Silver production for the fourth quarter ended 31 December 2012 totaled 296,243 ounces as against 282,036 ounces in the third quarter of the fiscal.

The silver head grade produced during the period saw a 2% increase, quarter-on-quarter, said the company.

Net copper produced for the quarter increased by 48% when compared to the earlier quarter while the copper head grade witnessed a surge of 29%.

Scorpio Mining interim president and CEO Peter Hawley remarked that the positive growth at the Nuestra mine reflects the continual progress with cost reduction measures and increased efficiencies.

"2012 saw record plant throughput from previous years, while operations in Q4 focused on extracting and processing metals with a higher dollar value," added Hawley.

The firm has also announced the commencement of construction operations at El Cajón development project with strong quarterly results backing it.

"Related development and mine planning is well advanced for a timely startup," concluded Hawley.