Reuters reported that Canada's Mercator Minerals quarterly copper production from its Mineral Park mine in Arizona came in below its expectations, sending the company's shares down 12% to 2 year low.

Shares of the mining company were trading down 10% at CAD 1.21 on the Toronto Stock Exchange. Earlier in the session, they had touched a low of CAD 1.19.

Vancouver based Mercator said that July to September copper production totaled 10.5 million pounds below its forecast of 12 million pounds. Mercator, which completed a second phase of expansion at the mine, said it aims to sustain production levels of at least 50,000 tonnes a day for the Q4.

The company said that the mine produced 2 million pounds of molybdenum and 178,000 ounces of silver in the Q3. Mill throughput rose 32% in the quarter to 36,151 tonnes per day.

(Sourced from Reuters)