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Antofagasta Says Third-Quarter Copper Slump Cost $297 Million
Nov. 24, 2011 11:54AM PST
Base Metals Investing Bloomberg reported that lower copper prices cost Antofagasta (LSE:ANTO) almost $300 million in third quarter.
Bloomberg reported that lower copper prices cost Antofagasta (LSE:ANTO) almost $300 million in third quarter.
As quoted in the market news:
Antofagasta adjusted the price of 142,100 metric tons of its production to 318.3 cents a pound compared with the provisional contract price of 409.8 cents, it said in a statement today. The company earned $96.3 million from the adjustment in the same period last year. Output in the first nine months rose by 15 percent to 453,500 tons.
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