October 21, 2011 / 2:18 PM / 7 years ago

UPDATE 1-Amerigo Resources Q3 copper output falls

* Says produced 11 million lbs of copper in Q3, down 18 pct

* Q3 Molybdenum production falls 20 percent to 186,297 pounds

* Says copper, molybdenum output below budget, will hurt Q3 results (Follows alerts)

Oct 21 (Reuters) - Canadian copper and molybdenum producer Amerigo Resources reported an 18 percent drop in quarterly copper production at its Minera Valle Central (MVC) operations in Chile, hurt by a strike at its El Teniente mine.

However, the company, which had warned on lower-than-budgeted third-quarter copper and molybdenum production, said MVC had returned to full production and fourth-quarter output would be at levels similar to the last two quarters of 2010.

Amerigo, whose MVC operations have been plagued by strikes by subcontractor’s workers since July, said quarterly copper production was 11 million pounds, down from 13.4 million pounds a year ago.

Molybdenum production fell 20 percent to 186,297 pounds in the quarter.

The company added that power costs have continued to remain higher than the second half of 2010.

Shares of the Vancouver, British Columbia-based company were trading up about 2 percent at 62 Canadian cents on Friday morning on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Roshni Menon)

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