By Adriano Marchese

Amerigo Resources has announced that copper production at its Chilean operations has returned to normal levels in the fourth quarter after being impacted by severe rainfall. The company also expects to produce more copper in 2024 compared to 2023.

Production Update

Copper production from the Minera Valle Central mine reached 16.4 million pounds in the fourth quarter, marking a return to normal levels following severe weather events earlier in August. Notably, 47% of the quarterly copper production was derived from historic tailings—a testament to the company’s operational flexibility and increased processing capabilities at the Cauquenes tailings deposit.

In 2023, the mine produced 57.6 million pounds of copper, aligning with the revised annual guidance of 57.8 million pounds set in September. This reflects the rebound in production after Minera Valle Central successfully removed over 2.2 million cubic meters of water from the historical tailings deposit, which had accumulated between August 19 and September 10.

Future Outlook

Looking ahead to 2024, Amerigo expects to further increase its copper production to 62.4 million pounds, alongside 1.2 million pounds of molybdenum. The company projects that 61% of copper production will come from fresh tailings.

Chief Executive Officer Aurora Davidson expressed confidence in these figures, stating, “We closed the year with a strong quarter, resulting in an annual copper production of 57.6 million pounds. In 2024, we anticipate reaching 62.4 million pounds of copper—marking the fourth consecutive year of increased guidance.”

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