As SMM understands, Chilean miner Antofagasta has released its interim report, showing a 5% increase in profits as the rise in copper prices offset the impact of declining sales. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first six months of this year rose from $1.33 billion last year to $1.39 billion. Antofagasta stated that the construction of the second concentrator at its Centinela mine was completed ahead of schedule, and the expansion of the Los Pelambres desalination plant has also begun.
In July, the company said that due to low ore grades, the annual copper production of its four copper mines in Chile would be at the lower end of the guidance range of 670,000-710,000 tonnes.
