2nd Apr 2014 13:08
LONDON (Alliance News) - Antofagasta PLC Wednesday said shipments and operations have not been delayed and there has been no damage to its operations following the major earthquake in northern Chile.
A spokesman for the Chile-focused copper giant said that its four operating mines in the country were undamaged by the quake, but that as a precaution, many of its employees were moved to a safe building on site for around an hour during the night. Production wasn't stopped.
A magnitude-8.2 earthquake struck about 100 kilometres off northern Chile late Tuesday evening, triggering landslides that cut roads and damaged infrastructure. The Chilean authorities have announced the deaths of at least six people.
There had been fears the earthquake could trigger a huge tsunami. However, most of tsunami warnings have now been lifted and Antofagasta said its ports are now operational once more.
The effect of the earthquake pushed up copper prices sharply as Chile supplies around a third of the world's copper.
Glencore Xstrata PLC, which operates the Collahuasi mine with Anglo American PLC in Chile, told Reuters on Wednesday that its copper mine and port did not report any damage but that some workers were evacuated to be with their families after the quake.
The Collahuasi mine, in the northern Atacama region, is situated closer to the epicentre than the Antofagasta sites, but still managed to dodge any harm.
A Glencore spokesman was unable to confirm the Reuters reports on Wednesday.
Herencia Resources PLC, which also operates in Chile, also said it had not been affected by the earthquake and no damage had been reported at their operations.
Antofagasta shares were up 3.3% to 867.00 pence, putting it top of the FTSE 100 risers while Glencore shares were up 1.1% to 312.84 pence, Anglo American shares were up 1.4% to 1,542.50 pence and Herencia shares were up 2.1% to 0.449 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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