Antofagasta downgrades FY production guidance due to Chile protests

Chilean copper miner Antofagasta has downgraded its full-year production guidance following protests in Chile.

The company said on Monday that all of its mines are now back in operation.

"Disruptions of the mines' supplies mainly affected Los Pelambres whose access road was blocked," it said. "This, combined with some damage to ancillary infrastructure outside Los Pelambres' perimeter, is estimated to have an impact on the company's full year production of approximately 10,000 tonnes of copper, including the 5,000 tonnes previously disclosed."

At the Antucoya mine, labour negotiations have been successfully concluded with the union ending the strike that started on 16 October. The impact on copper production is estimated at about 4,000 tonnes.

As a result, Antofagasta cut its full-year output guidance to between 750,000 and 770,000 tonnes from a previous range of 750,000 to 790,000 tonnes.