RE: Xtrata news...more newsHunter mines contribute to big Xstrata profit
Mining giant Xstrata says improved efficiencies at two of its Hunter Valley coal mines have contributed to a $1.7 billion profit for 2005, up 60 per cent on the previous year.
Company chief executive Mick Davis attributes the end of year profit to higher commodity prices across its zinc, copper and coal operations.
The company's Hunter Valley coal mines were singled out for their solid performances.
Mr Davis says lower cost production at its Beltana mine, near Singleton, and its Ulan operation, west of Merriwa, led to efficiency gains of more than $43 million.
The Beltana mine set new Australian productivity records last November, with 50,000 tonnes of thermal coal produced in a single day and a million tonnes produced during the month.
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C.Gert