9-month revenue soared 74% in metal prices rebound - Antofagasta

Chilean copper producer Antofagasta said nine-month core earnings surged 74 percent due to a rebound in metals prices and higher output as it launched the plant at its new Esperanza mine.

The London-listed group said on Thursday earnings before interest, tax, depreciation and amortisation (EBITDA) increased to $1.96 billion on revenues of $3.17 billion that were up 57 percent.

The company has commissioned the plant at its new Esperanza mine and the first copper concentrate shipment was due by the end of the year, a statement said.

On Nov. 3, the firm posted higher-than-expected third quarter costs, overshadowing an expected rise in copper output.

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