Antofagasta Q3: Copper Up 15 Percent in September Quarter

Antofagasta (LSE:ANTO) has released its September quarter production results, detailing a 15 percent increase in copper production, with the company producing 188,300 tonnes over the quarter.

It also said that it expected the December quarter to be even better as production continues to grow.

CEO of Antofagasta, Iván Arriagada said:

“While we benefited from higher production in the quarter, our disciplined approach to costs has allowed us to combat inflationary pressures during the year which, combined with the strong molybdenum market, has contributed to a 15 percent fall in our net cash costs to US$1.27 per pound and for the full year guidance remains unchanged at US$1.35 per pound.

The physical copper market continues to look tight and the outlook for next year remains positive despite ongoing fears about disruptions to global trade. We have narrowed our copper production guidance for the full year to 705-725,000 tonnes and looking ahead we expect production in 2019 to increase to 750-790,000 tonnes, driven by higher average grades at Centinela Concentrates and Zaldívar.”

Click here to read the full Antofagasta (LSE:ANTO) press release.