Antofagasta Q2 copper production rises 5.3%

Chile-focused miner Antofagasta said second quarter copper production rose 5.3% driven by better ore grades at its Centinela min as it maintained its annual production outlook.

The company maintained full year production guidance at 750,000 -790,000 tonnes, with net cash cost guidance now expected to be $1.25/lb, 5c/lb less than guided at the beginning of the year.

Copper production for the quarter was 198,600 tonnes compared with 163,200 tonnes, a year earlier.

Group copper production for the first six months of the year was 387,300 tonnes, 22.2% higher than in the same period last year because of higher throughput and grades at most of the operations, the company said on Wednesday.

Gold production during the quarter increased by 39.7% to 86,900 ounces compared to the previous quarter, and for the first six months increased by 107.1% to 149,100 ounces due to higher grades at Centinela, it added.