Antofagasta H1 earnings per share up 92%, year output target gets cut

Wednesday, August 25, 2010

LONDON -- Chilean miner Antofagasta posted a near doubling in first-half earnings per share on Tuesday on higher production and a rebound in prices, but trimmed its annual production target.

“Group copper production from the three operating mines is expected to be approximately 530,000 tonnes, slightly below the forecast of 543,000 tonnes announced in March, reflecting updated forecasts at Los Pelambres and El Tesoro,” a statement said.

The London-listed group said earnings per share for the first six months rose 92 percent to 46 cents from 24 cents last year on a 50 percent rise in turnover to US$1.76 billion.

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