Gatos Silver posts solid 2024, prepares for takeover by First Majestic
The deal will merge Gatos’ main Cerro Los Gatos mine with First Majestic’s San Dimas mine in Durango, and its Santa Elena operation in Sonora.
Chilean copper producer Antofagasta said on Tuesday 2019 profit climbed 9.5% on higher sales and lower costs, but flagged it would review its spending plans due to the tough global economy.
The London-listed miner said earnings before interest, tax, depreciation and amortisation (EBITDA) rose to $2.4 billion in the year ended Dec. 31, from $2.2 billion a year ago.
“In view of the current global situation, the expenditure programme is being reviewed to identify possible savings or deferrals,” Antofagasta said in a statement.
(By Zandi Shabalala; Editing by Louise Heavens)
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