Antofagasta mulls 2020 capex cut, seeks extra storage for inventory

Chilean copper miner Antofagasta is reviewing its 2020 capital expenditure plan and looking for more storage space for goods in case of a cancellation in orders, citing changes in the global business environment amid the coronavirus (2019-nCoV) outbreak.

Antofagasta, the operator of major copper mines including Los Pelambres and Centinela, has allocated $1.3-1.5 billion for capital expenditure this year, according to a financial statement released on Tuesday March 17.

The reduced figure is more cautious than the $1.5 billion plan stated previously and the miner will keep an eye on possible...

Published

Julian Luk

March 17, 2020

12:10 GMT

London