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Antofagasta Q2 Copper Production Down Sequentially; Maintains FY21 Production View

(RTTNews) - Miner Antofagasta Plc (ANFGY.PK, ANTO.L) reported Wednesday that its second-quarter Group copper production was 178,400 tonnes, down 2.5 percent sequentially, mainly because of lower recoveries at Centinela Cathodes and expected lower grades at ZaldA­var.

Gold production increased 3.9 percent from the preceding first quarter to 61,400 ounces mainly due to higher grades at Centinela, and Molybdenum production was 2,800 tonnes, some 200 tonnes lower than previous quarter.

For the first half, Group copper production was 361,500 tonnes, down 2.8 percent from 371,700 tonnes a year ago, mainly because of lower grades. The production was in line with expectations.

Gold production increased 8.5 percent to 120,500 ounces, and Molybdenum production was 5,800 tonnes, 5.5 percent higher than in the same period last year

Looking ahead for fiscal 2021, the company continues to expect production at 730-760,000 tonnes of copper at a net cash cost of $1.25/lb and capital expenditure of $1.6 billion.
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