Antofagasta annual copper production rises 2%

Antofagasta

1,783.00p

14:25 05/11/24

-0.39%

-7.00p

Copper miner Antofagasta on Wednesday said annual production rose 2% to 660,600 sonnes, on higher output at its Los Pelambres operation in Chile, due to improved water availability from its desalination plant.

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Mining

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14:24 05/11/24

1.25%

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Fourth-quarter group production was 191,500 tonnes, 10% higher than the previous three months, primarily related to production increases at both Los Pelambres and the Centinela mine.

Production in 2024 is expected to increase to 670-710,000 tonnes of copper, in line with previous guidance. Antofagasta also expected capital expenditure of $2.7bn for 2024.

Reporting by Frank Prenesti for Sharecast.com