Antofagasta Nine-Month Production Rose 16%; Expects Negative Impact from Chile Unrest
October 23 2019 - 3:08AM
Dow Jones News
By Anthony O. Goriainoff
Antofagasta PLC (ANTO.LN) said Wednesday that copper production
in the first nine months of the year rose 16% and that recent civil
unrest in Chile could potentially disrupt operations.
The London-listed, Chile-based copper miner said that the unrest
in Chile could alter the delivery of supplies and the transport of
employees and contractors, and that it expects the impact on
production to be approximately 5,000 tons.
The company said that year-to-date copper production rose to
584,200 metric tons, from 505,500 metric tons in the year-prior
period. In the third quarter, copper production fell 0.8% to
197,000 tons, compared with the second quarter of 2019.
Year-to-date gold production rose 89% to 226,600 ounces, however
third-quarter gold production fell 11% to 77,600 ounces,
Antofagasta said.
Molybdenum production for the first nine months of the year fell
by 1,000 tons to 9,300 tons, the company said. For the third
quarter, production was 100 tons lower at 2,900 tons.
The company backed its guidance for the year. Antofagasta said
its copper production guidance for 2019 was in the 750,000 tons to
790,000 tons range.
Antofagasta said it expects copper production in 2020 to
decrease to 725,000-755,000 tons as grades decline at the Centinela
Concentrates project, before rising again in 2021.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
October 23, 2019 02:53 ET (06:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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