ANTO Antofagasta Plc

By Anthony O. Goriainoff

Antofagasta PLC (ANTO.LN) said Wednesday that copper production in the first nine months of the year rose 16% and that recent civil unrest in Chile could potentially disrupt operations.

The London-listed, Chile-based copper miner said that the unrest in Chile could alter the delivery of supplies and the transport of employees and contractors, and that it expects the impact on production to be approximately 5,000 tons.

The company said that year-to-date copper production rose to 584,200 metric tons, from 505,500 metric tons in the year-prior period. In the third quarter, copper production fell 0.8% to 197,000 tons, compared with the second quarter of 2019.

Year-to-date gold production rose 89% to 226,600 ounces, however third-quarter gold production fell 11% to 77,600 ounces, Antofagasta said.

Molybdenum production for the first nine months of the year fell by 1,000 tons to 9,300 tons, the company said. For the third quarter, production was 100 tons lower at 2,900 tons.

The company backed its guidance for the year. Antofagasta said its copper production guidance for 2019 was in the 750,000 tons to 790,000 tons range.

Antofagasta said it expects copper production in 2020 to decrease to 725,000-755,000 tons as grades decline at the Centinela Concentrates project, before rising again in 2021.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

October 23, 2019 02:53 ET (06:53 GMT)

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