Antofagasta’s First Quarter Profits Decline on Higher Costs, Lower Prices

CNBC reported that a drop in copper prices combined with higher operating costs hit Antofagasta’s Q1 profit.

As quoted in the CNBC report:

Antofagasta said the realised price for its copper in the quarter dropped to 341.1 cents per pound from 429.6 cents per pound in the first quarter of 2012. On the London Metal Exchange, copper averaged 359.8 cents per pound during the first quarter of this year, compared with 376.9 cents a year ago.

To view the whole CNBC report, click here.