UPDATE 1-Chile's Antofagasta to boost copper output, lower costs

miércoles 27 de enero de 2016 03:54 GYT
 

(Adds details on costs, gold output)

Jan 27 (Reuters) - Chilean mining firm Antofagasta Plc said on Wednesday it expects a boost in copper production this year as it ramps up output at new mines after posting annual output for 2015 which was lower than its guidance.

The London-listed miner produced 630,300 tonnes of copper in 2015, down 10.6 percent and less than its 635,000-tonne target.

The company said it expects production of 710,000-740,000 tonnes in 2016.

"We will benefit from growth at Antucoya and Centinela Concentrates and we will have a full year of production from our share of Zaldívar," Chief Executive Diego Hernández said in a statement.

Antofagasta last year commissioned the Antucoya copper mine, which is expected to reach its full capacity of 85,000 tonnes per annum in mid-2016.

The company also bought a 50 percent stake in Barrick Gold's Zaldivar copper mine in Chile last year.

Like its peers, Antofagasta faces low commodity prices as a result of slowing growth in China, the world's top consumer of industrial metals.

The miner last year was also hurt by declining ore grades, unfavourable weather and environmental protests.   Continuación...