Antofagasta Says Copper Production Drops in 2006, but Beats Companys Forecasts

Antofagasta Says Copper Production Drops in 2006, but Beats Companys Forecasts

Antofagasta PLC, a mining company with operations in Chile and Bolivia, said Wednesday that 2006 copper production fell but beat the company’s forecasts.

Total copper production fell to 465,500 metric tons (513,100 U.S. tons) from 467,300 metric tons (515,100 U.S. tons), the company said in a statement. The company had forecast output 441,500 metric tons (486,700 U.S. tons).

In November, Antofagasta said third-quarter revenue surged 70 percent to US$2.98 billion (euro2.27 billion) as rising demand from developing economies such as China pushed up commodity prices.

Antofagasta shares gained 0.2 percent to 461.5 pence (US$9.06; euro6.99) on the London Stock Exchange.

Share this post