Antofagasta: FY Production Rises 2%

(RTTNews) - Antofagasta (ANFGY.PK, ANTO.L) reported that copper production for the full year was 660,600 tonnes, 2% higher than the previous year, with an increasing contribution from Los Pelambres. Gold production was 209,100 ounces, 18% higher than 2022 due to higher gold grades at Centinela. Molybdenum production was 11,000 tonnes, representing a 13% increase year-on-year.

Antofagasta plc CEO, Ivan Arriagada said: "We have delivered a year of robust operational performance in 2023, with production increasing by 2% and net cash costs in line year-on-year, with our strong cost discipline and increased output of by-products offsetting industry-wide cost inflation. Production in 2024 is expected to increase to 670-710,000 tonnes of copper, as previously announced, with guidance for net cash costs set at $1.60/lb."