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
01-19-22 0236ET