Antofagasta H1 EPS up 92%, cuts year output target

Chilean miner Antofagasta has posted a near doubling in first-half earnings per share on higher production and a rebound in prices, but trimmed its annual production target

“Group copper production from the three operating mines is expected to be approximately 530,000 tonnes, slightly below the forecast of 543,000 tonnes announced in March, reflecting updated forecasts at Los Pelambres and El Tesoro,” a statement said.

The London-listed group said earnings per share for the first six months rose 92 percent to 46 cents from 24 cents last year on a 50 percent rise in turnover to $1.76bn.

Earnings were largely in line with an average forecast of 47 cents from five analysts surveyed by Thomson Reuters.

Antofagasta declared an interim dividend of four cents, up from an interim payout of 3.4 cents last year.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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