Leading Copper Producer Amerigo Announced Q3 Production Update

SEATTLE (Scrap Monster): Vancouver, Canada-headquartered Chile-focussed copper producer Amerigo Resources announced production update for Q3 this year. The company expects lower production during the quarter, mainly due to “historic levels” of rainfall in Chile.

The company expects copper production for the quarter ending September 30, 2023 from the 100% owned operation Minera Valle Central (MVC) located near Rancagua, Chile to be approximately 2.7 million pounds lower than the production estimate mentioned in the revised plan. The year-to-date rainfall till September 10, 2023 at MVC has been 695 mm. This is upon comparison with annual rainfall of 287 mm and 247 mm in 2022 and 2021 respectively.

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The company press release noted that it maintains its revised target of 16.5 million pounds of production during the final quarter of the year, based on the assumption that rainy season in the region typically comes to an end by mid-September every year. Amerigo is currently evaluating all possible options to boost production in Q4, so as to mitigate the negative production impacts from flooding.

The company’s capital return strategy remains in place, said Aurora Davidson, President and CEO, Amerigo Resources.