Antofagasta FY copper output slips, costs soar |
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Wed, 31 Jan 2007 11:43
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LONDON (AFX) - Antofagasta PLC said copper output has fallen slightly to 465,000 tonnes in 2006 from 467,300 in 2005, but still ahead of its original forecast of 441,500 tonnes.Production of molybdenum, a by-product of copper mining, rose 13 pct to 9,800 tonnes from 8,700 tonnes.In the fourth quarter, the group produced 131,200 tonnes of copper and 2,800 tonnes of molybdenum.Average cash costs for the year rose to 40.2 cents a pound from 13.9 cents previously, reaching 38 cents in the fourth quarter, up from 31.4 cents in the third quarter.Antofagasta said it is targeting to produce 11,000 tonnes of molybdenum in 2007 at its main Los Pelambres mine in Chile.monicca.egoy@thomson.commbe/ksCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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