Antofagasta Expects Copper Production to Fall in 2022
October 20 2021 - 1:46AM
Dow Jones News
By Jaime Llinares Taboada
Antofagasta PLC on Wednesday forecast lower copper production
for 2022, reflecting a lack of rainfall and lower grades at its
Centinela Concentrates operation.
The Chilean copper miner guided for production of
660,000-690,000 metric tons for next year. This would be down from
the 2021 guidance of 710,000-740,000 tons, which was reiterated on
Wednesday.
"Since we last reported, there has been no material rainfall at
our operations and as we head into the summer months, we do not
expect any rain until the next rainy season, which begins in June
next year," Chief Executive Ivan Arriagada said.
Antofagasta said it expects 2021 net cash costs to be below the
original guidance of $1.25 a pound.
The company also reported copper production of 181,100 tons for
the third quarter, up 1.5% from the second quarter. Year to date,
copper output is up 0.2% compared with the first nine months of
2020.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
October 20, 2021 02:31 ET (06:31 GMT)
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