Antofagasta runs tight ship as Q2 costs fall, output rises

London-listed base metals producer Antofagasta managed to tighten the noose on costs during the second quarter ended June 30, with net cash costs at $1.20/lb of copper, a 5.5% decrease compared with the previous quarter. Companywide copper output during the period was 174 400 t, 1.5% higher than the preceding period, while gold output during the quarter rose 10.5% to 58 900 oz.