Antofagasta PLC maintains annual production guidance despite a 11% Q1 copper decline due to Centinela mine's lower grades and increased ore hardness.
Antofagasta PLC, a Chilean copper miner, sustained its annual production guidance despite a 11% decrease in Q1 copper output to 129,400 tonnes. Lower grades at the Centinela mine and increased ore hardness led to the decline. However, molybdenum production increased 8% due to higher output at Los Pelambres. Despite these challenges, the company expects its production profile to rise quarter-on-quarter throughout the rest of the year, with full-year guidance remaining unchanged.
April 17, 2024
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