ANTUCOYA

70% OWNED

Antucoya is approximately 1,400 km north of Santiago and 125 km north-east of the city of Antofagasta. Antucoya mines and leaches oxide ore to produce copper cathodes using the solvent extraction and electrowinning (SX-EW) process.

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Operating performance

Antucoya improved its operational reliability and consistency during the year with daily ore throughput increasing by 14.3% compared to 2019.

EBITDA was $166 million compared with $86 million in 2019, reflecting higher sales volumes and realised prices, and lower operating costs.

Production

Antucoya produced 79,300 tonnes, 10.3% higher than the previous year on higher throughput, partially offset by lower grades and recoveries.

Cash costs

Cash costs for 2020 were $1.82/lb, 16.1% lower than in 2019 due to tight cost control, higher production, the weaker Chilean peso and lower input prices.

Capital expenditure

Capital expenditure was $42 million, including $19 million on mine development.

Production is forecast to be 75–80,000 tonnes of copper and cash costs are expected to be approximately $1.80/lb.