LONDON (dpa-AFX) - Antofagasta PLC (ANFGY.PK, ANTO.L) reported that its third-quarter copper production was 180,600 tonnes, 8.7 percent higher than in the previous quarter, with Antucoya reaching full production in August.
Group copper production for the first nine months of the year of 503,900 tonnes rose 9.4 percent from the same period last year.
Gold production in the third quarter was 70,300 ounces, representing a 33.1 percent increase on the preceding second quarter, largely due to higher gold grades at Centinela.
Molybdenum production at Los Pelambres was 1,900 tonnes in the quarter, compared to 1,600 tonnes in the second quarter, with higher grades at Los Pelambres.
Looking ahead, the company said it expects copper production to continue in the fourth quarter of 2016, and that guidance for the year is expected to be close to the lower end of the 710,000 tonnes to 740,000 tonnes range provided at the beginning of the year.
The company expects copper production in 2017 to be in the range of 685,000 tonnes to 720,000 tonnes.
Capital expenditure for 2016 and 2017 is expected to be below $900 million in both years.
Copyright RTT News/dpa-AFX