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Antofagasta cuts full-year copper output target

Reuters - UK Focus

Oct (HKSE: 3366-OL.HK - news) 28 (Reuters) - Chile's Antofagasta Plc (Other OTC: ANFGF - news) on Wednesday cut its full-year production forecast as the copper producer posted steady output in the third quarter versus the second.

London-listed Antofagasta reduced its copper output guidance for the year to 635,000 tonnes from a forecast of 665,000 after delayed the ramp-up at its Centinela operations.

Copper production in the third quarter was 157,000 tonnes, in line with the second quarter, the company said.

Like its peers, Antofagasta is battling a slide in commodity prices as a result of slowing growth in China, the world's top consumer of industrial metals.

London copper prices are recovering from six-year lows hit in late August. (Reporting by Olivia Kumwenda-Mtambo; editing by Jason Neely)