Chilean miner Antofagasta reported a nearly 22% jump in copper output in the second quarter, helped by an expansion at its flagship Los Pelambres mine in the central part of the country.
The FTSE 100 company reduced its annual forecast for net cash cost, a measure of cost of production per pound of copper produced, to $1.25/lb as it expects to benefit from a weaker Chilean peso and higher by-product prices.