Antofagasta ups copper and gold production in Chile in 9M 2021
(Kitco News) - Chile-focused copper miningcompany Antofagasta (ANTO:LSE) reported today that the group's copperproduction for the first nine months of the year (9M 2021) was 542,600 tonnes,0.2% higher than in the same period last year mainly on expected higher gradesat Centinela Concentrates.
The company's gold productionin 9M 2021 rose by 25.4% to 187,300 ounces as a result of higher grades atCentinela. In 9M 2021, its molybdenum production was 8,400 tonnes, 500 tonneslower than in the same period last year.
Importantly, the company saidthat its copper production guidance for the full year 2021 of 710-740,000tonnes is unchanged from the update provided in August, while net cash costsare expected to be below the originally guided $1.25/lb.
CEO Iv??n Arriagada said,"Year-to-date production and net cash costs were very similar to last year at542,600 tonnes at $1.15/lb and we remain on track to deliver on our previouslystated production guidance of 710-740,000 tonnes for the full year and, despiteinput cost pressures, our net cash costs are now expected to be lower than ouroriginal guidance of $1.25/lb."
"The construction of thedesalination plant at Los Pelambres is on track for completion in H2 2022 andwe now anticipate group production in 2022 to be between 660,000 and 690,000tonnes reflecting the previously advised production tonnes at risk at LosPelambres due to the weather, and lower grades at Centinela Concentrates," headded.
Antofagasta's four operationsin Chile are Los Pelambres, Centinela, Antucoya and Zald?-var. The world-classLos Pelambres and Centinela mining districts have sustainable long-life coppermining operations, with large mineral resources, and produce significantvolumes of gold, silver and molybdenum as by-products. All of the company'smines are open pit operations.
By Vladimir BasovFor Kitco News
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