Business
Q4 2019 PRODUCTION REPORT
Q4 2019 PRODUCTION REPORT.
About this update from Antofagasta Plc
[{"type":"text","content":"\n \nRNS Number : 5112A Antofagasta PLC 22 January 2020 \n\nNEWS RELEASE, 22 JANUARY 2020\nQ4 2019 PRODUCTION REPORT\nRECORD COPPER PRODUCTION\n \nAntofagasta plc CEO, Iván Arriagada said: \"2019 was a good year operationally for Antofagasta. We had record copper production of 770,000 tonnes, at the top end of our revised guidance, and improved cash costs of $1.22/lb. I am also pleased to report that there were no fatalities during the year, a target we remain focused on as our top priority.\n\"We expect a solid performance from the Group in 2020 as we continue to focus on improving the operating efficiency of our mines, enter into labour negotiations at Centinela and Zaldivar, and continue to optimise water usage across the Group and particularly at Los Pelambres. We will also complete the Centinela Second Concentrator feasibility study and continue to invest in our growth projects including the Los Pelambres expansion, the Esperanza Sur pit and the Zaldivar Chloride Leach project. Production is expected to be 725-755,000 tonnes of copper at a net cash cost of $1.30/lb.\" \n\"Following the civil unrest in Chile last year and the disruption of supplies at Los Pelambres, all of our mining operations have been operating in line with their respective plans, although the Transport division has had some interruptions due to occasional road blockages in the city of Antofagasta. \n\"Our purpose remains robust - developing mining for a better future - and this means making decisions with the understanding that our activities make an important contribution to developing the world of the future while also providing societal benefits to our host countries and local communities. In line with this, and following a practice we introduced some years ago, we recently increased the minimum wage for our employees and contractors to a level that is now two thirds higher than the national minimum wage\". \n \nHIGHLIGHTS\nPRODUCTION \n· Record copper production for the full year of 770,000 tonnes was at the top end of revised guidance, 6.2% higher than in 2018 on higher production at Los Pelambres, Centinela and Zaldívar\n· Group copper production in Q4 2019 was 185,500 tonnes, only 5.8% lower than in the previous quarter due to planned lower grades and maintenance at Centinela Concentra...