African Copper nears commercial production

In a production update report, the company says as production increased with the opening of its second copper mine, payable copper sold was at 1,266 tonnes in the first three months of the year, compared to 460 tonnes produced in the fourth quarter of last year.

Average copper prices in the first quarter stood at $9,500 per tonne, translating into sales of about $12 million for African Copper, compared to $8,500 per tonne in the last quarter of 2010.