Copper producer Antofagasta says its 2022 EBITDA down 39% on lower revenue and higher costs Antofagasta copper
- Chile-focused mining company Antofagasta , one of the world's senior copper producers, announced Tuesday that its revenue for the full year 2022 was $5,862 million, 22% lower than in 2021 reflecting a 12% decrease in copper sales and a 12% decrease in realized copper prices.
The company reported exceptional gain of $945 million, following the completion of the definitive agreements for the company to exit its indirect interest in the Reko Diq project. Antofagasta said that lower copper production was mainly due to the temporary reduction in throughput at Los Pelambres as a result of the drought and the reduced concentrate pipeline availability in June, and expected lower grades at Centinela Concentrates.
The company said that cash costs before by-product credits in 2022 were $2.19/lb, 22.3% higher than last year mainly due to the impact of the drought and higher input prices during the period, particularly for diesel and sulphuric acid.
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