Antofagasta Full-Year Copper Production Below Expectations
January 25 2017 - 3:02AM
Dow Jones News
By Olga Cotaga
LONDON--Antofagasta PLC (ANTO.LN) said Wednesday that copper
production in 2016 was 709,400 tons, 13% higher than a year earlier
but slightly below expectations, despite a strong performance from
its Centinela mine and its new Antucoya and Zaldivar
operations.
Previously, Antofagasta was guiding on a copper production close
to the lower end of the 710,000 tons-740,000 tons range.
Gold production in 2016 was 27% higher than in 2015 at 270,900
ounces, again reflecting better grades at Centinela, the mining
company said.
Costs fell by 27 cents a pound to $1.54 a pound during the
year.
"Although we believe the industry has passed the low point in
this commodity cycle, uncertainty persists," said Chief Executive
Ivan Arriagada.
For 2017, Antofagasta guided on copper production in the range
of 685,000 to 720,000 tons, and on gold production in the range of
185,000 to 205,000 ounces. Group costs should be the same as in
2016 at $1.55 a pound, it forecast.
-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter
@OlgaCotaga
(END) Dow Jones Newswires
January 25, 2017 02:47 ET (07:47 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Antofagasta (LSE:ANTO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Antofagasta (LSE:ANTO)
Historical Stock Chart
From Apr 2023 to Apr 2024
