Chilean miner Antofagasta said Wednesday its molybdenum production in 2018 rose almost 30% year-on-year, but it sees a 12% decline in 2019 production despite a plan to increase its copper output.
Antofagasta produced 13,600 mt of molybdenum concentrate in 2018, up 30% from 2017, while copper production was 725,300 mt, up 3%.
The miner attributed the steep rise in moly output to higher throughput, higher grades and recovery rates at Los Pelambres mine.
For 2019, Antofagasta sees moly production of 11,500-12,500 mt, down 12% from 2018. It sees copper output rising by 6% to company's record high of 750,000-790,000 mt in 2019.
A source close to another Chilean miner told Platts while several Chilean mines are expected to decrease moly production in 2019, there are ramp up projects in Peru that may cover for the output decreases.
