March 5, 2012 / 1:07 PM / 6 years ago

UPDATE 1-Amerigo posts 4th-qtr loss

March 5 (Reuters) - Canadian copper and molybdenum producer Amerigo Resources posted a fourth-quarter loss, hurt by lower production and higher power costs.

The Chile-focused company reported a fourth-quarter loss of $3.6 million, compared with a profit of $9.6 million a year ago.

Revenue for the quarter fell 20 percent to $40.3 million.

Amerigo’s copper production for the year fell 6 percent to 43.7 million pounds.

The company’s MVC project in Chile produces copper and molybdenum concentrates from the tailings of the world’s largest underground copper mine, El Teniente, operated by Codelco .

MVC lost more than 2,500 tonnes or about 10 percent of its annual copper production due to the strike by El Teniente subcontractors in June and July, Amerigo said in a statement.

Shares of Amerigo closed at 90 Canadian cents on Friday on the Toronto Stock Exchange.

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