While the entire mining sector has been grappling with a weak commodity price environment, Antofagasta’s concerns were intensified by operational disruptions in H1 15. Sales (from continuing operations) were down 31% yoy to $1.8bn. This was attributable to both lower realised prices (copper down 18%) and 13% lower copper output. Production was impacted by Q1 community protests at Los Pelambres and heavy rains in March unsettling the Centinela operations. Although the group did manage to
02 Sep 2015
Operational disruptions adds to the (existing) market pain
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Operational disruptions adds to the (existing) market pain
Antofagasta plc (ANTO:LON) | 2,258 327.8 0.6% | Mkt Cap: 22,261m
- Published:
02 Sep 2015 -
Author:
Varun Sikka -
Pages:
3
While the entire mining sector has been grappling with a weak commodity price environment, Antofagasta’s concerns were intensified by operational disruptions in H1 15. Sales (from continuing operations) were down 31% yoy to $1.8bn. This was attributable to both lower realised prices (copper down 18%) and 13% lower copper output. Production was impacted by Q1 community protests at Los Pelambres and heavy rains in March unsettling the Centinela operations. Although the group did manage to