Antofagasta Expects Higher Costs in 2022; 2021 Output in Line With Guidance
19 January 2022 - 6:51PM
Dow Jones News
By Jaime Llinares Taboada
Antofagasta PLC on Wednesday warned that its operational costs
will jump this year, and reported that production for 2021 was in
line with its guidance.
The Chile-based copper-mining company forecast net cash costs of
$1.55 a pound for 2022. This would be up from $1.20 a pound last
year, reflecting lower production and increased input costs,
especially sulphuric acid.
In addition, Antofagasta reaffirmed production guidance of
660,000-690,000 metric tons for 2022, and anticipated capital
expenditure of between $1.7 billion and $1.9 billion.
The FTSE 100 company also reported copper production fell 1.7%
in 2021, to 721,500 tons. This was in line with its previous
guidance of 710,000-740,000 tons.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
January 19, 2022 02:36 ET (07:36 GMT)
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