Chile’s Antofagasta on Wednesday cut capital expenditure for the year and said copper production would be at the lower end of guidance due to the coronavirus pandemic.
SRI and zigzag
The deadly virus has routed global markets, disrupted supply chains and forced miners to slow or shut operations as governments introduced measures to curb the spread of the infection.
The London-listed miner this month announced it would suspend its Los Pelabres Expansion project for about four months and was operating with about two-thirds of its workforce at its mines in Chile.
“Copper production, costs and capital expenditure guidance for 2020 is highly dependent on how the health emergency evolves over the coming months,” Antofagasta said in a statement.


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