{"id":1147846,"date":"2019-11-04T09:08:22","date_gmt":"2019-11-04T15:08:22","guid":{"rendered":"https:\/\/www.mining.com\/?p=1005973"},"modified":"2019-11-04T09:08:22","modified_gmt":"2019-11-04T15:08:22","slug":"antofagasta-cuts-expected-copper-output-further-due-to-chiles-protests","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1147846","title":{"rendered":"Antofagasta cuts expected copper output further due to Chile\u2019s protests"},"content":{"rendered":"<p>Chilean copper miner Antofagasta Plc&nbsp;(LON:ANTO)&nbsp;<a href=\"https:\/\/www.antofagasta.co.uk\/investors\/news\/2019\/production-guidance-update\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">has cut its production forecast for 2019<\/a> as ongoing unrest and riots in the South American country have disrupted supplies to its flagship Los Pelambres mine and resulted in damage to&nbsp;equipment.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The company, which has now resumed normal operations at its four mines in the country, warned last month that protests could cost it about 5,000 tonnes of lost production, less than 3% of its output in the third quarter of the year. <\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>While its four mines in Chile are back in operation, Antofagasta has doubled it expected production loss to about 10,000 tonnes.<\/p>\n<\/blockquote>\n<\/figure>\n<p>The FTSE 100 company, majority-owned by the Luksic family, one of Chile\u2019s wealthiest, said it expects annual copper production of 750,000 to 770,000 tonnes compared with a prior forecast of 750,000 to 790,000 tonnes, mostly due to <a href=\"https:\/\/www.mining.com\/most-chilean-mines-disrupted-as-codelco-workers-join-in-country-wide-strike\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">supplies delays and travel disruptions for workers<\/a>.<\/p>\n<p>The revised guidance also includes a loss of about 4,000<br \/>\ntonnes from now ended worker strikes at its Antucoya mine, in northern Chile, which<br \/>\nin 2018 produced 72,200 tonnes of copper.<\/p>\n<p>Antofagasta has not been the only mining company affected by<br \/>\nongoing unrest in Chile, the world\u2019s No. 1 producer of copper, used widely in<br \/>\nthe power, construction and electric vehicles sectors.<\/p>\n<p>Last week, BHP said its Escondida copper mine, the world&#8217;s largest, was operating at a &#8220;reduced rate&#8221; after <a href=\"https:\/\/www.mining.com\/workers-at-chiles-escondida-copper-mine-worlds-largest-to-down-tools\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">union workers walked off the job for part of the day<\/a> in solidarity with the anti-government protest movement.<\/p>\n<h2><strong>Latin Spring?<\/strong><\/h2>\n<p>Chile is the fourth South American state to be wracked by<br \/>\ncivil unrest seemingly triggered by increased government fees and charges, but<br \/>\nultimately fuelled by a gathering sense of economic inequality.<\/p>\n<p>Ecuador\u2019s government was&nbsp;<a href=\"https:\/\/www.mining.com\/solgolds-projects-safe-as-ecuador-reaches-deal-with-indigenous-groups\/\"  rel=\"noreferrer noopener\">forced in September to retreat from the capital Quito<\/a>&nbsp;after<br \/>\ncuts to fuel subsidies, since then scrapped, immediately doubled prices and set<br \/>\noff two weeks of violent protests.&nbsp;<\/p>\n<p>Peru\u2019s capital, Lima, also saw widespread violence following<br \/>\nPresident Mart\u00edn Vizcarra\u2019s decision to dissolve opposition-controlled<br \/>\ncongress, accusing lawmakers of trying to obstruct his efforts to end<br \/>\ncorruption.<\/p>\n<p>The streets of Argentina\u2019s Buenos Aires have also been taken<br \/>\nby demonstrators complaining about food shortages, wages and the potential that<br \/>\nthe debt-crushed nation\u2019s next IMF bailout would require even more drastic<br \/>\neconomic measures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While its four locals mines are back in operations, the company has doubled it expected production loss for 2019 to about 10,000 tonnes.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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