Antofagasta to review expenditure as 2019 profit rises

Los Pelambres, located 240 km north-east of Santiago, is Antofagasta’s flagship operation. (Image courtesy of Minera Los Pelambres)

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)

Comments

Your email address will not be published. Required fields are marked *

No comments found.

More News

Barrick eyes 30% production growth by 2030

The company is also considering changing its name from Barrick Gold to Barrick Mining to reflect its changing production profile, chairman John Thornton said.

April 04, 2025 | 03:26 pm

{{ commodity.name }}