Copper miner Antofagasta cuts cost forecast on lower peso, oil

Chilean copper producers Antofagasta cut its production cost forecast for 2015 by 6.6% on Monday due to lower oil prices and a weaker Chilean peso against the US dollar. The mining company said it expects its net cash cost for 2015 to be $1.40/lb of copper, about 10 cents per pound lower than it previously thought and in line with 2014.