Antofagasta copper output down 2.8% in H1, 2021 guidance unchanged

Chilean miner Antofagasta said on Wednesday copper production in the first half of 2021 fell 2.8% to 361 500 t from the same year-ago period, due to lower recoveries and grades at some operations.

In the second quarter, copper output stood at 178 400 t, down from 183 000 t in the previous quarter, it said.

The London-listed miner left its full-year guidance unchanged at 730 000 t to 760 000 t of copper at a net cash cost of $1.25 per pound and capital expenditure of $1.6 billion, but warned that this could be affected by the lack of rainfall, which is making 2021 the driest year in 12.