Antofagasta revenue ticks up on surging metal prices March 16, 2021 Mining giant Antofagasta saw its revenue tick up in 2020 as climbing copper and gold prices offset a small production decline. The Chile-based miner said that revenue hit $5.1bn in the last financial year, up 3.3 per cent on the prior period. Earnings grew 12.3 per cent to $2.7bn, it added, due to a cheaper [...]
Antofagasta to review expenditure for 2020 due to coronavirus March 17, 2020 Chilean mining giant Antofagasta is to review its expenditure for 2020, despite strong results for 2019. The London-listed company said this was due to the current international uncertainty due to coronavirus. Its shares rose as much as 13 per cent this morning following the announcement. “In view of the current global situation, the expenditure programme [...]
Antofagasta hails record production as it shrugs off strikes January 22, 2020 Chilean mining giant Antofagasta hailed record production in 2019 despite unrest in Chile causing major disruptions to its projects in the country. Copper production came in at the top end of the firm’s guidance at 770,000 tonnes, 6.2 per cent higher than last year. Production did take a 5.8 per cent hit in the final [...]
Chile demonstrations threaten Antofagasta copper production October 23, 2019 Ongoing strike action in Chile could damage Antofagasta’s copper production, according to the mining giant’s third-quarter update, which was released this morning. Days of demonstrations, in which 15 people have died, have rocked Santiago, the capital of the world’s largest copper producer. Read more: Copper production slips at Anglo American amid Chilean drought The company [...]
Antofagasta on track for record copper production August 22, 2019 Despite lower prices, a jump in copper sales boosted Antofagasta’s top and bottom lines and set it on track for a record year of production. Revenue jumped 19.1 per cent at the miner to more than $2.5bn (£2bn), while earnings before interest, tax, depreciation and amortisation rose 44 per cent to $1.3bn. Read more: BHP [...]
Chinese shock leaves the FTSE 100 nursing losses after renminbi devaluation August 12, 2015 The FTSE 100 fell by 72 points yesterday as luxury goods and mining firms suffered from China’s unexpected devaluation of the renminbi. The Chinese devaluation, news of which broke after the FTSE closed on Monday night, saw Burberry shares open 12p down on the previous day at 1,595p, before falling throughout the day to [...]
Antofagasta pushes production up after challenging first quarter July 30, 2015 Chile-based miner Antofagasta yesterday reported an improvement in production during the second quarter, after difficulties with protesters at its Los Pelambres mine and heavy rains and Centinela hit results in the first three months of the year. Copper production was up to 157,000 tonnes, an increase of 7.2 per cent on the first quarter, although [...]
Antofagasta in water deal with Los Pelambres mine protestors March 12, 2015 Shares in mining firm Antofagasta were up by 1.36 per cent yesterday, after it announced an agreement had been reached with protestors who were blocking access to its operation at the Los Pelambres mine in Chile. Normal operations are set to resume in the next few days. Protests have been ongoing at the site since [...]
Antofagasta copper production hit by protests at Chilean mine March 9, 2015 Mining company Antofagasta yesterday revealed that copper production has been reduced by an estimated 5,000 tonnes as a result of ongoing protests at the Los Pelambres mine in Chile. Protestors are seeking action by Pelambres and the government to help alleviate the current drought conditions in the area. Antofagasta said discussions regarding water availability have [...]
Antofagasta says falling oil price and weak peso have slashed costs February 23, 2015 Lower oil prices and a weaker Chilean peso have enabled mining firm Antofagasta to cut its anticipated cash costs for 2015. The firm also stated “certain input costs becoming more favourable” helped drive reduction of costs from $1.75 (£1.13) per pound to $1.40. According to the Chilean company, the revised costs are in line with [...]