Antofagasta: Output at FTSE 100 mining giant to disappoint Mining Output at the Chilean mining conglomerate Antofagasta is likely to come in at the lower end of the firm's guidance in its full year results, the firm has said, despite copper production rising by 20 per cent between April and the end of June.
Antofagasta revels in rising copper demand as countries embrace net zero transition COPPER Higher copper prices and sales has powered Antofagasta to bumper earnings over the first six months of trading this year.
FTSE 100 close: London index claws back losses as pound and oil prices soar markets London’s FTSE 100 clawed back losses today after posting its worst month since last summer in May, led higher by mining giants regaining ground following yesterday’s sharp losses. The capital’s premier index climbed 0.59 per cent to 7,490.28 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
FTSE 100 live: London’s blue chip index ends the week on a positive, but subdued note April 21, 2023 The FTSE 100 ended a quiet week with another subdued session on Friday, but it managed to eke out a small gain and kept above 7,900 points. Shares in the top index in London gained 11.52 points, rising by 0.2 per cent to 7,914.13. It came despite heavy losses for the country’s biggest mining companies. [...]
FTSE 100 close: China economy growth spurt jolts London miners higher April 18, 2023 London’s FTSE 100 bumped upwards again today, boosted by stronger than expected Chinese economic growth boosting sentiment toward the capital’s biggest listed industrial giants. The capital’s premier index climbed 0.38 per cent to 7,909.43 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was broadly [...]
Fluctuating copper prices result in 30 per cent revenue drop for Antofagasta August 11, 2022 Antofagasta’s revenue dropped 30 per cent to $2.5bn (£2.05bn) in the first half of 2022 as market volatility led to lower copper prices and sales while a drought persisted in Chile. The Chilean mining company reported profit before tax at $680m (£557m), a $1.1bn (£0.9bn) decline from a year before with EBITDA 47.5 per cent [...]
Mining giant Antofagasta to exit controversial $900m Pakistan project March 21, 2022 Mining giant Antofagasta is to exit its contentious project in Pakistan in a 900 million dollar (£684 million) deal. The FTSE 100 firm said it has agreed a deal with Canadian partner Barrick Gold Corp and authorities in Pakistan to end its involvement in the Reko Diq copper and gold mine project. It comes after [...]
Antofagasta in line with expectations despite pressures October 20, 2021 British multinational Antofagasta has remained in line with expectations, registering a steady production during the third quarter of 2021, with copper and gold increasing by 1.5 and 8.8 per cent compared to the previous one. Cost performance was also in line with the group’s predictions even though the company – like many others – is [...]
Antofagasta doubles EBITDA but sees shares dragged by falling oil prices August 19, 2021 Antofagasta, a Chile-based mining group, has published strong interim results with EBITDA hitting a record $2.4bn, up 132.7 per cent year on year. Revenue for the first half of 2021 was $3.6bn a 68 per cent jump compared to the same period in 2020 while profit before tax surged to $1.8bn, a £1.4bn increase. Shares [...]
Antofagasta production on track but miner warns on Chile lockdown April 21, 2021 Mining giant Antofagasta today said its production and costs were in line with expectations in the first quarter but warned of the impact of a fresh lockdown in its home country. The Chile-based company said copper production was on track at 183,000 tonnes, 5.7 per cent lower than last year and five per cent lower [...]