Getting copper out of the ground especially at some of the...

Getting copper out of the ground especially at some of the biggest and older copper mines is getting harder and harder all the time.

See report below on lower production by copper miner Antofagasta
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Antofagasta’s Q1 copper output down 11% yr/yr

Reuters | April 17, 2024 | 5:19 am Top Companies Latin America Copper

Centinela copper mine. (Image courtesy of Antofagasta Minerals.)
Chilean miner Antofagasta said on Wednesday its first-quarter copper output fell 11% from a year earlier due to reduced ore grades at its Centinela operations and maintenance at Los Pelambres.

It produced 129,400 metric tons of copper, down 32.4% from the fourth quarter of last year, the London-listed group said.


Antofagasta, which operates four mines in top copper producer Chile, reiterated that it expects output in 2024 of between 670,000 and 710,000 tons, a range that fell short of analysts’ estimates when it was first announced in October. The miner produced 660,600 tons last year.
The group’s capital expenditure is set to increase to $2.7 billion in 2024 from $2 billion last year as it starts work on its Centinela concentrator.