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Antofagasta Q1 copper production up 7.3% YOY

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Antofagasta Q1 copper production up 7.3% YOY

Antofagasta Plc'scopper production in the first quarter increased 7.3% year over year to 157,100tonnes, the company said April 27.

The first full quarter of production from Zaldivar and increases at Antucoya were offset by lower production at becauseof lower grades, and no contribution from Michilla as it was put on care and maintenance at the endof 2015.

Gold production in the quarter decreased slightly to 56,700 ounces,a 1.2% drop year over year.

Molybdenum production at Los Pelambres fell 19.0% to 1,700 tonnes in the quarter,compared to 2,100 tonnes a year ago, mainly due to a fall in grade.

Cash costs before byproduct credits in the quarter dropped 6%to US$1.72 per pound, and net cash costs decreased 4.2% to US$1.37 per pound, ona yearly basis, with a significantly higher realized gold price offsetting the impactof lower production.