Fluctuating copper prices result in 30 per cent revenue drop for Antofagasta results - just in Antofagasta’s revenue dropped 30 per cent to $2.5bn (£2.05bn) in the first half of 2022 as market volatility led to lower copper prices and sales while a drought persisted in Chile. The Chilean mining company reported profit before tax at $680m (£557m), a $1.1bn (£0.9bn) decline from a year before with EBITDA 47.5 per cent [...]
Mining giant Antofagasta to exit controversial $900m Pakistan project Checking out Mining giant Antofagasta is to exit its contentious project in Pakistan in a 900 million dollar (£684 million) deal. The FTSE 100 firm said it has agreed a deal with Canadian partner Barrick Gold Corp and authorities in Pakistan to end its involvement in the Reko Diq copper and gold mine project. It comes after [...]
Antofagasta in line with expectations despite pressures Antofagasta in line with expectations despite pressures British multinational Antofagasta has remained in line with expectations, registering a steady production during the third quarter of 2021, with copper and gold increasing by 1.5 and 8.8 per cent compared to the previous one. Cost performance was also in line with the group’s predictions even though the company – like many others – is [...]
Antofagasta doubles EBITDA but sees shares dragged by falling oil prices August 19, 2021 Antofagasta, a Chile-based mining group, has published strong interim results with EBITDA hitting a record $2.4bn, up 132.7 per cent year on year. Revenue for the first half of 2021 was $3.6bn a 68 per cent jump compared to the same period in 2020 while profit before tax surged to $1.8bn, a £1.4bn increase. Shares [...]
Antofagasta production on track but miner warns on Chile lockdown April 21, 2021 Mining giant Antofagasta today said its production and costs were in line with expectations in the first quarter but warned of the impact of a fresh lockdown in its home country. The Chile-based company said copper production was on track at 183,000 tonnes, 5.7 per cent lower than last year and five per cent lower [...]
Antofagasta revenue ticks up on surging metal prices March 16, 2021 Mining giant Antofagasta saw its revenue tick up in 2020 as climbing copper and gold prices offset a small production decline. The Chile-based miner said that revenue hit $5.1bn in the last financial year, up 3.3 per cent on the prior period. Earnings grew 12.3 per cent to $2.7bn, it added, due to a cheaper [...]
Antofagasta to review expenditure for 2020 due to coronavirus March 17, 2020 Chilean mining giant Antofagasta is to review its expenditure for 2020, despite strong results for 2019. The London-listed company said this was due to the current international uncertainty due to coronavirus. Its shares rose as much as 13 per cent this morning following the announcement. “In view of the current global situation, the expenditure programme [...]
Antofagasta hails record production as it shrugs off strikes January 22, 2020 Chilean mining giant Antofagasta hailed record production in 2019 despite unrest in Chile causing major disruptions to its projects in the country. Copper production came in at the top end of the firm’s guidance at 770,000 tonnes, 6.2 per cent higher than last year. Production did take a 5.8 per cent hit in the final [...]
Chile demonstrations threaten Antofagasta copper production October 23, 2019 Ongoing strike action in Chile could damage Antofagasta’s copper production, according to the mining giant’s third-quarter update, which was released this morning. Days of demonstrations, in which 15 people have died, have rocked Santiago, the capital of the world’s largest copper producer. Read more: Copper production slips at Anglo American amid Chilean drought The company [...]
Antofagasta on track for record copper production August 22, 2019 Despite lower prices, a jump in copper sales boosted Antofagasta’s top and bottom lines and set it on track for a record year of production. Revenue jumped 19.1 per cent at the miner to more than $2.5bn (£2bn), while earnings before interest, tax, depreciation and amortisation rose 44 per cent to $1.3bn. Read more: BHP [...]