could xstrata be lurking

Anglo-Swiss miner Xstrata PLC (XTA.LN) Wednesday said that its copper and nickel production decreased in the first half of the year but pointed to accelerating output after first-quarter setbacks. Copper is the biggest earnings driver for the FTSE100 miner. It accounted for almost 46% of earnings before interest, taxes, depreciation and amortization last year. Xstrata produced 444,269metric tons of mined copper in the six months to June 30, down
1.1% compared with 449,136 tons during the same period a year earlier. Mined nickel production fell 6.1% to 26,610 tons from 28,349, Xstrata said. Nickel accounted for 24% of Ebitda last year. "Copper, coal, nickel and zinc production accelerated in the second quarter compared to the first quarter, with further significant volume growth expected in the second half," Xstrata said in a statement.
Total consolidated coal production climbed 3.9% to 39.6 million tons from 38.1 million tons, Xstrata said. The FTSE100 miner is the world's biggest producer of coal used to generate power. Xstrata said it had record first-half production of ferrochrome, platinum, semi-soft and coking coal, refined nickel, zinc in concentrate and lead in concentrate. At Tuesday's close, its share price was 3,435 pence, down 22% since a May 19 peak of 4,420 pence amid a sector-wide downturn.