Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Antofagasta Falls Most in 16 Months as Mining Costs Jump

Antofagasta Plc, the copper company controlled by Chile’s Luksic family, fell the most in 16 months in London trading after forecasting increased costs this year.

Antofagasta slid 8.3 percent to 1,169 pence by the close, the biggest drop since Sept. 22, 2011. The company said in a statement today the cost of it mining a pound of copper would increase 14 percent to 185 cents in 2013.

Costs are “significantly higher than what consensus was expecting,” Liberum Capital Ltd. said in a note to investors.

The industry has been beset by surging costs for energy, labor and construction materials. Antofagasta said rising energy prices would add to costs at its Los Pelambres mine, along with “increased mine movement” at the company’s Esperanza site.

Antofagasta will produce 700,000 metric tons of copper and 260,000 ounces of gold this year, compared with 709,600 tons and 299,900 ounces, respectively, in 2012.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.