Tue Apr 12, 2011 2:56pm GMT
JOHANNESBURG (Reuters) - Palabora Mining said on Tuesday its iron ore output in the first quarter to the end of March fell eight percent hit by equipment slowdowns.
"Daily ore hoisted from the underground mine averaged 28,903 tonnes for the quarter ended 31 March 2011, 8 percent lower than the previous quarter and the corresponding period in 2010," the company, part of Rio Tinto's global stable, said in a statement.
It said ore hoisting rates or output were expected to improve in May when one of its winder drums is replaced and commissioned. Hoists or winders are generally used to raise and lower conveyances within mine shafts.
It said Q1 copper production fell 10 percent to 58.4 kt (thousand tonnes).
"Refined copper production was 14.8kt and in line with anode supply but 15 percent lower than the previous quarter due to utilisation of inventory in the previous quarter," it said.
Shares in the company were down 2.38 percent at 143.50 rand by 1438GMT, lagging behind the JSE All-share index, which was down 1.68 percent.(sourced:Thomson Reuters)
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