June 7, 2011 / 12:42 PM / 7 years ago

UPDATE 1-Mercator's Q2 molybdenum output tops forecast

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June 7 (Reuters) - Canada’s Mercator Minerals Ltd said molybdenum production at its Arizona mine had already exceeded its forecast for the second quarter, helped by better mill performance as well as increased mining and recovery rates.

Copper production at the Mineral Park mine in Arizona during the months of April and May was 7.5 million pounds, or about 74 percent of its forecast for the quarter ending June 30.

Molybdenum production in April and May was 1.1 million pounds, compared with the company’s production forecast of 1.03 million pounds for the quarter.

In addition, Mineral Park produced 56,953 ounces of silver in May, the company said in a statement.

Mercator also said it expects to complete an optimized feasibility study at its El Pilar copper project in Mexico in July.

Shares of the company closed at C$2.83 on Monday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Savio D’Souza)

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