Antofagasta Closes Mines Following Earthquake in Chile

Base Metals Investing

The Telegraph reported that production at two major copper mines owned by Antofagasta (LSE:ANTO) and Codelco was halted following an 8.3 magnitude earthquake that rocked Chile.

The Telegraph reported that production at two major copper mines owned by Antofagasta (LSE:ANTO) and Codelco was halted following an 8.3 magnitude earthquake that rocked Chile.
As quoted in the publication:

The closure of the mines, which generate an annual capacity of more than 600,000 tonnes, drove copper prices on the London Metal Exchange to two-month highs in early Asian trading as worries about supply disruptions offset lingering concerns about demand from China amid copper’s longest rout in years.
Workers at Antofagasta’s Los Pelambres operation were safe and installations did not suffer any damage, the company said in an statement. Anglo American and BHP Billiton said their mines were unaffected, as did Pan Pacific Copper.

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