Antofagasta cuts annual copper output forecast on Antucoya project delay
LONDON, July 29 (Reuters) - Chilean miner Antofagasta cut is annual copper output forecast on Wednesday due to a delay in the start up of its Antucoya project, as it posted a double-digit percentage decline in its half-year copper production.
The London-listed miner, which has been hurt by a steep fall in prices, declining ore grades, unfavourable weather and environmental protests, produced 303,400 tonnes of copper in the first half, down 12.9 percent from the same period a year earlier and below analysts' forecasts.
It cut its full-year copper production guidance to 665,000 tonnes from 695,000 tonnes due to the delayed commissioning and subsequent ramp-up of its Antucoya project. (Reporting by Silvia Antonioli; Editing by Mark Potter)
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