Production up at Antofagasta

Suzie Neuwirth
CHILEAN miner Antofagasta yesterday posted a 19.7 per cent increase in first-half gold production and an 8.4 per cent increase in first-half copper output, as it maintained its production guidance for the year.

However copper and gold output fell in the second quarter compared to the first quarter, the FTSE 100 firm said. “On our commodity price assumptions, we see the company as fundamentally overvalued, but it does present one of the lower risk equity investments in the mining sector,” said Investec in a note.