Antofagasta Production Rises, Costs In Line With Expectations

By Olga Cotaga Features Dow Jones Newswires

Antofagasta PLC (ANTO.LN) on Wednesday reported growth in both copper and gold production for the second quarter of 2017 and backed its previous views.

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Chief Executive Ivan Arriagada said: "Our copper production performance during the year so far has been stronger than in the same period last year, especially at Centinela and Antucoya."

"Production and costs remain in line with our expectations and our guidance for the year is unchanged," Mr. Arriagada said.

Copper production was 1.5% higher at 174,400 tons and gold production was up 11% at 58,900 ounces.

Cash costs fell compared with the previous quarter thanks to increased production at Centinela, the company said.

Copper production for 2017 is expected to be between 685,000 and 720,000 tons, Antofagasta said. Net cash costs are expected to be of $1.30 a pound.

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-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

(END) Dow Jones Newswires

July 26, 2017 02:54 ET (06:54 GMT)