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ANTO Antofagasta Plc

2,244.00
-38.00 (-1.67%)
Last Updated: 14:48:59
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Antofagasta Plc LSE:ANTO London Ordinary Share GB0000456144 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -38.00 -1.67% 2,244.00 2,243.00 2,244.00 2,281.00 2,238.00 2,264.00 304,323 14:48:59
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Copper Ores 6.32B 835.1M 0.8471 26.55 22.17B

Antofagasta Full-Year Copper Production Below Expectations

25/01/2017 8:02am

Dow Jones News


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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.

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