Production at the world's largest copper mine, Escondida in northern Chile, fell 23% year on year in the first three months of the year to 265,597 mt, the BHP Billiton-controlled operation said Wednesday.
The mine said a 10% year-on-year rise in production of copper cathode to 84,778 mt was unable to offset a 33% drop in concentrates production to 180,819 mt.
Mine revenues fell 33% to $1.374 billion, largely due to the fall in copper prices, while profits fell 47% to $265 million.
The mine is 57.5% owned by BHP Billiton, Rio Tinto owns a 30% stake while the balance of shares is held by two Japanese consortia.
