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Platts reported precious metals production at the Sudbury, Canada, operations for Vale (SAO:VALE5) fell drastically in the first quarter of 2012.
Platts reported precious metals production at the Sudbury, Canada, operations for Vale (SAO:VALE5) fell drastically in the first quarter of 2012.
As quoted in the market news:
Platinum production sank 33.4% in the first quarter to 38,000 oz from 57,000 oz in the year-ago period, while gold production tumbled 36.9% during the quarter to 19,000 oz from 30,000 oz.
Production of silver and palladium, precious metals with extensive industrial applications, did not fall as sharply.
Palladium production from the Sudbury operations fell 18.6% in Q1 to 59,000 oz from 72,000 oz a year ago, while silver production remained flat at 595,000 oz.