Chile-based copper miner Antofagasta PLC (LSE:ANTO) maintained its forecast for the current year as it continued to move away from the problems of the past 12 months.
Group production for 2024 is expected to be between 670,000-710,000 tonnes (t) of copper and 195,000-210,000oz of gold as a by-product.
That compares to 660,000t of copper in 2023 and 191,000t in the final quarter and reflects a planned step-up in production at the Los Pelambres mine now that water issues have been resolved and processing capacity increased.
Cash costs are forecast to be in line with 2023 at US$2.25 per pound of copper and a net US$1.60 after the gold credit.
Iván Arriagada, chief executive, said he was pleased the group was “moving forward again”.