chilean mining company antofagasta plc released its production report for the first quarter of 2023. copper production in the first quarter of 2023 was 145,900 tons, in line with guidance, an increase of 5.1% year-on-year and a decrease of 25.4% month-on-month. the quarter-on-quarter decline reflects an expected temporary reduction in throughput at los pelambres due to reduced water availability; and an expected grade decline and scheduled maintenance at centinela. production is expected to increase for the remainder of the year. gold production was 42,200 ounces, an increase of 9.9% year-on-year and a decrease of 24.8% month-on-month. the output of molybdenum was 2,500 tons, an increase of 500 tons year-on-year and a decrease of 19.4% month-on-month. annual copper production is still expected to be 670,000-710,000 tons.
