Antofagasta maintains copper guidance despite fall in Q2 output

31st Jul 2013 07:08

South America-focused mining group Antofagasta saw copper output fall from the first to the second quarter due to lower production from its Esperanza project in Chile where the plant underwent scheduled maintenance.Group copper production fell from 183,800 tonnes to 180,300 tonnes in the second quarter, with the decline limited by higher output at Los Pelambres and El Tesoro.Despite the fall, copper output totalled 364,100 tonnes in the first half, up 8.4% year-on-year, which puts the company on track to hit its full-year target of 700,000 tonnes (broadly in line with the 709,600 tonnes mined in 2012).Gold production totalled 76,700 ounces in the second quarter, down 11% from the first three months of the year, mainly due to lower grades and throughput at Esperanza. First-half gold output however rose 20% to 162,900 ounces.BC