year.

Gold and precious metal production guidance remains unchanged at 155,000oz, Quadra FNX said.