Inmet says Q2 production at Las Cruces below estimates

Inmet Mining Corp said quarterly copper cathode production at its Las Cruchow does a stamp mill workes project in Spain missed its own estimates, hurt by equipment failures, and lowered its 2010 production outlook from the mine.

The Canadian base metals miner said it produced 6,600 tonnes of copper cathode during the second quarter, compared with a target of 12,400 tonnes. The company also cut its outlook for copper cathode production at Las Cruces to a range between 20,000 tonnes and 30,000 tonnes from 36,400 tonnes, due to continued operational issues at the project. Shares of the company closed at C$50.24 Thursday on the Toronto Stock Exchange.