Antofagasta Plc (UK) (GB:ANTO) has released an update.
Antofagasta Plc has commenced full construction of the Centinela Second Concentrator Project, aiming to boost annual copper-equivalent production by 170kt starting in 2027, while maintaining full-year production guidance for 2024. The company reported a 11% decrease in copper production and a 21% decrease in gold production in Q1 2024 compared to the same period last year, attributing this to lower ore grades and maintenance activities. Despite these challenges, they expect quarterly production to increase throughout the year and remain committed to providing responsibly produced copper supporting global electrification.
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