Antofagasta 1Q Production Fell as Expected, 2022 Capex Seen at High End of Range
21 Abril 2022 - 1:57AM
Noticias Dow Jones
By Jaime Llinares Taboada
Antofagasta PLC said Thursday that its copper production fell in
the first quarter as expected, and capital expenditure in 2022 will
be at the high end of the guidance range.
The Chilean copper miner produced 138,800 metric tons of copper
in the first quarter of the year at a net cash cost of $1.75 a
pound. This compares with 178,900 tons at $1.35 a pound in the
fourth quarter of 2021.
"Production reflected the impact of the ongoing drought at Los
Pelambres and the expected lower grades at Centinela Concentrates,"
Chief Executive Ivan Arriagada said.
The FTSE 100 company reaffirmed 2022 production guidance of
660,000-690,000 tons at a net cash cost of $1.55 per pound.
In addition, Antofagasta said that it has recently completed a
review to its Los Pelambres Expansion project, which resulted in
the estimated capital cost increasing to $2.2 billion from the
previous $1.7 billion. As a result, capital expenditure for 2022 is
now seen at the top end of the $1.7 billion-$1.9 billion guidance
range.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
April 21, 2022 02:42 ET (06:42 GMT)
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