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Trading statements

Antofagasta copper output up

26 July 2017 07:19

Antofagasta's group copper production for the first six months of the year rose to 346,300 tonnes - 7.1% up on a year ago.

This was primarily due to higher production at Centinela and Antucoya.

Gold production during the second quarter increased by 10.5% to 58,900 ounces and for the first six months by 2.5% due to improving grades at Centinela.

Molybdenum production at Los Pelambres increased in Q2 to 2,400 tonnes and for the year to date was 36.4% higher than in the corresponding period last year at 4,500 tonnes principally due to higher molybdenum grades.

Chief executive Iván Arriagada said: "Our copper production performance during the year so far has been stronger than in the same period last year, especially at Centinela and Antucoya, which is now operating at full capacity.

"We have continued our strategy of focusing on improving efficiencies and achieving savings. This has resulted in a net cash cost of $1.20/lb for the second quarter of 2017, down more than 5% on the previous quarter.

"Production and costs remain in-line with our expectations and our guidance for the year is unchanged."

Story provided by StockMarketWire.com

Related Company: ANTO

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