July 26, 2017 / 6:21 AM / a year ago

Antofagasta first half copper output up 7.1 percent

LONDON, July 26 (Reuters) - Chilean copper producer Antofagasta said on Wednesday that copper production in the first half was 7.1 percent higher than in the first half of 2016.

The forecast for costs for the full year was unchanged, with cash costs before credits for by-products expected to be $1.55 per pound and net cash costs of $1.30 per pound.

Antofagasta CEO Ivan Arriagada said the company had continued its focus on improving efficiencies and savings.

“This has resulted in a net cash cost of $1.20/lb for the second quarter of 2017, down more than 5 percent on the previous quarter,” he said in a statement.

“Production and costs remain in-line with our expectations and our guidance for the year is unchanged.” (Reporting by Barbara Lewis and Sanjeeban Sarkar, editing by Louise Heavens)

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