Antofagasta to review 2020 expenditure as 2019 profit rises
LONDON, March 17 (Reuters) - Chilean copper producer Antofagasta said on Tuesday 2019 profit climbed 9.5% on higher sales and lower costs, but flagged it would review its spending plans due to the tough global economy.
The London-listed miner said earnings before interest, tax, depreciation and amortisation (EBITDA) rose to $2.4 billion in the year ended Dec. 31, from $2.2 billion a year ago.
"In view of the current global situation, the expenditure programme is being reviewed to identify possible savings or deferrals," Antofagasta said in a statement. (Reporting by Zandi Shabalala, editing by Louise Heavens)