SUPPLY NEWS - Antofagasta's copper output climbs 5.8 pct in Q2'16

print Print this document.  Post this story to Facebook.
Ewa Mantheyewa.manthey@fastmarkets.comCorrespondent+44 (0) 20 7337 2146

London 27/07/2016 - Antofagasta's copper output in the second quarter of the year rose 5.8 percent, compared with the first quarter of the year, it said on Wednesday.

The Chilean miner produced 166,200 tonnes of copper in the second quarter, due to higher production at the Los Pelambres, Zaldivar and Antucoya mines.

Group copper production for the first six months of the year reached 323,300 tonnes, 6.6 percent higher than in the same period last year, the miner also said.

Copper production for the full year is expected to be at the lower end of the 710,000-740,000 tonnes guidance level issued in January, with output weighted to the second half, it said.

Installation of the tailings thickeners at Centinela and the ramp-up of Antucoya are proceeding within their planned ranges, but inherent risks will persist until both projects are completed, it added.

The company's gold production was 52,800 ounces in the second quarter, a 6.9 percent decrease on the first quarter, largely due to lower production at Centinela.

Molybdenum production at Los Pelambres was 1,600 tonnes in the second quarter, compared to 1,700 tonnes in the previous quarter, principally due to lower grades, partially offset by higher recoveries and throughput.

(Editing by Martin Hayes)



Fastmarkets.com
mailto:press@fastmarkets.com
8 Bouverie Street, London, EC4Y 8AX, UK
+44 (0)845 241 9949