Intraday Mcx Tips

During the two months of 2012, the Russian sea ports increased cargo turnover by 5.1% compared to the same period last year, to the level of 81.9 million tonnes, informed the Association of Sea Commercial Ports of the Russian Federation.

The volume of dry cargo shipment totaled 34.3 million tonnes (up 13.7%), including grains - 2.7 million tonnes (up 6.2 times).

The preliminary results for Antofagasta released today showed a record rise in Copper production. The total Copper production was up by 23% to 640500 tons in 2011. Group Copper production was 521100 tons in 2010. Meanwhile, Gold production rose five fold to 196800 ounces in 2010, up by 461% from 35100 ounces in 2010.

Even after a substantial rise the production forecasts were not achieved by the company. Speaking on the occasion Jean-Paul Luksic Chairman of Antofagasta plc, said “2011 was a solid year for the Group, in terms of both production and profitability, mainly reflecting the impact of the start-up of Esperanza.

Mcxtips Copper production of 640,500 tonnes increased by 22.9% and gold production of 196,800 tonnes more than fivefold compared with 2010, and EBITDA was 32.1% higher than the previous year at US$3,660.5 million. The ramp-up of Esperanza was the key milestone for the Group in 2011, contributing 90,100 tonnes in its first year of production.

Production was lower than originally anticipated as a result of which Group production was below the original forecast of 715,000 tonnes of copper and 324,000 ounces of gold.”

A sharp rise in revenue was noted in 2011. The total group revenue of Antofagasta was $ 6076 million, up 32.7% from $ 4577 million in the previous year. EBITDA earnings were $ 3660.5 million in 2011, up 32% from $ 2771.9 million in 2010.