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Antofagasta copper output hit
■ First-quarter copper production at Chilean miner Antofagasta fell 13 per cent on the previous three months amidst rising development costs, the London-listed firm said yesterday. Esperanza, a flagship growth project that hit troubles in its production build-up last year, saw damage to a key conveyor belt in the quarter which held up throughout February and March. It warned the mine’s full-year production would be at the lower end of forecast ranges. The problem also weighed on the miner’s total output for the quarter, down 12.9 per cent on the last three months of 2011.