COPPER miner Antofagasta aims to increase production by more than nine per cent this year, anticipating slower output growth after an almost 23 per cent jump in 2011 when the miner topped its targeted range, thanks to the ramp up of its Esperanza mine.
The FTSE 100-listed miner said copper production in the fourth quarter rose more than 13 per cent to 187,000 tonnes, making it the strongest three months of the year, and helping 2011 output rise to 640,500 tonnes, just above its target.
It is aiming for 2012 copper production of 700,000 tonnes, below some analysts’ expectations.
Copper production has dropped at many of the industry’s largest producers over 2011, when mines were hit by freak weather, strikes and lower grades as projects mature.
