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

Codelco’s long-term partner, Amerigo Resources reported solid second-quarter operational performance at Minera Valle Central mine (MVC), its wholly-owned site near Rancagua, Chile.


The Vancouver-based producer cited strong copper prices during the quarter and recorded a 15.6pc increase in output to 6,799mt of copper in Q2 2021 compared to 5,883mt produced in Q2 2020.


MVC’s copper shipments rose 10.4pc to 6,863mt in Q2 2021 versus 6,214mt of copper shipped in the same quarter one year ago.


Copper output reached 96pc of Q2 guidance and stands at 98pc of year-to-date guidance. The company maintains its yearly production guidance of 27,669mt of copper, first provided in January.


MVC realized an average quarterly copper price of $4.44/lb in Q2, up 8.8pc against $4.08/lb Q1 2021.


Considerable progress was made during H1 2021 by the groups in Canada and Chile to improve the company’s financial position while also streamlining its debt capacities. 


Amerigo will release financial results for Q2 2021 on Aug 11.

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