Antofagasta plc reported group production results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported copper production was 177,800 tonnes. Gold production was 40,500 ounces. Molybdenum production was 3,300 tonnes. Copper sales were 186,600 tonnes.

For the year, the company reported copper production of 704,300 tonnes against 709,400 tonnes a year ago. Gold production was 212,400 ounces against 270,900 ounces a year ago. Molybdenum production was 10,500 tonnes against 7,100 tonnes a year ago. Copper sales were 709,000 tonnes against 698,500 tonnes a year ago.

Group production in 2018 is expected to be in the range of 705-740,000 tonnes of copper, 190-210,000 ounces of gold and 11,500-12,500 tonnes of molybdenum. Capital expenditure in 2018 is expected to be $1.0 billion, including expenditure on the Los Pelambres Incremental Expansion project, which will add 55,000 tonnes of copper per annum once in full operation. The project is expected to be presented to the Board for approval during 2018 once the EIA has been approved and start-up is expected in 2021. Sustaining capital expenditure increases in 2018 due to the concentration of mine equipment replacement and tailings dam expenditure.