Antofagasta’s H1 profit falls 49% as copper slump weighs

Chile-focused copper miner Antofagasta’s LSE-listed stock closed up nearly 10% on Tuesday despite the miner booking a 49% drop in profit for the first half of the year (H1). Earnings before interest, taxes, depreciation and amortisation were $561.6-million, a 48.6% decline, reflecting a dramatic drop in revenues, which was partly offset by a 18.9% decrease in operating costs.