Lower copper prices lead to earning plunge of more than 20% for Antofagasta
Antofagasta says a six-month delay to its flagship Los Pelambres mine cost it $50mm and that work on all projects had resumed in stages
20 August 2020 - 18:17
Chile’s Antofagasta maintained its dividend and restarted growth projects, even after lower copper prices drove down its first-half earnings by 22%, it said on Thursday, pushing its shares lower.
Its London-listed shares fell 5.4% by 12.57pm GMT, making it the worst performer in an index of its peers. Shares touched their highest since June 2018 in the previous session...
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