Antofagasta Plc
Antofagasta Plc
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Chilean copper giant Antofagasta and Marubeni, its 30% partner in the Llano greenfield copper mine, have awarded the full service mining contract at the Sierra Gorda district mine to diversified contractor Thiess.
The $A155M contract awarded by JV company Minera Centinela covers mining operations, maintenance and asset management services. Thiess expects to commence work this month.
The blockades are back in the Coquimbo region of central Chile, targeting Antofagasta’s 60%-owned Los Pelambres copper operation – but this time the state-owned company says it’s a small group of people who are not connected to any specific incident or situation relating to the giant mine.
According to the company, the blockaders are simply demanding compensation to clear access.
It says the blockade, which has lasted several days, is affecting the transport of critical supplies and personnel to the mine site.
Chilean copper giant Antofagasta has been ordered to halt marine works on construction of a desalination plant at its Las Pelambres project after severe sea swells nearly a month ago overturned a construction platform.
Antofagasta says the original incident caused no significant damage or environmental impact, but continuing swells have impeded recovery work.
Chilean environmental authority SMA says work cannot resume until any risk to the environment from sunk equipment holding fuel or lubricants is removed.
Expectations of a “very different” second half-year support Chilean-based copper giant Antofagasta’s expectations of meeting revised FY2022 guidance of 640,000-660,000t copper despite a 25.7% production drop to 268,600t in the June half.
H1 impacts included drought and the shutdown for a leaking concentrate pipeline at Los Pelambres and lower grades at its Centinela Concentrates. Lower production and higher input costs increased cash costs 37% to $US2.37/lb.
Easing community blockades have enabled copper miner Antofagasta to begin repair work on a leaking concentrate pipeline at its 60%-owned Los Pelambres project in Chile’s Coquimbo region, but it warns continued access restrictions will prevent it restarting concentrate transport until end-June.
Antofagasta is continuing talks with the authorities and communities seeking to remove the remaining restrictions.
Chilean copper giant Antofagasta is stockpiling all production at its 60%-owned Los Pelambres project in the Coquimbo region following detection of a leak in the underground pipeline that transports copper concentrate to the port at Los Vilos.
Pipeline repairs have been delayed due to a blockade by community members. Mining and processing plant operations have continued, with ore being stockpiled pending pipeline repairs.
Group copper production forecast is unchanged at 640,000-690,000t, subject to revision following repairs.
A community protest is delaying attempts by major Antofagasta to access and repair a pipeline leak that has halted the export of copper concentrate from its Los Pelambres mine in northern Chile.
Chilean copper giant Antofagasta is predicting improved production throughout 2022 will keep it on target despite continuing drought that reduced its March qtr (Q1) copper output to 138,800t, from 178,900t in the previous period.
Q1 gold production plunged further to 38,400oz (Q4FY2021: 64,900oz), with the drought impacts compounded by a significant fall in grades at its Centinela Concentrates.
Chilean-based copper leader Antofagasta will accept $US900M as the cost of withdrawing from its 50% stake in the Tethyan Copper JV with Barrick Gold over Pakistan’s Reko Diq copper-gold project.
Antofagasta’s exit is part of the in-principle agreement to end the standoff that has prevented development for more than a decade of a mine originally slated to produce 200,000tpa copper and 250,000ozpa gold.
Chilean copper giant Antofagasta will accept $US900M as compensation for its withdrawal from a multilateral agreement to end the 11-year-old lockdown of one of the world’s largest undeveloped copper-gold deposits, the Reko Diq project in Pakistan.