Antofagasta’s H1 earnings fall on higher costs

Chilean copper producer Antofagasta on Tuesday reported that net profit for the six months ended June 30 fell 16.3% year-on-year to $330.8-million as lower revenue and higher costs impacted the bottom line. The LSE-listed miner reported an 11.5% drop in its core profit, or earnings before interest, tax, depreciation and amortisation (Ebitda) to $1.13-billion, reflecting higher production costs and lower copper prices.