Antofagasta Copper, Gold Production Hit Top of Guidance in 2018
January 23 2019 - 2:52AM
Dow Jones News
By Oliver Griffin
Antofagasta PLC (ANTO.LN) on Wednesday said it expects 2019 will
be a record year for the company, after having met the top ends of
its guidance ranges for copper and gold production in 2018.
The Chile-based mining company said it produced 725,300 metric
tons of copper in 2018, up from 704,300 tons in 2017. Gold
production for the year declined 1.1% to 210,100 ounces, the
company said.
On a quarterly basis, gold production soared 87% to 90,000
ounces in the fourth quarter from 48,100 ounces in the third, due
to higher throughput, grades and recoveries at the Centinela
mine.
Fourth-quarter copper production rose 17% to 220,000 tons from
188,300 tons in the third quarter, Antofagasta said.
Antofagasta's production of strategic metal molybdenum, which is
often used to make metal alloys, rose 30% on year to 13,600 tons.
On a quarterly basis, molybdenum production fell 25% to 3,300 tons,
the company said.
The miner said it expects 2019 will be a record year and
forecast copper output in a range of 750,000-790,000 tons, with
gold expected at between 240,000-260,000 ounces. Molybdenum
production is expected in a range of 11,500-12,500 tons, the
company said.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
January 23, 2019 02:37 ET (07:37 GMT)
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