May 4, 2012 / 1:47 PM / 6 years ago

UPDATE 1-Mercator cuts 2012 output forecast on lower ore grades

May 4 (Reuters) - Canada’s Mercator Minerals Ltd lowered its full-year production forecast for its flagship Mineral Park mine in Arizona, as it mined lower ore grades and mill throughput was impacted by the processing of the harder ore.

The mine is now expected to produce about 89 million copper equivalent pounds, down from the 90 million to 100 million pounds expected earlier, the company said.

First-quarter production was 20.1 million copper equivalent pounds at the mine.

The company’s shares were down 5 percent at C$1.14 on the Toronto Stock Exchange on Friday.

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