Antofagasta maintains output guidance as Q2 production falls

Copper miner Antofagasta reported lower second quarter production after coronavirus restrictions cut workforce numbers, with the company maintaining guidance for output at the lower end of guidance.

Copper production in the second quarter of 2020 fell 8.4% to 177,700 tonnes compared with the previous three months due to expected lower ore grades at its Centinela mine, the company said on Wednesday.

The company said it was was running with a third of workers off site.

Gold production was 29.3% lower to 46,000 ounces compared with the first quarter, mainly due to lower grades at Centinela, and for the first six months decreased by 25.5% to 111,100 ounces.

Group copper production guidance remained unchanged at the lower end of the original 725,000 - 755,000 tonnes guidance range, on the basis that no Covid-19 related shutdowns were required during the rest of the year.